Abstract

In early 2000, the North Carolina Division of Social Services requested us to conduct the North Carolina Financial Services Survey. The survey was designed to accomplish four objectives:

Determine the size and composition of the unbanked population of working class North Carolinians, and their reasons for not owning any kind of transaction account at mainstream financial institutions. Identify the factors that limit these households' access to such services. Gain a greater understanding of how unbanked and banked working families meet their financial services needs, and determine the extent to which their choices are market-driven or a function of other factors.

Determine whether the NC Division of Social Services should make greater access to mainstream financial services and asset-building an integral part of the state's welfare reform system and, if so, how.

Related Presentations:

Welfare, Work and Banking: The Use of Consumer Credit by Current and Former TANF Recipients in Charlotte, North Carolina
Journal of Urban Affairs , Vo. 27, No. 4, pp. 379-402
September 2005

Welfare, Work and Banking: The Use and Abuse of Consumer Credit by TANF Recipients and Leavers in North Carolina
Working Paper
May 2003

Welfare, Work, Banking, and Credit: Preliminary Findings from The North Carolina Financial Services Survey"
Presented by Michael Stegman and Robert Faris at a PhD seminar in Public Policy at the University of North Carolina at Chapel Hill
Jan. 17, 2003

Banking Relationships of Low Income Families in North Carolina: Results from the North Carolina Financial Services Survey"
Prepared for the North Carolina Banking Commission
Author: Michael Stegman
Oct. 23, 2002

Banking the Unbanked
Statewide Conference on Financial Literacy and Asset Building, Chapel Hill, N.C.
Presentation by Joseph A. Smith, N.C. Commissioner of Banks, based on research by the Center for Community Capitalism, University of North Carolina at Chapel Hill
Sept. 27, 2005