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 Borrowing Surges In May, Credit Up At CUs
WASHINGTON (7/9/13)--U.S. consumer credit in May surged by the biggest amount in a year,  and borrowing in all areas at credit unions also increased, according to the Federal Reserve's Consumer Credit  report released Monday.
 
Overall borrowing increased $19.6 billion--following a $10.9 billion gain in April--to reach nearly $2.84 trillion, seasonally adjusted.
 
Total revolving debt hit $856.5 billion--a $6.6 billion gain from 849.9 billion in April. Total nonrevolving debt--which comprises student and auto loans but not real estate loans--increased $13 billion to nearly $1.93 trillion in May.
 
At credit unions, members borrowed $252.8 billion in May, up from $251.2 billion in April and $231.2 billion at the end of the second quarter, not seasonally adjusted. 
 
Revolving data show that credit union members borrowed $39.9 billion in May, up from $39.5 billion in April and $37.4 billion at the end of the second quarter.
 
Nonrevolving debt at credit unions hit $212.9 billion in May, up from $211.8 billion in April and $193.8 billion at the end of the second quarter.
Other Resources

Fed Consumer Credit Report
RSS





print
News Now LiveWire
Better economic & #CU conditions,leading to higher rates in '15,'16, will boost CU earnings, asset quality,capital http://t.co/rmJvi3MIpQ
2 hours ago
RT @CUNA: Today is the first day of #CUYouthMonth How is your #creditunion celebrating?
7 hours ago
New @FICO score metric expected this week, will include utility payments http://t.co/l0hGhilMqQ
8 hours ago
.@TheNCUA increased supplier diversity in 2014 by 49%, although NCUA’s workforce diversity levels declined slightly.
8 hours ago
Also from FFIEC today, council announces reappointments of Mary Hughes and Lauren Kingry to its State Liaison Committee. 2of2
8 hours ago