EditorвЂ™s note: here is the 2nd weblog in a series directed at comprehending the just what, where, why, and exactly how of unbanked and underbanked households.
If you value maps, this is actually the article for you personally. If you prefer numbers, listed below are two essential people: seven and 20.
In final monthвЂ™s feature from the unbanked and underbanked, we defined exactly what the terms mean: unbanked and underbanked households live not in the economic conventional, 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 respond to those concerns, letвЂ™s begin with seven. Nationwide, about seven % of households are unbanked. But that populace of unbanked households just isn’t evenly distributed throughout the states.