ARLINGTON, Va. — Credit unions' share of the $1.5 trillion non-revolving market has hovered between 13.7% and 13.8% and is not going anywhere anytime soon.
Seasonally adjusted, consumer installment credit fell $1.2 billion, or 0.6%, on an annualized basis to $2.37 trillion. In September, it dropped to $233.9 billion from $234 billion the month before. However, revolving credit climbed $400 million to $26 billion, but was offset by declining non-revolving credit of half-a-billion dollars to $207.9 billion.
According to NAFCU, non-revolving and revolving credit figures "were a bit of a surprise" because retail sales excluding cars fell 0.5% in September yet revolving credit increased. At the same time, car sales got a boost, but non-revolving credit fell.
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