Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
Consumer Credit Increases 5.5% In August, CUs See Rise
WASHINGTON (10/8/13)--U.S. consumer credit increased a seasonally adjusted 5.5% or $13.6 billion in August, for a total of $3.036 trillion borrowed during the month, according to the Federal Reserve's Consumer Credit report. Money borrowed from credit unions totaled $259.9 billion.
 
The Fed report was released Monday afternoon.
 
At credit unions, borrowing climbed by $3.4 billion to $259.9 billion from the $256.5 billion in July.
 
Overall U.S. revolving credit, which includes credit card spending, declined at an annual rate of 1.25%--or $0.9 billion--in August to $848.9 billion from $849.8 billion in July.
 
Credit unions' revolving credit rose slightly, to $41.1 billion from $40.6 billion in July.
 
Nonrevolving credit--such as loans for cars, mobile homes and college tuition--rose at annual rate of 8%--or $14.5 billion--to about $2.188 trillion in July from roughly $2.173 trillion in July.
 
Credit unions issued $218.8 billion in nonrevolving loans in August, up from $215.9 billion in July.
RSS





print
News Now LiveWire
#FinCEN seeks nominations of FIs, trade groups for membership on Bank Secrecy Act advisory group http://t.co/l5w58c277W
59 minutes ago
MI pediatric dentist pledges $20K match to Hurley Children's Hospital if it wins @CUDirect's 20 for 20 http://t.co/Eq2nIPm6jo
1 hours ago
Kids learn budgeting with M&Ms http://t.co/SzXipTLX12
2 hours ago
Neb. #creditunions report widespread growth: 3Q review #NewsNow #system http://t.co/BavEljz15w
3 hours ago
Economic growth leaps in Nov, @ChicagoFed reports http://t.co/8Xo9lKLFf2
3 hours ago