Consumer Credit Down at Credit Unions and Overall
Credit unions had $237 billion in outstanding consumer credit in November, down from the revised figure of $240.6 billion in October, according to data released by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,478.2 trillion, down from $2,487.4 trillion in October. It was the 10th consecutive monthly decline.
At credit unions, outstanding revolving credit rose to $34.5 billion, from $34.2 billion in October. Revolving credit, which mostly refers to credit-card related payments, fell overall to $882.9, compared with $885.5 billion in October.
At credit unions, outstanding non-revolving credit, loans for cars and boats, was $202.9 billion, compared with $206.4 billion in October. Overall, there was $1,595.3 trillion in that kind of outstanding credit in November, compared with $1,601.9 trillion in October.