The locations of financial services are important because visiting a teller is the primary way that lower-income and minority households make transactions. And, different types of financial services may affect households differently. While a greater concentration of mainstream financial services including banks and credit unions is associated with households’ better financial health, like saving for emergencies and making investments, a greater concentration of alternative financial services (AFS) including payday lenders and check cashers is associated with their worse financial health, like having difficulty affording bills and obtaining health insurance. In communities that have fewer banks and credit unions or more AFS, post offices may be able to expand access. Where are these financial services located?
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