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.
Recommended For You
At credit unions, revolving debt increased to $32.7 billion, compared with $32.3 billion in April. Revolving debt, which mostly refers to credit-card related payments, fell overall to $919.1 billion, compared with 922.2 billion in April.
At credit unions, non-revolving credit, loans for cars and boats, was $204.1 billion, up from 203.5 billion in April. Overall, that kind of credit was $1,583.1 trillion, down from $1,583.4 trillion in April.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.
