Consumer Credit at CUs Fell in February

The Federal Reserve reported that outstanding consumer credit at credit unions fell for the month of February, according to its G. 19 report.

In January 2018, outstanding consumer credit at credit unions was $430.4 billion. In February 2018, consumer credit was $429.5 billion.

The decline in outstanding consumer credit was due to a drop in both revolving and nonrevolving credit.

Revolving credit declined from approximately $58.1 billion in January to almost $57.2 billion in February. This was the second consecutive monthly decline in revolving credit at credit unions.

Nonrevolving consumer credit fell by almost $200 million during February to $372.2 billion.