WASHINGTON—Outstanding consumer credit at credit unions experienced a slight contraction during February, according to the Federal Reserve.
Outstanding consumer credit fell by almost $200 million at credit unions during February to $471.3 billion, reported Keith Leggett, the former senior vice president and senior economist at the ABA.
The decline in outstanding consumer credit was due to revolving credit falling by approximately $600 million during February to $61.5 billion, Leggett said.
Nonrevolving credit was $409.8 billion in February, up from $409.5 billion in January.