WASHINGTON—The Federal Reserve reported that outstanding consumer credit at credit unions fell during February, according to its G. 19 report.
In January 2018, outstanding consumer credit at credit unions was $430.4 billion. In February 2018, consumer credit was $429.5 billion, noted Keith Leggett, the former senior vice president and senior economist at the ABA, in his analysis.
The decline in outstanding consumer credit was due to a drop in both revolving and nonrevolving credit. Revolving credit declined from approximately $58.1 billion in January to almost $57.2 billion in February. This was the second consecutive monthly decline in revolving credit at credit unions, Leggett noted.
Nonrevolving consumer credit fell by almost $200 million during February to $372.2 billion.