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Searching Southern by Southwest to Map America’s Unbanked

Editor’s note: This is basically the blog that is second a series targeted at comprehending the just what, where, why, and exactly how of unbanked and underbanked households.

If you’d prefer maps, here is the article for you personally. Of course you want numbers, listed here 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 outside the mainstream that is financial depending on varying quantities of high priced alternative financial services like payday loans or check cashers.

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

To respond to those questions, let’s focus on seven. Nationwide, about seven % of households are unbanked. But that populace of unbanked households isn’t evenly distributed throughout the states. Associated with unbanked states, Louisiana gets the percent that is highest of unbanked households at over 13 %. By comparison, only 1.5 per cent of households in Vermont are unbanked.

Once the below map programs, the states using the greatest unbanked populace are focused into the southern 50 % of the nation. Except for ny and Ca, every declare that has a greater than typical percentage of unbanked households lies south associated with Mason-Dixon line.

But that map just tells one snapshot tale associated with underserved populace. Therefore, let’s proceed to the 2nd crucial quantity: 20. The map that is next states that have actually underbanked populations above the nationwide average of approximately 20 %. Continue reading

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