From 1989 to 2019, the percentage of U. S. adults with bank accounts rose from 85.6 to 94.5 percent. This is also true in the increased number of bank accounts owned by members of minority groups over the same time period, especially for Black and Hispanic consumers.
Black adults increased bank account ownership from 56.7 to 86.8 percent and Hispanics increased from 63.5 to 89.5 percent. Though these surveys show significant improvement over the past decades, there is still further progress to make. In fact, our SHED survey data helps to identify characteristics of those who may choose not to use a deposit account or do not have access to one.