Newsroom
January 10, 2017
Total consumer credit, confidence up in November
Total consumer credit rose at a seasonally adjusted annual rate of 7.9 percent in November (the fastest pace since May), with consumer credit for credit unions rising 0.4 percent on a monthly basis. NAFCU Chief Economist and Director of Research Curt Long said consumer confidence has surged since the election.
"However," he said in a NAFCU Macro Data Flash report, "long-term rates have climbed and short-term rates are expected to rise further. Uncertainties about the new administration's economic and trade policies also add downside risks."
Non-revolving credit, which is mostly motor vehicle and education loans, increased 5.9 percent, while revolving credit, which is primarily credit cards, was up 13.5 percent in November.
From a year ago, total consumer credit was up 6.3 percent. Non-revolving credit increased by 6.2 percent, while revolving credit increased 6.4 percent from the prior year.
Credit unions' share of the total consumer credit market remained at 10.2 percent in November and is up from 9.6 percent a year ago.
Banks saw a 1.5 percent increase in total consumer credit in November, and financial companies saw a 0.3 percent decline. Banks had 40.3 percent and financial companies held 17.9 percent of the market in November.
"However," he said in a NAFCU Macro Data Flash report, "long-term rates have climbed and short-term rates are expected to rise further. Uncertainties about the new administration's economic and trade policies also add downside risks."
Non-revolving credit, which is mostly motor vehicle and education loans, increased 5.9 percent, while revolving credit, which is primarily credit cards, was up 13.5 percent in November.
From a year ago, total consumer credit was up 6.3 percent. Non-revolving credit increased by 6.2 percent, while revolving credit increased 6.4 percent from the prior year.
Credit unions' share of the total consumer credit market remained at 10.2 percent in November and is up from 9.6 percent a year ago.
Banks saw a 1.5 percent increase in total consumer credit in November, and financial companies saw a 0.3 percent decline. Banks had 40.3 percent and financial companies held 17.9 percent of the market in November.
Share This
Related Resources
Add to Calendar 2024-05-03 14:00:00 2024-05-03 14:00:00 Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing About the Webinar In January 2024, Pentegra conducted a survey of retirement plan sponsors and their perspectives on retirement plan management and fiduciary outsourcing. The survey measured how sponsors are using fiduciary outsourcing to help better manage their retirement plans. It also captured their perspectives on what outsourcing does to help them better position their plans and drive improved retirement plan outcomes. Key Takeaways: What is the full scope of your responsibilities as a plan sponsor? What is fiduciary outsourcing and how does it work? How does fiduciary outsourcing help reduce workloads and minimize risk? How can a credit union best position its plan to drive improved outcomes? Register Here Web NAFCU digital@nafcu.org America/New_York public
Plan Sponsor Attitudes Toward Retirement Plan Management and Fiduciary Outsourcing
preferred partner
Pentegra
Webinar
Ensuring Safety and Soundness with AI
Management, Consumer Lending, FinTech
preferred partner
Upstart
Blog Post
Turning Lemons into Lemonade: Capitalizing in a Post-Banking Crisis Era
Strategy
preferred partner
Allied Solutions
Blog Post
Add to Calendar 2024-05-03 09:00:00 2024-05-03 09:00:00 Blind Spots in the Boardroom Listen On: Key Takeaways: [04:19] For a board to change its practices first it needs to be committed to different outcomes. It takes about 30 times for a board to start to be in a new conversation before they start to get their brain rewired to embody the change [07:24] In merger conversations we lose sight of what is important for the member. We need to look at what the continuing organization will look like and what is the leadership the membership and continuing organization need and deserve. [12:39] An educated board and executive team are a sharper team. When you have sharper leaders in the organization good things come from that. [24:22] If we are not taking care of that relationship with the CEO then we are strategically hampered. With a good CEO evaluation, the board is higher performing, the CEO is more attentive to being high performing, and the relationship is high performing and more genitive. Web NAFCU digital@nafcu.org America/New_York public
Blind Spots in the Boardroom
preferred partner
DDJ Myers
Podcast
Get daily updates.
Subscribe to NAFCU today.