WASHINGTON — Consumer credit issued by credit unions and banks jumped $18.2 billion in October, the biggest monthly gain recorded in the last five months, according to Federal Reserve data released Friday.
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Auto and student loans drove the increases. Credit unions posted a $1.3 billion gain in outstandings non-seasonally adjusted, moving to $263.8 billion from $262.5 billion in September.
Revolving credit at credit unions remained relatively flat, increasing to $41.2 billion from $41.1 billion in September, with non-revolving credit increasing to $222.7 billion from $221.4 billion last month.
