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The Payroll Card Market

There are millions of people in the United States who can benefit from the ReadyFUND$® Payroll Card and eZsuite®of Employee Benefits. At least 25.6 percent of U.S. households, close to 30 million, are either unbanked or underbanked. Approximately 60 million adults reside in these households.**

Unbanked Consumers: Consumers having no current checking account and no current savings account.* The proportion of U.S. households that are unbanked varies considerably among different racial and ethnic groups and even geographically, with certain groups more likely to be unbanked than the population as a whole.**

Underbanked Consumers: Consumers that may have current checking account and/or current savings account, however, the account holder initiated one or more non-bank financial transactions in the past 30 days.* These households have a checking or savings account but rely on alternative financial services. Specifically, underbanked households have used non-bank money orders, non-bank check-cashing services, payday loans, rent-to-own agreements, or pawn shops at least once or twice a year. Certain groups are more likely to be underbanked than the population as a whole. **

*Source: The CFSI Underbanked Consumer Study Underbanked Consumer Overview & Market Segments Fact Sheet, Released: June 8, 2008

**Source: FDIC National Survey of Unbanked and Underbanked Households, Released December 2009

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