Searching Southern by Southwest to Map America’s Unbanked

Searching Southern by Southwest to Map America’s Unbanked

Editor’s note: This is the blog that is second a series geared towards knowing the exactly what, where, why, and exactly how of unbanked and underbanked households.

If you value maps, this is basically the article for you personally. If you want numbers, listed below are two essential people: seven and 20.

In final month’s feature regarding the unbanked and underbanked, we defined exactly what the terms mean: unbanked and underbanked households reside outside the mainstream that is financial counting on varying levels of high priced alternative financial services like pay day loans or check cashers.

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

To resolve those concerns, let’s focus on seven. Nationwide, about seven per cent of households are unbanked. But that populace of unbanked households just isn’t evenly distributed throughout the states. Associated with the unbanked states, Louisiana has got the greatest % of unbanked households at over 13 per cent. By comparison, only 1.5 % of households in Vermont are unbanked.

The states with the highest unbanked population are concentrated in the southern half of the country as the below map shows. Every state that has a higher than average proportion of unbanked households lies south of the Mason-Dixon line with the exception of New York and California.

But that map just informs one snapshot tale associated with population that is underserved. Therefore, let’s proceed to the next number that is important 20. The next map shows states that have actually underbanked populations over the nationwide average of approximately 20 %.

At first, comparing the density that is relative of and underbanked households lends some key insights. To start out, there wasn’t a partisan divide: unbanked and underbanked households exist in states as deep blue as Ca and ny and also as ruby-red as Alabama and Arkansas. 继续阅读“Searching Southern by Southwest to Map America’s Unbanked”