WASHINGTON — Credit unions had $233.9 billion in outstanding consumer credit in June, up from $232.4 billion in May, the Federal Reserve reported today.
Overall, in a further sign of the country's economic slowdown, outstanding consumer credit rose to $2.586 trillion in June, the highest level since June 2001. That data does not include mortgages and most other real estate loans.
At credit unions, revolving debt increased to $31.7 billion, up from $31.3 billion in May. Revolving debt, which primarily refers to credit cards, increased overall to $962.5 billion, up from $955.1 billion in May.
Recommended For You
At credit unions, non-revolving credit, loans for cars and boats, was $202.3 billion in June, up from $201.5 billion in May. Overall, that kind of credit was $1.607 trillion, up from $1.602 trillion in May.
The announcement of the rise in consumer debt came the same day as the Labor Department reported that first-time claims for unemployment insurance rose last week to 455,000, a 7,000 increase from the previous week and the highest number of new claims since March 2002.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
