Using The Banking Deserts Map

The Banking Deserts Map in Peer+'s market analysis section, powered by FedCommunities data, combines with census and Callahan's branch data, equips credit unions with the insights needed to identify underserved areas. This tool supports the development of targeted strategies to drive growth, enhance community outreach, and foster innovation in regions with limited banking access.

Why Credit Unions Should Explore Banking Deserts

• Membership Growth: Expanding into banking deserts allows credit unions to attract new members. These underserved communities are often in need of alternatives to payday lenders and check-cashing services, aligning with credit unions' mission to support the underserved.
• Community Outreach and Expansion: Banking deserts offer a unique opportunity for credit unions to fill a critical service gap. Whether through opening branches or partnering with local organizations, credit unions can provide essential financial services to these communities.
• Market Opportunities: With limited competition from traditional banks in banking deserts, credit unions can establish themselves as the primary financial service provider, driving sustainable long-term growth and increasing market share.
• Addressing Financial Inclusion: Banking deserts are often home to unbanked or underbanked populations. By entering these areas, credit unions can bridge the gap in financial access, offering services such as checking accounts, loans, and financial education, which empower individuals and contribute to economic stability.

Explore the Banking Deserts Map below to see how your credit union’s footprint aligns with regional banking deserts, and identify potential areas for expansion.

Navigating the Banking Deserts Map

The Banking Deserts Map is an interactive feature available exclusively from Peer+, in the Market Overviews section.

Begin By Selecting A Comparison Set: This defines the data shown on the Banking Deserts Map.

• The Market line dictates the geographic footprint highlighted on the map.
• The Institution line determines credit unions or bank pins called out on the map.  

Key Map Features

• Market Boundaries: Yellow outlines indicate the counties in your selected market(s). Adjust or add markets via your comparison set to focus on specific regions.

• Map Legend: Banking Desert Classifications
  • Banking Deserts (Yellow) Census tracts with no physical bank or credit union branch located within the defined distance of the tract or its population center, as defined by FedCommunities.
  • Potential Banking Deserts (Dark Grey) Census tracts that would become banking deserts if a single bank or credit union branch within the defined distance were to close.
    • Branch Distance Thresholds (FedCommunities Definition)
    • Urban communities: within 2 miles
    • Suburban communities: within 5 miles
    • Rural communities: within 10 miles
  • Light Grey Two or more bank or credit union branches within the defined distance
  • White No data available
• Branch Pins: The map displays branches with the following pin colors:
  • Navy pins: Your primary's branches
  • Colored Spotlight Pins: Three additional institutions from your comparison set, each shown with a unique pin color: teal, green, or gold. They will be outlined in their corresponding color within your comparison set.
  • Light grey pins: All other credit union branches in your market
  • Red pins: Bank branches in your market.

• Branch & Tract Snapshots: Hover over a branch pin or census tract to see key data points.
• Triangle CU ATM Pins: These represent freestanding credit union ATMs, while in-branch ATMs will appear in the “Branch Snapshot.” ATM data is specific to credit unions.
• Download: Use the button in the top right of the map to see your download options.

Also on the dashboard, explore census insights connected to your selected market, broken down into tables focusing on summarizing bank data, credit union data, and market data for your selected comparisons.