Consumer Credit Down at Credit Unions, Up Overall
Credit unions had $236.4 billion in outstanding consumer credit in December, down from the revised figure of $237 billion in November, according to data released by the Federal Reserve.
Overall, outstanding consumer credit rose to $2,486.9 trillion, from November's revised figure of $2,472 trillion. It was the first increase after 10 consecutive monthly declines.
At credit unions, outstanding revolving credit rose to $35.5 billion, from November's revised figure of $34.6 billion. Revolving credit, which mostly refers to credit-card related payments, increased overall to $893.9 billion, from November's revised figure of $883.4 billion.
At credit unions, outstanding non-revolving credit, loans for cars and boats, was $201 billion, a decrease from November's revised figure of $202.3 billion. Overall, there was $1,593 trillion in outstanding non-revolving credit in December, compared with $1,588.7 trillion in November.