WASHINGTON—Outstanding consumer credit at credit unions grew at a faster rate in October, according to the Federal Reserve.
Outstanding consumer credit at credit unions increased by $7 billion in October to $461.6 billion. In September, outstanding consumer credit at credit unions grew by $3.3 billion, noted Keith Leggett, the former senior vice president and senior economist at the ABA, in his analysis.
Revolving credit at credit unions was $60.2 billion in October compared to $59.9 billion in September.
Nonrevolving credit jumped by $6.7 billion in September to $401.4 billion, Leggett noted.