Prepared for Egeria | Delivered May 19, 2020
The Unbanked - Demographic Analysis (US)
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To provide a demographic analysis of individuals who do not operate a banking account in the United States.
Demographic Analysis of Unbanked Individuals
In the U.S., the majority of the unbanked population skew towards poorer households.
of households that do not operate any banking accounts earn less than $15,000 per annum.
of unbanked households earn between $15,000
$30,000 per annum, while
earn between $50,000
$75,000 per annum.
The majority of the unbanked Americans also skew towards adults with little or no college education.
of adults without a banking account do not possess a high school diploma. For
of such individuals, a high school diploma is their highest qualification.
possess some college education, while only
possess a college degree.
The unbanked population in the U.S. skew heavily towards Black Americans and Hispanics.
of Black Americans do not operate a banking account.
of Hispanics are also not included in the financial service sector. On the other hand, only
of Asians, and
of White Americans do not own a banking account.
There is an
of male to female unbanked adults in the United States. According to the World Bank, there's
between male and female ownership of banking accounts in the US.
According to the latest statistics provided by the FDIC,
of individuals between the ages of 15 -24 do not own a banking account. Similarly,
of individuals between the ages of 25 -34;
of individuals between the ages of 45 -54; and
of individuals between the ages of 54 -64 do not operate a banking account in the U.S.
A significant proportion of unbanked individuals reside in the
region of the U.S. The states with the
of unbanked adults include Texas, Louisiana, New Mexico, Oklahoma, and Mississippi.