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 County2,682
Ashley County2,935
Baxter County3,757
Benton County19,187
Boone County3,423
Bowie County, Texas9,505
Bradley County1,756
Calhoun County568
Carroll County3,110
Chicot County1,903
Clark County2,565
Clay County1,884
Cleburne County2,559
Cleveland County805
Columbia County2,979
Conway County2,583
Craighead County10,619
Crawford County5,675
Crittenden County6,825
Cross County2,420
Dallas County1,279
Desha County2,361
Drew County2,689
Faulkner County10,776
Franklin County2,027
Fulton County1,483
Garland County9,806
Grant County1,484
Greene County4,192
Hempstead County2,929
Hot Spring County3,215
Howard County1,830
Independence County3,507
Izard County1,455
Jackson County2,071
Jefferson County9,736
Johnson County3,225
Lafayette County1,123
Lawrence County1,948
Lee County1,608
Lincoln County1,154
Little River County1,438
Logan County2,537
Lonoke County6,056
Madison County1,526
Marion County1,820
Miller County5,084
Mississippi County5,758
Monroe County1,349
Montgomery County1,012
Nevada County1,295
Newton County730
Ouachita County3,362
Perry County824
Phillips County3,300
Pike County1,294
Poinsett County2,775
Polk County2,259
Pope County5,753
Prairie County1,265
Pulaski County44,922
Randolph County2,159
Saline County8,654
Scott County1,253
Searcy County866
Sebastian County12,861
Sevier County2,186
Sharp County2,013
St. Francis County3,565
Stone County1,361
Union County4,849
Van Buren County1,843
Washington County21,952
White County7,131
Woodruff County1,083
Yell County2,068

Source: Prosperity Now



NATIONAL RANKING
41

OUT OF 51
2017

STATE TREND

Maintaining


32.3%

2017
1% = 23,062
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 2017, nearly 10% of households were unbanked and 23% were underbanked, higher than national rates of 7% and 20%. In terms of its percentage of unbanked or underbanked households, Arkansas was 41st in the nation, including the 50 states and Washington, D.C. Rates were much higher among some groups, with 31% of black or African American households and 24% of Hispanic households underbanked, compared to 17% 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
Arkansas372,445

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 Maintaining
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 Decreasing
Homeownership Rate Decreasing
Child Abuse and Neglect Decreasing
Access to Financial Services Maintaining
Food Insecurity Decreasing
Incarceration Rate Increasing
Homelessness Decreasing
Change in Total Jobs Maintaining
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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