EditorвЂ™s note: here is the 2nd weblog in a series directed at comprehending the exactly what, where, why, and exactly how of unbanked and underbanked households.
If you value maps, this is basically the post for you personally. If you prefer numbers, listed below are two crucial ones: seven and 20.
In final monthвЂ™s feature regarding the unbanked and underbanked, we defined just what the terms mean: unbanked and underbanked households reside outside the economic conventional, depending on varying quantities of expensive alternative financial services like pay day loans or check cashers.
But where are these households that are underserved? Are unbanked communities also underbanked?
To answer those relevant concerns, letвЂ™s start with seven. Nationwide, about seven percent of households are unbanked. (more…)