Tuesday, January 8, 2019

Consumer Credit Growth Slowed at CUs During November 2018

Outstanding consumer credit at credit unions grew albeit at a slower pace during November 2018, according to the Federal Reserve.

Outstanding consumer credit expanded by $3.1 billion during November to $458.7 billion, after growing by $6.2 billion in October.

The growth of revolving credit accelerated at credit unions during November, while nonrevolving credit growth slowed.

Revolving credit at credit unions was $61.3 billion in November, up from $60.5 billion in October and $60.2 billion in September.

Nonrevolving credit at credit unions expanded by $2.3 billion during November to $397.4 billion. In comparison, nonrevolving credit increased by $5.9 billion during October.

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