522180 - Savings Institutions and Other Depository Credit Intermediation
Navigating the world of finance and government contracting often starts with understanding the right classification codes. One such critical identifier is NAICS code 522180. This code serves as a key to unlocking opportunities and insights into the industry segments focused on savings institutions and depository credit intermediation. Whether you are a small business owner, a government contractor, or simply exploring financial sectors, understanding NAICS 522180 is essential.
What is NAICS Code 522180?
NAICS code 522180 corresponds to Savings Institutions and Other Depository Credit Intermediation. This industry comprises establishments primarily engaged in:
- Accepting deposits
- Making loans
The businesses under this classification include a range of financial institutions such as savings banks, savings and loan associations, and other similar entities focused on credit intermediation.
Sector Overview: Finance and Insurance
NAICS 522180 falls under the broader Finance and Insurance sector. This sector includes institutions involved in financial transactions, insurance services, and real estate. Within this framework, savings institutions play a fundamental role in managing deposits and providing loans that fuel economic growth.
Typical Business Activities
Key activities for businesses classified under NAICS 522180 include:
- Providing savings and loan services
- Managing mutual savings transactions
- Offering depository credit intermediation services
- Operating as savings banks or savings and loan associations
Size Standard for NAICS 522180
For government contracting and other regulatory purposes, the small business size standard for NAICS code 522180 is set at $850 million in assets. This means businesses with total assets under this threshold qualify as small entities under SBA guidelines.
Examples of Businesses Under NAICS 522180
Some typical examples of entities classified under this NAICS code include:
- Savings Banks
- Savings and Loan Associations (S&L)
- Mutual Savings Institutions
- Federal Savings Banks and Associations
- State Savings Banks and Associations
Detailed Code Breakdown
Here’s a snapshot of the various associated terms and code-related keywords for NAICS 522180:
| Code Details | Description |
|---|---|
| Associations, savings and loan | Entities focused on savings and lending |
| Banks, industrial (i.e., known as) | Industrial banks providing credit |
| Banks, private (i.e., unincorporated) | Privately held banks |
| Banks, savings | Specialized savings banks |
| Federal savings and loan associations (S&L) | Federally chartered S&Ls |
| Federal savings banks | Federally regulated savings banks |
| Industrial banks (i.e., known as), depository | Banks offering industrial-style depository services |
| Institutions, savings | General savings institutions |
| Morris Plans (i.e., known as), depository | Specialized loan institutions |
| Mutual savings banks | Banks owned by depositors |
| Plans, Morris (i.e., known as), depository | Specific depository credit institutions |
| Private banks (i.e., unincorporated) | Private unincorporated banking institutions |
| Savings and loan associations (S&L) | Associations focused on savings and loans |
| Savings banks | Banks primarily accepting savings deposits |
| Savings institutions | General institutions for savings and loans |
| State savings and loan associations | State-chartered savings and loan associations |
| State savings banks | State-chartered savings banks |
Frequently Asked Questions (FAQ)
What types of businesses are included in NAICS 522180?
NAICS 522180 includes savings banks, savings and loan associations, mutual savings institutions, federal and state savings banks, and similar depository credit intermediaries.
What is the main activity of businesses under this NAICS code?
The primary activities involve accepting deposits and making loans to consumers and businesses.
Under which sector does NAICS 522180 fall?
It falls under the Finance and Insurance sector.
What is the small business size standard for NAICS 522180?
The SBA defines the size standard as $850 million in assets.
Are federal savings banks included in NAICS 522180?
Yes, federally chartered savings banks and federal savings and loan associations are included.
Final Thoughts
Understanding NAICS code 522180 is crucial for businesses engaged in savings institutions and credit intermediation. This classification not only helps in positioning your business for government contracting but also aids in market analysis, compliance, and growth planning within the finance and insurance sector. If your business fits within the parameters of this code — especially if it falls under the $850 million asset size standard — you'll be well-placed to leverage growth opportunities both in the private market and government contracts.
Start aligning your strategy today by understanding the detailed scope and qualifications under NAICS 522180!
