Powered by LevrNAICS 522130: Credit unions
NAICS 522130 is the industry code for credit unions. Use it on loan applications, tax forms and registrations. Explore financing for professional services and start your application when you are ready.
What 522130 covers
Credit unions are member owned cooperatives that accept deposits and make loans to members. Federal and state chartered credit unions are both included.
Included in this code
- Federal credit unions
- State credit unions
- Corporate credit unions
Not this code
- Commercial banks: see 522110 Commercial banking
- Savings institutions: see 522180 Savings institutions and other depository credit intermediation
Businesses that use 522130
Financing for this trade
Credit unions build capital through retained earnings and secondary capital. Lenders look at net worth ratios.
Apply for funding with AIIs 522130 the right code for a credit union?
Yes, if you operate a member owned credit union. Banks use 522110. Owners in this trade most often weigh it against 522110 (commercial banking) and 522180 (savings institutions and other depository credit intermediation). The right choice is the activity that brings in the most revenue, used the same way on tax returns and loan applications.
What is the SBA size standard for 522130?
The SBA size standard for 522130 is $850M in total assets. SBA averages the assets reported on the institution's last four quarterly financial statements and includes affiliates. A credit union under that line counts as small for federal small business contracts and other SBA size determinations, although lending and passive investment businesses are generally not eligible for SBA 7(a) loans.
How do credit unions raise capital?
Credit unions build net worth from retained earnings, and low income designated credit unions can raise secondary capital. Corporate credit unions provide liquidity. Regulators review net worth ratios and loan quality. Expect lenders to ask for receivables and payables agings, recent bank statements and a debt schedule, which also help a broker match the request to the right lender quickly.
What does NAICS 522130 cover?
Credit unions. Industry level code in NAICS 2022, under 52 Finance and insurance, 522 Credit intermediation and related activities, 5221 Depository credit intermediation, 52213 Credit unions.
What financing do NAICS 522130 businesses use?
Equipment financing, working capital, SBA loans and invoice factoring are the products placed most for professional services businesses. Start an application and the AI matches the deal to lenders that fund this code.
Where do I put NAICS 522130?
On the SBA loan application, on federal Schedule C or Form 1120, on SAM.gov and state registrations, and on most lender applications. A business can report more than one code; use this one if it describes what produces most of your revenue.