WASHINGTON—Outstanding consumer credit at credit unions grew, albeit at a slower pace, during November, 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,” stated Keith Leggett, the former senior vice president and senior economist at the ABA, in his analysis.
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, noted Leggett.