Tools commonly used in the Credit Unions Not Federally Chartered industry for day-to-day tasks and operations.

• CU*BASE
• Symitar Episys
• Fiserv DNA
• FLEX
• Sharetec
• CU Direct
• Lending 360
• MeridianLink
• CuneXus
• PSCU

Common products and services typical of NAICS Code 522130-05, illustrating the main business activities and contributions to the market.

• Community-based credit unions
• Teacher credit unions
• Military credit unions
• Religious credit unions
• Labor union credit unions
• Municipal credit unions
• University credit unions
• Healthcare credit unions
• Law enforcement credit unions
• Firefighter credit unions

The specific certifications, permits, licenses, and regulatory compliance requirements within the United States for this industry.

• National Credit Union Administration (NCUA) Charter: Credit unions must obtain a charter from the NCUA to operate legally in the US. The NCUA is an independent federal agency that regulates and supervises credit unions.
• State Credit Union Charters: Credit unions can also obtain a charter from their state government to operate legally. The requirements for state charters vary by state. (varies by state)
• Credit Union National Association (CUNA) Compliance Certification: This certification program provides training on regulatory compliance for credit unions.
• Certified Credit Union Financial Counselor (CCUFC): This certification is offered by the Credit Union National Association and provides training on financial counseling for credit union members.
• Bank Secrecy Act/anti-Money Laundering (BSA/AML) Compliance: Credit unions must comply with BSA/AML regulations to prevent money laundering and terrorist financing.

A concise historical narrative of NAICS Code 522130-05 covering global milestones and recent developments within the United States.

• The Credit Unions Not Federally Chartered industry has a long history dating back to the early 1900s when the first credit unions were established in Europe. The industry was created to provide affordable financial services to people who were unable to access traditional banking services. In the United States, the industry began to grow in the 1920s, and by the 1930s, there were over 10,000 credit unions in the country. In the 1970s, the industry experienced significant growth due to the deregulation of the financial sector, which allowed credit unions to expand their services and membership. In recent years, the industry has faced challenges due to increased competition from traditional banks and online lenders, as well as changing consumer preferences.

The anticipated future trajectory of the NAICS 522130-05 industry in the USA, offering insights into potential trends, innovations, and challenges expected to shape its landscape.

• Growth Prediction: Stable

  The future outlook for Credit Unions Not Federally Chartered in the USA is positive. The industry is expected to grow in the coming years due to the increasing demand for financial services. The industry is also expected to benefit from the growing trend of consumers seeking out alternative financial institutions. Additionally, the industry is expected to benefit from the increasing use of technology in financial services. However, the industry may face challenges due to increased competition from other financial institutions and regulatory changes. Overall, the industry is expected to continue to grow in the coming years.

Recent groundbreaking advancements and milestones in the Credit Unions Not Federally Chartered industry, reflecting notable innovations that have reshaped its landscape.

• Digital Banking: Credit Unions Not Federally Chartered have been investing in digital banking to provide their customers with more convenient and accessible services.
• Mobile Banking: Many Credit Unions Not Federally Chartered have developed mobile banking apps to allow their customers to access their accounts on the go.
• Contactless Payments: Credit Unions Not Federally Chartered have been adopting contactless payment technology to provide their customers with a more convenient and secure payment method.
• Personalized Services: Credit Unions Not Federally Chartered have been offering personalized services to their customers to provide them with a more tailored experience.
• Financial Education: Many Credit Unions Not Federally Chartered have been offering financial education programs to their customers to help them make informed financial decisions.