Focus on New York
In the third in our series of posts detailing numbers of cardholders by state and region, we’re looking at New York. Focusing on demographics allows us to identify geographical differences and similarities of interest to those reviewing Direct Express® from a geographic perspective and can provide useful insights about program reach and distribution.
According to US Census reports, New York is the fourth most populous state, after California, Florida, and Texas, with an estimated population of just under 20 million in 7.8 million households. The median age in NY is 40.1, just higher than the figure for the United States (39.2).
New York has the fourth largest number of active cardholders of any state, with about 227,000 getting federal benefits in this way (Direct Express® Internal Information). It is part of the Northeast Region for Direct Express®, along with 8 other states. This region is home to 17 percent of Direct Express® cardholders with atypical mix of Social Security (SSA) and Supplemental Security Income (SSI) recipients, representative payees, and DX℠ Mobile App users (see graphic).
Fig 1: Direct Express® Northeast Region
According to the latest information provided by the FDIC (see footnote), New York’s rate of unbanked and is 5.1 percent. This is roughly equivalent to the national norm of 5 percent
unbanked. Interestingly, the New York City Department of Consumer and Worker Protection, puts unbanked figure for New York City at 7 percent. 68 percent of Direct Express® cardholders nationwide are unbanked (Cardholder Survey).
Direct Express® is available for beneficiaries of eight federal government agencies and 25 programs (See A Growing Program), though a majority (more than 60 percent) of Direct Express® cardholders get SSI through their cards. The SSA is reporting that, as of 2024, 559,604 individuals in New York get SSI with a monthly total disbursement of $401,953,000 (SSI Recipients by State and County).
We will continue to focus on individual states and regions in the Direct Express® Demographics series. Look out for the next one!
SOURCE: Direct Express®
