Consumer Credit Down at Credit Unions
Credit unions had $235.8 billion in outstanding consumer credit in January, down from the revised figure of $237.2 billion in December, according to data released by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,477.6 trillion, from December's revised figure of $2,481 trillion.
At credit unions, outstanding revolving credit fell to $34.9 billion, from December's revised figure of $35.4 billion. Revolving credit, which mostly refers to credit-card related payments, fell overall to $875.9 billion, from December's revised figure of $94 billion.
At credit unions, outstanding non-revolving credit, loans for cars and boats, was $200.9 billion, a decrease from December's revised figure of $201.7 billion. Overall, there was $1,601 trillion in outstanding non-revolving credit in January, compared with the revised figure of $1,587.3 trillion in December.