Last month, we looked at states that have high average total household assets. This month, we dive into deposits. The average U.S. household allocates approximately 25% of their portfolio toward deposits across interest checking, non-interest checking, Certificates of Deposit (CDs), savings, money market accounts, and other cash equivalents.
But households in some states sock away much more of their assets in the bank. Which states have the highest percent allocation toward deposits? Which states have seen the highest percent growth in deposits in the past three years? Let’s take a look. Then, contact us to better assess deposit growth for households in your target markets and where you may have additional opportunity for growth.
Source: MarketMix™
State-Level Outstanding Bank Card Balances
Which states have households with the highest average outstanding bank card balances?
States with the highest outstanding bank card balance per household (compared to U.S. average of $6,414)
- Alaska $8,792
- New Jersey $8,474
- Hawaii $8,284
Source: CreditStyles® Pro
Want to learn more?
Contact your account representative or click here.
The post Household Deposits: Which States Outshine the Rest? appeared first on Equifax Data-driven Marketing.
