Families
Access to Financial Services



Source: Federal Deposit Insurance Corporation
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: Federal Deposit Insurance Corporation
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: Federal Deposit Insurance Corporation



NATIONAL RANKING
39

OUT OF 51
2017

STATE TREND

Decreasing


26.5%

2017
1% = 12,060
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, slightly under 8% of households were unbanked and 19% were underbanked, both rates lower than in 2009 when they were 10% and 23% respectively. Arkansas rates were similar to those of the nation as a whole. Unlike Arkansas, national rates did not change much from their 2009 levels.

In terms of its percentage of unbanked or underbanked households, Arkansas was 39th in the nation, including the 50 states and Washington, D.C. This represents an improvement from 2015 when Arkansas ranked 42nd, and a further improvement from 2009 when Arkansas ranked 47th.

Rates were much higher among some groups, in 2015, the most recent year for which these estimates are available, 31% of black or African American households and 24% of Hispanic households were 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 as of 2015, the most recent year for which these estimates are available.

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.

Prosperity Now's Scorecard estimates are used for county-level and race-ethnicity data. Please see the organization's methodology documents (https://scorecard.prosperitynow.org/methodology#household-wealth-local) for additional details on how these estimates are developed.




Source: Federal Deposit Insurance Corporation


Access to Financial Services
Unbanked or Underbanked Households
Arkansas26.5%

Source: Federal Deposit Insurance Corporation
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
Arkansas319,590

Source: Federal Deposit Insurance Corporation










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


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