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 understanding the just what, where, why, and exactly how of unbanked and underbanked households.

This is the blog post for you if you love maps. If you love numbers, listed below are two ones that are important seven and 20.

In final month’s feature from 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 quantities of high priced alternative financial services like pay day loans or check cashers.

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

To respond to those relevant concerns, let’s focus on seven. Nationwide, about seven % of households are unbanked. But that populace of unbanked households just isn’t evenly distributed over 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.

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. Continue reading “Searching Southern by Southwest to Map America’s Unbanked”