Consumer Credit Up at Credit Unions, Down Overall
Credit unions had $241 billion in outstanding consumer credit in October, up from the revised figure of $240.6 billion in September, according to data released yesterday by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,482.9 trillion, down from $2,486 trillion in September. It was the ninth consecutive monthly decline.
At credit unions, outstanding revolving credit remained at $34.2 billion for the second consecutive month. Revolving credit, which mostly refers to credit-card related payments, fell overall to $888 billion, compared with September's $895 billion.
At credit unions, outstanding non-revolving credit, loans for cars and boats, was $206.8 billion, up from September's $206.4 billion. Overall, that kind of credit was $1,594.8 trillion, up from $1,591.3 trillion in September.