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US unbanked households reached a record low of 4.5% in 2021

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The info: In 2021, the amount of unbanked households in the US reached its lowest stage as a result of the Federal Deposit Insurance Corporation (FDIC) began conducting the biennial Survey of Unbanked and Underbanked Households.

Financial assist was the necessary factor driver: The survey revealed that 4.5% (5.9 million) of US households didn’t have a checking or monetary financial savings account in 2021. This share is the underside amount recorded as a result of the survey first began in 2009.

The study found that one of the first drivers behind this share was residents opening accounts to acquire financial assist via the pandemic.

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