Employment Influence
Making Connections neighborhood families who experienced part-time employment or unemployment were more likely to rely on family and friends to deal with financial emergencies than families who had full time jobs.
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.
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.