Consumer Credit at CUs Grew at a Faster Pace in March

The Federal Reserve reported that outstanding consumer credit at credit unions grew in March.

Outstanding consumer credit increased by $4.2 billion in March to $393.7 billion. In comparison, consumer credit grew by $3.3 billion in February.

The expansion in consumer credit at credit unions was driven by an expansion in non-revolving credit, as revolving credit fell in March.

Non-revolving credit increased by almost $4.3 billion in March to $341.6 billion. Revolving credit slipped from approximately $52.3 billion in February to almost $52.1 billion in March.

Read the G. 19 release.