Money Management Methods of America’s Superbanked and Unbanked

The American banking industry is subject to many different kinds of consumer trends. In a new complimentary study, Scarborough has identified that 10 percent of American adults are Atypical Bankers – they are either Superbanked or Unbanked.

Scarborough defines Superbanked Consumers as U.S. adults who live in a household that has multiple assets accounts at financial institutions. They make up five percent of American households and specifically, Superbanked Consumers have: a checking, savings, money market account and certificate of deposits (CDS), and at least one of the following investments: stocks or stock options, bonds, mutual funds, money market funds, second home or real estate property and other securities or investments. Unbanked Consumers also make up five percent of American households and they are defined by Scarborough as U.S. adults who live in a household that does not use a bank or credit union.

“This banking study explores Atypical Bankers revealing where they can be reached and identifying activities and financial services that are important to them,” says Alisa Joseph, vice president of advertiser services for Scarborough. “By understanding the Superbanked and Unbanked Consumers, financial institutions, media companies and marketers can understand both the consumer in need of assistance with their complicated portfolio, as well as the consumer who has no assistance as of yet with their money management.”

Ninety-three percent of Superbanked Consumers have used any credit card in the past three months and 49 percent have used online banking in the past 30 days. Superbanked Consumers are also 64 percent more likely than all U.S. adults to have a college degree or more. Unbanked Consumers are 11 percent more likely than all U.S. adults to be women and 38 percent more likely to be unmarried. Forty-five percent of Unbanked Consumers have children under the age of 18 living in their household. Twenty-three percent of Unbanked Consumers have used any credit card in the past three months and seven percent used a check cashing service in the past year.

To view our complimentary study on Atypical Bankers in its entirety, click here.

 

SOURCE: The source for the data in this article is Scarborough USA+ Release 2 2011.

Superbanked Adults : 11,300,000 / Unbanked Adults : 12,200,000

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