Families
Access to Financial Services



Source: Prosperity Now
Access to Financial Services
Unbanked or Underbanked Households
Arkansas County34.9%
Ashley County35.2%
Baxter County20.8%
Benton County21.8%
Boone County23.0%
Bowie County, Texas28.3%
Bradley County38.6%
Calhoun County27.3%
Carroll County28.6%
Chicot County43.4%
Clark County29.2%
Clay County29.2%
Cleburne County24.7%
Cleveland County24.1%
Columbia County31.3%
Conway County30.9%
Craighead County27.2%
Crawford County24.1%
Crittenden County36.9%
Cross County36.1%
Dallas County39.7%
Desha County45.2%
Drew County37.9%
Faulkner County24.8%
Franklin County29.9%
Fulton County28.3%
Garland County24.3%
Grant County21.6%
Greene County25.0%
Hempstead County37.9%
Hot Spring County26.3%
Howard County36.1%
Independence County24.5%
Izard County27.2%
Jackson County33.3%
Jefferson County35.2%
Johnson County32.2%
Lafayette County38.1%
Lawrence County29.5%
Lee County45.4%
Lincoln County29.3%
Little River County27.7%
Logan County30.2%
Lonoke County23.3%
Madison County24.3%
Marion County27.3%
Miller County29.9%
Mississippi County34.2%
Monroe County40.8%
Montgomery County27.1%
Nevada County36.9%
Newton County22.5%
Ouachita County32.6%
Perry County22.1%
Phillips County41.5%
Pike County30.1%
Poinsett County29.3%
Polk County28.5%
Pope County25.1%
Prairie County32.9%
Pulaski County28.9%
Randolph County29.5%
Saline County20.3%
Scott County31.6%
Searcy County27.1%
Sebastian County25.5%
Sevier County36.4%
Sharp County27.5%
St. Francis County38.3%
Stone County27.4%
Union County29.6%
Van Buren County27.0%
Washington County26.3%
White County24.5%
Woodruff County37.1%
Yell County27.6%

Source: Prosperity Now
Notes: Underbanked: Percentage of households that have a checking and/or a savings account and have used non-bank money orders, non-bank check-cashing services, non-bank remittances, payday loans, rent-to-own services, pawn shops or refund anticipation loans (RALs) in the past 12 months. Unbanked: Percentage of households with neither a checking nor savings account.




Households with Limited Financial Access
Unbanked or Underbanked Households
Arkansas County2,702
Ashley County2,931
Baxter County3,778
Benton County18,676
Boone County3,441
Bowie County, Texas9,459
Bradley County1,775
Calhoun County580
Carroll County3,139
Chicot County1,959
Clark County2,535
Clay County1,930
Cleburne County2,509
Cleveland County803
Columbia County3,004
Conway County2,584
Craighead County10,533
Crawford County5,699
Crittenden County6,770
Cross County2,497
Dallas County1,289
Desha County2,383
Drew County2,772
Faulkner County10,715
Franklin County2,028
Fulton County1,500
Garland County9,790
Grant County1,482
Greene County4,171
Hempstead County2,965
Hot Spring County3,192
Howard County1,823
Independence County3,488
Izard County1,509
Jackson County2,111
Jefferson County9,898
Johnson County3,256
Lafayette County1,078
Lawrence County1,975
Lee County1,637
Lincoln County1,184
Little River County1,455
Logan County2,600
Lonoke County6,037
Madison County1,540
Marion County1,829
Miller County5,071
Mississippi County5,862
Monroe County1,373
Montgomery County1,055
Nevada County1,281
Newton County745
Ouachita County3,440
Perry County850
Phillips County3,376
Pike County1,311
Poinsett County2,721
Polk County2,255
Pope County5,684
Prairie County1,259
Pulaski County44,575
Randolph County2,164
Saline County8,587
Scott County1,281
Searcy County860
Sebastian County12,643
Sevier County2,211
Sharp County1,955
St. Francis County3,612
Stone County1,409
Union County4,895
Van Buren County1,857
Washington County21,493
White County7,204
Woodruff County1,080
Yell County2,122

Source: Prosperity Now



NATIONAL RANKING
41

OUT OF 51
2015

STATE TREND

Not Available


32.3%

2015
1% = 22,594
Households

What does this measure?

The percentage of households that have neither a checking nor savings account (unbanked) or have an account but instead relied on alternative financial services (underbanked) in the past 12 months.

Why is this important?

Having access to and using checking and savings accounts and other financial products can help families save money, plan for the future, and build credit. Rates of underbanked and unbanked households may indicate limited access to resources, especially in low-income communities.

How is Arkansas doing?

In 2015, nearly 10% of households were unbanked and 23% were underbanked, higher than national rates of 7% and 19%. This makes Arkansas 44th in the nation on this indicator. Rates were much higher among some groups, with 52% of black or African American households and 48% of Hispanic households unbanked or underbanked, compared to 22% of white households.

Un- or underbanked rates were over 40% in Monroe, Phillips, Chicot, Desha and Lee counties and below 22% in Saline, Baxter, Grant and Benton counties.

Notes about the data

Underbanked households are those that have a checking and/or a savings account but have used non-bank money orders, non-bank check-cashing services, non-bank remittances, payday loans, rent-to-own services, pawn shops or refund anticipation loans (RALs) in the past 12 months. Unbanked households have neither a checking nor savings account.




Source: Prosperity Now


Access to Financial Services
Unbanked or Underbanked Households
Arkansas32.3%

Source: Prosperity Now
Notes: Underbanked: Percentage of households that have a checking and/or a savings account and have used non-bank money orders, non-bank check-cashing services, non-bank remittances, payday loans, rent-to-own services, pawn shops or refund anticipation loans (RALs) in the past 12 months. Unbanked: Percentage of households with neither a checking nor savings account.




Households with Limited Financial Access
Unbanked or Underbanked Households
Arkansas364,901

Source: Prosperity Now






Source: Prosperity Now


Access to Financial Services by Race/Ethnicity
AsianBlack or African AmericanHispanicWhite
Arkansas24%52%48%22%

Source: Prosperity Now
Notes: Underbanked: Percentage of households that have a checking and/or a savings account and have used non-bank money orders, non-bank check-cashing services, non-bank remittances, payday loans, rent-to-own services, pawn shops or refund anticipation loans (RALs) in the past 12 months. Unbanked: Percentage of households with neither a checking nor savings account.




Households with Limited Financial Access by Race/Ethnicity
AsianBlack or African AmericanHispanicWhite
Arkansas0000

Source: Prosperity Now









INDICATORS TREND | STATE
Grade 3 Reading Increasing
Grade 8 Math Increasing
Graduation Rate Increasing
Remediation Rate Decreasing
Adults with a High School Degree Increasing
Adults with a Bachelor's Degree or Higher Increasing
Infant Mortality Decreasing
Early Prenatal Care Increasing
Overweight or Obese Students Increasing
Student Drug Usage Decreasing
Overweight or Obese Adults Increasing
Physically Inactive Adults Increasing
Smoking Rate Decreasing
Flouridated Water Increasing
Insurance Coverage Rates Increasing
Oral Health Increasing
Life Expectancy Increasing
Routine Check-ups Increasing
Births to Teens Decreasing
Female-headed Households Increasing
Children Living in Poverty Increasing
People Living in Poverty Increasing
Elderly Living in Poverty Decreasing
Median Household Income Maintaining
Unemployment Rate Maintaining
Homeownership Rate Decreasing
Child Abuse and Neglect Decreasing
Access to Financial Services Not Applicable
Food Insecurity Decreasing
Incarceration Rate Increasing
Homelessness Decreasing
Change in Total Jobs Increasing
Housing Affordability - Owning Maintaining
Housing Affordability - Renting Increasing
Voter Participation Rate Increasing
Charitable Giving Maintaining
Volunteering Decreasing
Group Participation Increasing
Connection to Neighbors Decreasing
Local Voting Decreasing
Change in Population Increasing
Change in Population by Race/Ethnicity Not Applicable
Change in Population by Age Not Applicable


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