Ten credit unions hold 40% of the industry's credit card debt, including one Cornerstone credit union.
Credit unions held $61.8 billion in credit card debt in April, up 8.3% from a year earlier, according to a Fed report Friday.
The G-19 Consumer Credit Report showed credit unions’ held 6.1% of the nation’s credit card debt in April, little different than March and up from 5.9% in April 2018.
Lenders of all types held $1.01 trillion in credit card debt, up 4.9% from a year earlier.
Banks held $911.2 billion in credit card debt, up 5.3% from a year earlier, while finance companies held $22 billion in credit card debt, down 9.8% from a year earlier.
About 40% of credit union card debt was held by the 10 credit unions with the largest credit card balances as of March 31, according to NCUA data released Thursday.
These Top 10 held $24.9 billion in debt as of March, up 12.2% from a year earlier. They were:
Source: CreditUnionTimes
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