ICBA Statement on FDIC Report on Unbanked and Underbanked

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ICBA and the nation’s community bankers are pleased to see the rate of unbanked households decline by an estimated 1.5 million people and half a million households.

Community banks are committed to serving unbanked and underbanked households, such as by offering affordable small-dollar deposit and loan products with low interest rates and low or no origination fees.

Independent Community Bankers of America® (ICBA) President and CEO Camden R. Fine released this statement on an FDIC study released that found the proportion of unbanked households declined from 2011 to 2013.

“ICBA and the nation’s community bankers are pleased to see the rate of unbanked households decline by an estimated 1.5 million people and half a million households. Community banks are committed to serving unbanked and underbanked households, such as by offering affordable small-dollar deposit and loan products with low interest rates and low or no origination fees.

“The community banking industry also continues working to improve their available products and services for existing and potential customers. Last year’s ICBA Community Bank Payments Survey found that the number of community banks offering mobile payments increased 23 percent from 2011, reflecting the continuously improving availability of community bank products and services.

“ICBA and community bankers welcome opportunities to serve new, existing and potential customers. Meanwhile, we continue to support effective and voluntary financial education to protect consumers, foster financial stability and benefit individuals, underserved communities, and our nation as a whole.”

About ICBA
The Independent Community Bankers of America®, the nation’s voice for more than 6,500 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit http://www.icba.org.

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Aleis Stokes
Independent Community Bankers of America
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since: 04/2011
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