FDIC Releases National Survey of Unbanked and Underbanked — 2014-10-29

Unbanked Households Decline to 9.6 Million The Federal Deposit Insurance Corporation (FDIC) today released the results of the 2013 FDIC National Survey of Unbanked and Underbanked Households, the most comprehensive survey on the subject in the United States. The survey indicates that the proportion of unbanked households declined from 8.2 percent in 2011 to 7.7 percent in 2013, while the share of underbanked households remained essentially unchanged at 20.0 percent. The decrease in the proportion of the unbanked can be explained by improving economic conditions and the changing demographic composition of households. The survey, conducted every two years by the FDIC in partnership with the U.S. Bureau of the Census, provides the banking industry and policy makers with insights and guidance on the demographics and needs of the unbanked and underbanked. New to the 2013 survey are questions related to how consumers access their bank accounts.