Characteristics of Unbanked & Under-banked Households - United States, 2017
Unbanked – No one in the household has a checking or savings account.
Underbanked – If a household has a checking or savings account and still had to use an alternative financial service provider in the past 12 months. Such as money orders, payday loans, pawn shop loans, etc.
Fully Banked – A household has a checking or savings account and did not have to use alternative financial services in the past year.
Household Characteristics | Number of Households (1000s) | Unbanked Households (Percent) | Underbanked Households (Percent) | Banked: Fully Banked Households(Percent) |
---|---|---|---|---|
All | 129,276 | 6.5% | 18.7% | 68.4% |
Family Income | ||||
Less than $15,000 | 15,997 | 25.7% | 20.9% | 47.7% |
$15,000 to $30,000 | 19,842 | 12.3% | 22.4% | 58.3% |
$30,000 to $50,000 | 25,610 | 5.1% | 22.8% | 65.4% |
$50,000 to $75,000 | 23,763 | 1.5% | 19.7% | 72.8% |
At least $75,000 | 44,064 | 0.6% | 13.3% | 79.9% |
Household Type | ||||
Female Individual | 24,262 | 7.6% | 15.7% | 70.0% |
Male Individual | 21,776 | 9.2% | 18.9% | 65.3% |
Unmarried Female-headed Family | 15,172 | 15.4% | 27.5% | 51.2% |
Unmarried Male-headed Household | 6,600 | 9.9% | 25.4% | 58.5% |
Married Couple | 61,138 | 2.5% | 16.9% | 74.3% |
Race/Ethnicity | ||||
Caucasian | 85,599 | 3.0% | 14.1% | 77.1% |
African-American | 18,201 | 16.9% | 30.4% | 45.8% |
Asian | 6,792 | 2.5% | 17.5% | 69.2% |
Other | 2,030 | 12.8% | 28.0% | 55.8% |
Hispanic | 16,655 | 14.0% | 28.9% | 49.7% |
Language | ||||
Spanish is Not Only Language Spoken | 124,329 | 5.8% | 18.2% | 69.7% |
Spanish is Only Language Spoken | 4,947 | 24.4% | 32.2% | 36.0% |
Age Group | ||||
15-24 | 6,625 | 10.0% | 29.3% | 56.5% |
25-34 | 20,997 | 8.5% | 23.1% | 62.5% |
35-44 | 21,532 | 7.8% | 22.2% | 63.6% |
45-54 | 23,277 | 6.9% | 19.3% | 67.1% |
55-64 | 24,484 | 5.9% | 17.8% | 70.3% |
65+ | 32,361 | 3.9% | 11.6% | 77.5% |
Disability Status | ||||
Disabled, age 25 to 64 | 11,297 | 18.1% | 24.7% | 52.2% |
Not Disabled, age 25 to 64 | 78,993 | 5.7% | 19.9% | 68.0% |
Not applicable (not age 25 to 64) | 38,985 | 4.9% | 14.6% | 73.9% |
Education | ||||
No High School Diploma | 12,461 | 22.4% | 24.3% | 46.3% |
High School Diploma | 33,334 | 9.4% | 20.3% | 63.7% |
Some College | 37,355 | 5.1% | 20.8% | 67.8% |
College Degree | 46,127 | 1.3% | 14.4% | 78.3% |