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Searching Southern by Southwest to Map America’s Unbanked

Searching Southern by Southwest to Map America’s Unbanked

Editor’s note: here is the 2nd weblog in a series targeted at knowing the just what, where, why, and exactly how of unbanked and underbanked households.

If you’d prefer maps, this is basically the post for your needs. Of course you want numbers, listed below are two crucial people: seven and 20.

In final month’s feature in the unbanked and underbanked, we defined exactly what the terms mean: unbanked and underbanked households reside not in the economic main-stream, counting on varying quantities of expensive alternative financial services like pay day loans or check cashers.

But where are these households that are underserved? Are unbanked communities also underbanked?

To resolve those concerns, let’s begin with seven. Nationwide, about seven % of households are unbanked. But that populace of unbanked households is certainly not evenly distributed throughout the states. For the unbanked states, Louisiana gets the greatest per cent of unbanked households at over 13 per cent. In comparison, just 1.5 % of households in Vermont are unbanked.

Since the below map programs, the states aided by the greatest unbanked populace are focused when you look at the southern 1 / 2 of the united states.