Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

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
Number of @CUNA-certified fin. counselors hits 2,175 http://t.co/3fQGcdxyLO
23 minutes ago
Jobless claims drop by 19,000 this week #Market #NewsNow http://t.co/LSqaYCsmX4
1 hours ago
#RBC draws letters from @SenatorBegich, @SenShelby to @TheNCUA See #NewsNow http://t.co/JvLBwkHwxF
2 hours ago
It's #summercamp with a financial literacy, #creditunion twist http://t.co/5eaps9ZoVB
4 hours ago
Mich #creditunions encourage everyone to #CULunchLocal Oct 14 as part of #ICUDay http://t.co/NZp71fgr8Z
5 hours ago