Consumers are more willing to take on credit overall, though consumer credit at credit unions declined slightly in September, according to data released by the Federal Reserve.
Credit unions had $224 billion in outstanding consumer credit in September, compared with August's revised figure of $226.5 billion. Overall, outstanding consumer credit increased $2.1 billion in September-or at a 1.1% annual rate.
At credit unions, outstanding revolving credit fell to $35.3 billion in September from August's revised figure of $35.5 billion. Revolving credit mostly refers to credit card-related payments.
In September, there was $189.6 billion in outstanding non-revolving credit at credit unions, compared with a revised figure of $190.9 billion fin August. Non-revolving credit includes loans for items such as cars, boats and vacations.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 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.
