For the first time in over 50 years, the majority of U.S. public school students are in poverty. Many of these students come from families that are underbanked, which accounts for roughly 20% of the population. Without access to financial education, teens and young adults from these families are likely to remain underbanked.
As a trusted financial service provider, your bank can play an important role in addressing this challenge. EVERFI recently published Technology is the New Branch: 4 Solutions to Reaching Underbanked Communities, a new guidebook for bank leadership that shares guidance for banks in reaching underbanked communities.
Download the guide to learn:
- The latest trends on underbanked populations in the U.S.
- How underbanked teens differ from peers and the impact of financial education on this population
- 4 solutions banks can integrate into their financial education programs to increase banking in underbanked communities