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How many financial institutions are in the U.S.? | Plaid

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It might seem like a simple thing to establish how many financial institutions are in the United States. After all, this is pretty important when you’re establishing coverage for as many consumers as possible. But over the past several years building Plaid, we’ve learned that this is actually a bit trickier in practice — mostly because M&A activity and institution failures have changed the landscape dramatically in the past several decades, especially post-recession, and because financial infrastructure is itself changing all the time, which sometimes makes it seem like there are more integrations than institutions. According to the most recent data from the FDIC and NCUA, though—which we think is the most reliable information—there were 5,801 FDIC-insured institutions and another 5,733 NCUA-insured credit unions nationwide. That’s 11,652 total. Yet it’s not uncommon to hear that there are nearly 18,000 financial institutions in the United States. So, how’d we get here? To map the hist

SHARE July 20, 2017 How many financial institutions are in the U.S.? Baker Shogry Updated on April 26, 2018 It might seem like a simple thing to establish how many financial institutions are in the United States. After all, this is pretty important when you’re establishing coverage for as many consumers as possible. But over the past several years building Plaid, we’ve learned that this is actually a bit trickier in practice — mostly because M&A activity and institution failures have changed the landscape dramatically in the past several decades, especially post-recession, and because financia

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