Consumer Credit at Credit Unions Grew at Slower Pace in May

The Federal Reserve is reporting on July 10th that outstanding consumer credit at credit unions grew in May, but at a slower pace than in April.

Outstanding consumer credit at credit unions was $401.5 billion in May, up from $398.2 billion in April.

In other words, consumer credit increased at an annualized growth rate of $38.8 billion in May. This was down from an annualized April growth rate of $135.9 billion.

Revolving credit increased by almost $800 million in May to approximately $53.2 billion.

Nonrevolving credit grew by almost $2.5 billion in May to about $348.3 billion.

Read the G.19 report.