Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

Market
NEW: May Consumer Credit Hits Year's High, Credit Up At CUs
WASHINGTON (7/8/13, UPDATED: 4:35 p.m. ET)--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 today.
 
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.


RSS print
News Now LiveWire
SuperValu confirms second data breach via @pymnts http://t.co/vpHVwhL3PV
44 minutes ago
68% of businesses unprepared to respond to data breach: Experian/Ponemon #NewsNow #System http://t.co/T6KRtIZEoN
54 minutes ago
New @CUNA CEO Nussle talks about CU tax status in @thehill : #NewsNow http://t.co/sm8TO71qb5
1 hours ago
#NewsNow: CU leagues of 5 states call for merchant breach accountability http://t.co/lnmpna8AoV
18 hours ago
Worker's CU, Fitchburg, Mass., was 1 of 5 CUs recognized with a 2014 @CUNA Technology Council Excellence in Technology Award
20 hours ago