Consumer Credit at CUs Barely Grows in January 2020

The Federal Reserve reported on March 6 that outstanding consumer credit at credit unions barely grew in January 2020, according to its G.19 report.

Total outstanding credit at credit unions was $482.5 billion in January 2020, up slightly from $482.4 billion in December 2019.

Between December 2019 and January 2020, revolving credit unions fell by almost $1.9 billion to $65.9 billion.

Nonrevolving credit increased by almost $1.9 billion during January 2020 to approximately $416.6 billion -- reversing a three consecutive month decline.