CUs required to complete Economic Census

U.S. CENSUS BUREAU LOGOCredit unions that received an Economic Census are required by law to complete the census by June 12. Filing is done using the U.S. Census Bureau’s online portal.

Every five years, the bureau conducts the Economic Census, which is the official measure of the nation’s businesses and economy.

According to the Census Bureau, “businesses, policymakers, governments and communities use Economic Census data for economic development, business decisions, and strategic planning.  The Economic Census serves as the statistical benchmark for current economic activity such as the Gross Domestic Product and the Producer Price Index. It provides information on business locations, the workforce, and trillions of dollars of sales by product and service type.  Comprehensive information is generated for almost one thousand different industries and thousands of geographic.”

Not all companies are sent the survey. In particular, “very small firms” do not generally receive the census.

To learn more, view the bureau’s list of frequently asked questions pertaining to the Economic Census.

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