The Federal Reserve reported on February 7 that outstanding consumer credit at credit unions rose during December 2019, but fell for the fourth quarter of 2019, according to the G.19 report.
During December, outstanding consumer credit at credit unions increased by approximately $400 million to $482.4 billion. However, during the fourth quarter of 2019, outstanding consumer credit declined by almost $1.2 billion.
Revolving credit at credit unions was $67.8 billion in December. Revolving credit grew in December and in the fourth quarter by $2.7 billion and $3.4 billion respectively.
On the other hand, outstanding nonrevolving credit at credit unions fell during December and the fourth quarter. Nonrevolving credit fell by $2.2 billion during December and $4.5 billion during the fourth quarter to $414.7 billion.
Review the G.19 Report.
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