Consumer Credit Down at CUs and Overall
Credit unions had $240.5 billion in outstanding consumer credit in September, down from the revised figure of $241.6 billion in August, according to data released today by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,465 trillion, down from $2,475 trillion in August. It was the eighth consecutive monthly decline.
At credit unions, outstanding revolving credit, increased to $34.2 billion from $34.1 billion in August. Revolving credit, which mostly refers to credit-card related payments, fell overall to 886.6 billion, compared with August's $897.1 billion.
At credit unions, outstanding non-revolving credit, loans for cars and boats, was $206.3 billion, down from August's $207.5 billion. Overall, that kind of credit was $1,578.8 trillion, up from $1,578.3 trillion in August.