WASHINGTON—Outstanding consumer credit at credit unions grew at a slower pace in January 2019, new data show.
Total outstanding consumer credit at credit unions was $476 billion in January 2019. In comparison, total consumer credit at credit unions was $474.2 billion and $471.4 billion in December 2018 and November 2018, respectively, reported Keith Leggett, the former senior vice president and senior economist at the ABA, citing Federal Reserve data.
While revolving credit contracted in January, nonrevolving credit grew at a faster pace for the month.
Revolving credit at credit unions fell during January 2019 by approximately $500 million to $62.1 billion. Nonrevolving credit grew by almost $2.3 billion during January 2019 to $413.9 billion, after increasing by $1.5 billion in December 2018, Leggett said.