Consumer Credit Growth Slows at CUs during September

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

September consumer credit at credit unions was $487 billion, up from $485.8 billion in August.

Consumer credit grew at an annualized pace of $92.7 billion during August. The annualized growth in consumer credit tumbled to $13.6 billion during September

Revolving credit at credit unions increased by approximately $100 million during September to $64.4 billion.

Nonrevolving credit at credit unions increased by almost $1 billion during September to $422.6 billion.

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