Credit unions increased their credit card balances in October at the slowest rate in more than a year, but managed to pick up share from banks, which grew balances at an even slower pace.
Data from the Fed's G-19 Consumer Credit Report released Thursday showed credit unions held $80.7 billion in credit card debt Oct. 31, up 13% from a year earlier, which matched September's 12-month gain, which was the weakest gain for credit unions since June 2022.
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:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 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.
