Credit card debt rose sharply from September to October forcredit unions and other lenders, while car loans and other termloans advanced more slowly.

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The Federal Reserve Bank's Consumer Credit report releasedThursday showed revolving loans to consumers rose 0.77% from Sept.30 to Oct. 31, the biggest September-to-October gain since carddebt rose 1.17% in 2000.

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Meanwhile, credit unions' continued strength in automotive lending has allowed the movement tocontinue to build a share of the total consumer credit market ithasn't seen the last quarter of the 20th century.

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Credit unions held $364.6 billion in non-revolving consumerloans in 2017-10, up 11.3% from a year earlier. Car loans accountfor more than 90% of non-revolving consumer loans at credit unionsand about 40% nationally.

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The increase in non-revolving loans from September to Octoberwas 0.78% among credit unions, down from 2% a year ago. Likewise,the increase fell to 0.05% among banks and finance companies inOctober, compared with a 0.1% gain a year earlier.

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Still, non-revolving consumer loans in October were up 11.3%from a year ago at credit unions compared with only 0.8% at banksand finance companies.

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As a result, credit unions continued to gain share of thenation's total consumer credit (revolving plus non-revolvingloans).

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Credit unions held $420.2 billion in consumer debt on Oct. 31,up 10.9% from a year earlier. Credit unions' share of totalconsumer credit was 11.1% in October, up from 11.07% in Septemberand 10.55% in October 2016.

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Credit unions last maintained at least 11% of the nation'sportfolio of credit card loans, car loans and other forms ofconsumer debt. from February 1975, as North Vietnam prepared tolaunch its final offensive against South Vietnam, until October1998, when a 77-year-old John Glenn returned to space aboard thespace shuttle Space Shuttle Discovery.

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Their share fell to a low of 8.09% in December 2011, and hasgradually risen, crossing the 11% threshold in July.

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Credit unions' share of the nation's credit card portfolio was5.7% in October, essentially unchanged from September and up morethan 10 basis points from a year ago. Banks and finance companies'share was 89.1% in October, also unchanged from September and down40 basis points from a year ago.

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Credit unions held $55.6 billion in credit card debt Oct. 31.The 0.59% gain from September compared with a nearly flat 0.1%month-to-month gain a year ago. It was their biggest monthlyincrease since a 1.34% gain in October 2011.

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Banks and finance companies also saw a sharp increase for themonth. They held $870.9 billion in credit card debt on Oct. 31, up0.82% from September and more than double the 0.3% monthly gain ayear ago.

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For the 12 months, card debt rose 6.1% for all lenders, 8.7% forcredit unions and 5.7% banks and finance companies.

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Jim DuPlessis

A journalist for decades.