Report

This report analyzes survey data about the use of financial services by families living in the 10 Making Connections cities across the United States. The report evaluates resident responses by their use of bank services, check cashing services, payday lenders, pawn shops and credit cards, as well as how they would respond to financial emergencies. It correlates how factors such as race/ethnicity, immigrant status, income, employment level, and neighborhood of residence influenced the use of financial services. 

January 3, 2006

In This Report, You’ll Learn

  1. 1

    What residents in the Making Connections neighborhoods said about their use of financial services.

  2. 2

    Analysis of why families in the initiative neighborhoods don't use banking or check cashing services.

  3. 3

    Analysis of access to financial services in the Making Connections neighborhoods.

  4. 4

    How factors such as race/ethnicity, immigrant status, income, employment level, and neighborhood of residence influenced the use of financial services.

Key Takeaway

Residents in Making Connections neighborhoods

Resident responses indicate that low-income families surveyed were more likely to use a mix of financial services, including commercial banks and check cashing services, than residents in the surrounding county. Responses also showed that a majority of residents in the initiative neighborhoods used commercial banking services. 

Caption: Household financial service use by Making Connections neighborhood families compared to those in surrounding county  

Findings & Stats

Statements & Quotations