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New Mexico ranks third on the top 10 worst states for banking access
New Mexico ranks third on the list of top 10 worst states for banking access, according to a study conducted by Forbes Advisor, a financial news and advice site.
To compile the list, Forbes Advisor compared data from all 50 state and the District of Columbia, the data included information on banks and credit unions per capita, predatory lenders per capita, percentage of unbanked residents, change in the percentage of unbanked residents and precentage of residents without access to internet, which correlates to no access to online banking, the website stated.
New Mexico scored only 2.67 out of the possible 100 points as the study showed 7% of New Mexico households were unbanked in 2021.
At 13.2%, New Mexico ranked fourth-highest for households without internet access, and the state ranked 11th lowest for the number of banks and credit unions per 100,000 residents.
South Carolina ranked in first place on the list, the study showed it has the seventh-highest number of predatory lending establishments per capita and was 20th-lowest for number of banks and credit unions per capita.
| 10 worst states for banking access State | Score out of 100 | |
| South Carolina | 0 | |
| Nevada | 1.07 | |
| New Mexico | 2.67 | |
| Louisiana | 6.76 | |
| Texas | 7.83 | |
| New York | 9.07 | |
| Mississippi | 11.39 | |
| Arizona | 17.26 | |
| Missouri | 18.15 | |
| Tennessee | 20.28 |
