Community Investments Vol 22, Issue 1
Data Snapshot: The Unbanked and Underbanked

Author(s): Federal Reserve Bank of San Francisco

The FDIC recently released the National Survey of Unbanked and Underbanked Households. An estimated 7.7 percent of U.S. households are unbanked (do not have a checking or savings account) while an additional 17.9 percent are underbanked (have a checking or savings account but rely on alternative financial services).