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Executive Summary

Public confidence in the banking system stems in part from how effectively banks serve the needs of the nation’s diverse population. Accordingly, the FDIC is committed to expanding Americans’ access to safe, secure, and affordable banking services. The FDIC National Survey of Unbanked and Underbanked Households is one contribution to this end. To assess the inclusiveness of the banking system, and in partial response to a statutory mandate, the FDIC has conducted
the survey biennially since 2009.

The most recent survey was administered in June 2015 in partnership with the U.S. Census Bureau, collecting responses from more than 36,000 households. The survey provides estimates of the proportion of U.S. households that do not have an account at an insured institution, and the proportion that have an account but obtained (nonbank) alternative financial services in the past 12 months. The survey also provides insights that may inform efforts to better meet the needs of these consumers within the banking system.

This executive summary presents key results from the 2015 survey and summarizes the implications of these results for policymakers, financial institutions, and other stakeholders who are working to improve access to mainstream financial services.

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