Credit unions had $236.8 billion in outstanding consumer credit in May, up from $235.8 billion in April, the Federal Reserve reported today.

Overall, consumer credit fell to $2.52 trillion in May. That data does not include mortgages and most other real estate loans.

The data comes less than a week after another bad piece of economic news from the government, unemployment was 9.5% in May, the highest rate since 1984.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 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.