Searching South by Southwest to Map America’s Unbanked

Searching South by Southwest to Map America’s Unbanked

Editor’s note: this is actually the 2nd weblog in a series directed at comprehending the just what, where, why, and just how of unbanked and underbanked households.

This is the blog post for you if you love maps. Of course you prefer numbers, listed below are two crucial people: seven and 20.

In final month’s feature in the unbanked and underbanked, we defined just what the terms mean: unbanked and underbanked households reside not in the mainstream that is financial counting on varying examples 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 begin with seven. Nationally, about seven % of households are unbanked. But that populace of unbanked households just isn’t evenly distributed across the states. Of this unbanked states, Louisiana gets the percent that is highest of unbanked households at over 13 per cent. In comparison, just 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 regarding the population that is underserved. So, let’s proceed to the 2nd number that is important 20. The next map shows states that have actually underbanked populations over the nationwide average of approximately 20 per cent.

At first, comparing the general thickness of unbanked and underbanked households lends some key insights. To begin, there clearly wasn’t a partisan divide: unbanked and underbanked households exist in states as deeply blue as Ca and nyc and also as ruby-red as Alabama and Arkansas. Continuer la lecture de « Searching South by Southwest to Map America’s Unbanked »