The state of banking across the nation has been on our minds at the Econ Quiz office over the past few weeks. Specifically, we are wondering if the rocky road faced by some of the nation’s large banks will affect banks in our rural communities.

In a June 2020 quiz we reported that the Federal Reserve Board of Governors asked about bank use in its 2016 Survey of Consumer Finances. Although rural and metropolitan bank users reported similar frequencies for activities such as visiting a bank branch in person (rural=78%, urban=79%), using direct deposit (rural=83%, urban=85%) or using automatic payments (rural=63%, urban=66%), there are some significant differences in banking habits that may be related to access to banking institutions.

Rural residents were more likely to be unbanked, with 9.2% of rural respondents to the 2016 Survey of Consumer Finances reporting that they do not have a checking or savings account as compared to 5.7% of urban respondents reporting the same. Among other challenges, 50% of rural respondents reported that their nearest bank branch was at least 10 miles away, and an overall 25% of rural respondents reported that their closest bank branch was at least 50 miles away. These consumers would be considered as living in banking deserts.

That brings us to today’s quiz question. In 2014, the Federal Reserve identified 1,132 banking deserts, which it defined as census tracts in which there are no bank branches within a ten-mile radius of the center of the tract. Nearly two-thirds, or 734, of bank deserts were located in rural areas.  How many banking deserts were identified in Wisconsin?

A. 6
B. 22
C. 8
D. 1
E. 15

This webinar will highlight several rural workforce challenges and the role that university extension can play in addressing these challenges. It will also introduce the Future Opportunities for Rural Workforce and Rural Development (FORWARD) curriculum designed by the North Central Regional Center for Rural Development (NCRCRD) at Purdue University and the Association of Public and Land Grant Universities (APLU)—and intended to support extension professionals in their efforts address some of these rural workforce challenges. The webinar will give particular focus into how labor market information (LMI) and other types of socio-economic data can be more effectively woven into rural workforce planning efforts.

In this webinar, you will learn the following:

Get a jumpstart on your June 19th County/Tribal BEAD Planning Grant deliverables with this interactive workshop. You’ll leave with tips, processes, and actionable steps you can take to move your community’s broadband efforts forward.

Downtowns and business districts play a vital role in economic development by serving as the commercial heart of our communities. They generate revenue and employment opportunities and enhance the overall quality of life for residents, workers, and visitors alike. The diversity of downtowns provides a wealth of challenges and opportunities, requiring tailored development goals and approaches to maximize their unique attributes and assets. This webinar answers a handful of essential questions: What is downtown revitalization, and why does it matter? Why is it important to quantitatively evaluate revitalization efforts (such as the Main Street Program)? What are some of the challenges involved with the evaluation of downtown revitalization?

Using the latest research and data specific to Wisconsin’s rural communities and regions, this summit focuses on the Wisconsin rural economy. The summit includes an overview of the latest economic and demographic trends across rural communities, an examination of entrepreneurship, and a discussion of what rural communities can do to foster economic growth and development.

This webinar series on clean energy funding is designed to ready each sector in Wisconsin to take advantage of the opportunities that are or will be available so that you can prepare effectively to bring that money to your projects. You will learn about:

(The Journal Times - 4/15/2023)

State’s Businesses Hesitant to Lay Off Workers

(UrbanMilwaukee.com - 4/11/2023)

(WTMJ-TV - 3/22/2023)

(Wisconsin Public Radio - 3/22/2023)

(Wisconsin Public Radio - 3/6/2023)

(St. Louis Public Radio - 3/1/2023)