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Consumer Credit down at CUs and Overall

Consumers appeared reluctant to take on additional credit as concerns persist about the pace of economic growth.

By Claude R. Marx | Updated on July 07, 2010

Consumers appeared reluctant to take on additional credit as concerns persist about the pace of economic growth.

Credit unions had $223.7 billion in outstanding consumer credit in May, down from April’s revised figure of $224.8 billion, according to data released today by the Federal Reserve. Overall, outstanding consumer credit fell to $2,400 trillion, from $2,407 trillion in April.

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