No Bank Account?!

While I don’t remember how old I was when I did it, opening my first savings account at the bank was a big deal.  Apparently, there are many households throughout the country that do not rely on banks at all and have neither a checking nor a savings account.  Here are the state rankings showing the highest and lowest percentages of households in which no one had a checking or savings account (according to the 2015 FDIC National Survey of Unbanked and Underbanked Households).

Lowest percentage
1. Vermont (1.5%)
2. New Hampshire (1.8%)
3. Maine (2.3%)
4. Hawaii (2.4%)
4. Wyoming (2.4%)
6. North Dakota (3.0%)
7. Wisconsin (3.4%)
7. Minnesota (3.4%)
9. Alaska (3.5%)
10. Idaho (3.6%)

Highest percentage
1. Louisiana (14.0%)
2. Mississippi (12.6%)
3. Alabama (12.5%)
4. Georgia (11.9%)
5. Oklahoma (11.0%)
6. Tennessee (10.8%)
7. Arkansas (9.7%)
8. Texas (9.4%)
8. New Mexico (9.4%)
10. Kentucky (9.0%)

Source: AARP Bulletin, Databank USA, January-February 2017.

 

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