Bank Deserts

A "Bank Desert" is a new term coined to describe an area that does not have a bank branch or may not have a bank branch anymore as the under performing expensive traditional bank branch was closed.
Washington DC has an urban core with 17 blocks without a bank branch.
Many rural areas (see maps) and entire counties do not have access to a bank branch.

California
banking deserts map in california

Chicago
banking deserts map in chicago
underbanked percent in chicago

Kentucky
bank of kentucky

Nevada
nevada banking

Mid South

With thanks to Hope Policy.

banking mid south USA

As per the FDIC Study Oct. 2014 150 million Americans are considered unbanked or underbanked.

Banking Status of U.S. Households

7.7 percent of households in the United States were unbanked in 2013. This proportion represented nearly 9.6 million households composed of approximately 16.7 million adults adults and 8.7 million children (1).


20.0 percent (24.8 million) of U.S. households were underbanked in 2013, meaning that they had a bank account but also used alternative financial services (AFS) outside of the banking system. Approximately 50.9 million adults and 16.6 million children lived in underbanked households.


67.0 percent (82.5 million) of U.S. households were considered fully banked in 2013.


HOWEVER the FDIC Study further states that: Adults are defined as people aged 16 and older.


A banked household may have one or more unbanked adultsthese unbanked adults residing in banked households are not included in the 16.7 million adults figure cited in this report.


[Therefore adding at least another 82.5 million adults to the Total]


16.7 + 50.9 + 82.5


TOTAL = 150.1 million ”Bank Challenged” (unbanked / underbanked)


FDIC Study Oct 2014

NOTE: 2000 Federal Reserve Bank study = 43 million. 2008 VISA study = 108 million

Since 2008, 93% of bank branch closings have been in zip codes with below-national median household income levels. Meanwhile, banks have been opening branches in areas with median incomes above $100,000. Pew Charitable Trusts

Biz Journal: More than 1,600 bank branch closures in the U.S. last year (2015)

Wall Street Journal: The number of U.S. bank branches has fallen to the lowest level since 2005

Washington Post: Say goodbye to your neighborhood bank branch

CNBC: Bank branches slowly fading away in neighborhoods

A bank or credit union account can be the first step in saving, planning for the future, building credit and climbing the economic ladder, but more than nine million American households don't have one. See page 3 for more information about the data.

Click the image to read more....

Most Unbanked Places in America

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Bank Deserts have formed in Low to Mid Income areas resulting in
a "Bank Challenged" (unbanked / underbanked) population.


Bank Deserts =

Bank Deserts bank deserts in America
Low to Mid Income =

Economics Poverty Rates Economics Poverty Rates in America
Bank Challenged

FIDC Unbanked Rate FIDC Unbanked Rate
= Predatory Check Cashers and Pay Day Loan Expansion Rates of 11-15% per Year

INTERACTIVE LIVE MAP OF DISTRESSED ZIP CODES!!!

Interactive Map

TAP MAP to EXPAND. HOVER OVER MAP TO DISPLAY ZIP CODES!

Tap to open window for more info.


FFIEC Community Reinvestment Act

Distressed and Underserved Tracts

List of Distressed or Underserved Nonmetropolitan Middle-Income Geographies

https://www.ffiec.gov/cra/distressed.htm

Download Excel and PDF files.


Other Bank Desert Maps

California

Map of the number of banks and payday lender stores in California counties

banks and lenders in california

Chicago

unbanked chicago
underbanked percent in chicago

Kentucky

Kentucky Banking Deserts – Zip Codes With No Banks (Shaded Zip Codes)

banking kentucky in America

Nevada

Nevada Banking Deserts – Zip Codes With No Banks (Shaded Zip Codes)

banking Deserts in nevada

Mid South

With thanks to Hope Policy.

banking mid south usa

Urban and Rural Bank Desert States

States with More Than 10 Urban or Rural Bank Deserts State Urban Bank Deserts Rural Bank Deserts
California 62 48
Texas 36 46
New York 32 18
Pennsylvania 21 35
Ohio 18
Florida 17 63
Illinois 13
New Jersey 13 11
Missouri 11
South Carolina 20 20
Tennessee 19 19
Virginia 19 19
Georgia 43
Alabama 38
North Carolina 38
Arizona 22
Washington 21
Arkansas 17
Louisiana 15
Maryland 11
Mississippi 11
Combined Statistical Areas with at Least 8 Urban Deserts
New York-Newark, NY-NJ-CT-PA 40
Los Angeles-Long Beach, CA 36
Washington-Baltimore-Arlington, DC-MD-VA-WV-PA 11
Dallas-Fort Worth, TX-OK 11
Philadelphia-Reading-Camden, PA-NJ-DE-MD 10
Pittsburgh-New Castle-Weirton, PA-OH-WV 10
Boston-Worcester-Providence, MA-RI-NH-CT 9
Houston-The Woodlands, TX 9
Omaha-Council Bluffs-Fremont, NE-IA 9
San Jose-San Francisco-Oakland, CA 9
Atlanta-Athens-Clarke County-Sandy Springs, GA 8
Chicago-Naperville, IL-IN-WI 8

Banking the Unbanked: Bank Deserts in the United States
Russell D. Kashian, Ran Tao, Claudia Perez-Valdez
University of Wisconsin, Whitewater


See the Money.ccn.com National Unbanked Map of the USA here!

cnn unbanked map