Credit unions had $241.5 billion in outstanding consumer credit in August, up from $238.9 billion in July, according to data released yesterday by the Federal Reserve.
Overall, outstanding consumer credit fell to $2,463 trillion in August, down from July's revised figure of $2,475.trillion. It was the seventh consecutive monthly decline.
At credit unions, outstanding revolving credit, increased to $34.1 billion from $33.6 billion in July. Revolving credit, which mostly refers to credit-card related payments, fell overall to $897.6 billion, compared with July's revised figure of $901.6 billion.
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At credit unions, outstanding non-revolving credit, loans for cars and boats, was $207.4 billion, up from July's revised figure $205.4 billion in June. Overall, that kind of credit was $1,559 trillion, up from $1,558.6 trillion in July.
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