NAICS 5221 - Depository Credit Intermediation
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Related NAICS Codes for NAICS 5221
Click on any NAICS code to explore that specific industry within NAICS 5221
| NAICS Code | Industry Title |
|---|---|
| 52211 | Commercial Banking |
| 52213 | Credit Unions |
| 52218 | Savings Institutions and Other Depository Credit Intermediation |
| NAICS Code | Industry Title |
|---|---|
| 522110 | Commercial Banking |
| 522130 | Credit Unions |
| 522180 | Savings Institutions and Other Depository Credit Intermediation |
What is NAICS 5221
NAICS code 5221, Depository Credit Intermediation, encompasses establishments primarily engaged in accepting deposits or share deposits and extending credit by lending funds derived from these deposits. This sector includes a range of financial institutions that serve as intermediaries between depositors and borrowers, facilitating the flow of capital within the economy. Businesses operating under this classification typically engage in activities such as checking and savings account management, mortgage lending, and commercial loans. Government agencies contract for these services to support financial management, ensure liquidity, and facilitate economic development initiatives. Additionally, these services are critical for managing public funds, implementing monetary policies, and supporting community investment programs. The diversity within this industry reflects the various types of deposit liabilities assumed and credit products extended, which influence how these institutions operate and serve their clients.
Industry Classification for NAICS 5221
This industry group comprises establishments primarily engaged in accepting deposits (or share deposits) and in lending funds from these deposits. Within this group, industries are defined on the basis of differences in the types of deposit liabilities assumed and in the nature of the credit extended.
Breakdown for NAICS 5221
- Covers establishments accepting deposits and lending funds primarily from those deposits.
- Includes banks, credit unions, and savings institutions operating under various deposit liabilities.
- Defined by differences in types of deposits and nature of extended credit products.
- Subject to federal and state financial regulations and oversight.
- Supports both commercial lending and consumer credit activities.
- Size standards based on asset size or number of employees depending on institution type.
Included Activities for NAICS 5221
- Accepting demand and savings deposits from individuals and businesses.
- Providing commercial and consumer loans including mortgages and personal credit.
- Managing checking and savings account services for depositors.
- Administering loan portfolios and servicing government-backed loans.
- Facilitating credit access for community development and economic growth.
- Implementing regulatory compliance and risk management procedures.
- Offering electronic and digital banking platforms to enhance accessibility.
- Engaging in credit underwriting and loan approval processes.
Business Types for NAICS 5221
- Commercial banks
- Savings institutions
- Credit unions
- Community development financial institutions (CDFIs)
- Mortgage banks and lenders
- Government-sponsored enterprises (GSEs)
Government Buyers for NAICS 5221
Federal agencies such as the U.S. Department of the Treasury, Federal Reserve, and various state and local government financial departments commonly procure services within this NAICS category. These agencies require depository credit intermediation services to manage public funds, administer loan and grant programs, and support financial infrastructure projects. Additionally, government-sponsored enterprises and housing finance agencies contract with institutions in this sector to facilitate mortgage lending and community development financing. The need for these services arises from the government's role in stabilizing financial markets, ensuring efficient allocation of capital, and providing access to credit for public projects and underserved populations.
Contract Types & Procurement for NAICS 5221
Contracts under NAICS 5221 typically include financial service agreements, loan servicing contracts, deposit management services, and credit facilitation arrangements. Procurement methods often involve competitive bidding or negotiated contracts due to the specialized nature of financial services and regulatory compliance requirements. Contract values can vary significantly, ranging from small-scale deposit management contracts to large multimillion-dollar agreements for loan portfolio administration or credit facility management. Blanket purchase agreements (BPAs) and indefinite delivery/indefinite quantity (IDIQ) contracts are also common to allow government agencies flexibility in accessing financial services as needs arise.
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