Currently 25.6% of all U.S. households are unbanked or underbanked with disproportionately low-income. With nine million households unbanked-17 million adults-and 21 million households underbanked-43 million adults,- 21.7% of black households are unbanked; as are 19.3% of Hispanics and 15.6% of American Indian/Alaskans. Only 3.5% Asians and 3.3% of whites were unbanked. These findings, according to the FDIC “National Survey of Unbanked and Underbanked Households,” also show among the underbanked- those who rely on alternative financial services such as non-bank money orders and the like- 31.6% of black households partook, as did 28.9% American Indian/Alaskans, 24% of Hispanics 7.2% of Asian households and 14.9% of white households. Additional findings show households with income under $30,000 account for at least 71% of unbanked households; nearly 20% of lower-income U.S. households do not have a bank account; and 4.2% of households with annual income between $30,000 and $50,000 are unbanked.
HOUSEHOLDS & UNBANKED (%)
Native American: 15.6