Outstanding Consumer Credit at CUs Grew in December

Outstanding consumer credit at credit unions grew in December by approximately $1.7 billion to $382 billion, according to the Federal Reserve's G.19 report.

Revolving credit balances at credit unions expanded by almost $1.1 billion to $53.1 billion as of December.

Non-revolving credit edged higher by $500 million in December to $328.9 billion.

The pace of consumer credit growth slowed at credit unions during the fourth quarter of 2016 compared to the third quarter of 2016. During the fourth quarter of 2016, outstanding consumer credit at credit unions grew at an annualized rate of $33.8 billion. In comparison, the annualized growth rate for consumer credit at credit unions was $62.9 billion for the third quarter.