Consumers are more willing to take on credit overall, though consumer credit at credit unions declined slightly in September, according to data released by the Federal Reserve.
Credit unions had $224 billion in outstanding consumer credit in September, compared with August's revised figure of $226.5 billion. Overall, outstanding consumer credit increased $2.1 billion in September-or at a 1.1% annual rate.
At credit unions, outstanding revolving credit fell to $35.3 billion in September from August's revised figure of $35.5 billion. Revolving credit mostly refers to credit card-related payments.
In September, there was $189.6 billion in outstanding non-revolving credit at credit unions, compared with a revised figure of $190.9 billion fin August. Non-revolving credit includes loans for items such as cars, boats and vacations.