Hello calikid79-ga,
According to the American Bankers Association (ABA)
http://www.aba.com/Consumer+Connection/CNC_faqs.htm
“The average personal savings account balance was $3,466 at the end of
2000.”
The source of this data is the ABA Retail Banking Survey, Tenth
Edition.
The Eleventh Edition of the ABA Retail Banking Survey is currently
available.
http://www.aba.com/Surveys+and+Statistics/ss_retail.htm
This report can be purchased for $800 ($400 for ABA members).
The Tenth Edition can be purchased at Numbersource.Enumerate.com
http://numbersource.enumerate.com/viewPublication.do?publicationID=111
The price for the full report is $800. However, they also sell the
individual tables for $100.
The table that I believe has the data that you are interested in is:
Number and Dollar Balances of Individual Transaction Accounts per Bank
(by type of account)
http://numbersource.enumerate.com/viewAsset.do?assetID=2170
However, I recommend that you contact the ABA to confirm that this is
the correct table.
The ABA contact information can be found at
http://www.aba.com/about+aba/abainfo.htm
Numbersource.Enumerate.com also lists the Eleventh Edition.
http://numbersource.enumerate.com/viewPublication.do?publicationID=633
However, it doesn’t appear to be available for purchase (no prices are
listed). You may want to contact them to see if it is available.
Their contact information can be found here:
http://numbersource.enumerate.com/contact.jsp
=============================
The Federal Reserve Board (FRB) also published banking industry
statistics. The Federal Reserve Board 2001 Survey of Consumer Finances
can be downloaded for free at:
Recent Changes in U.S. Family Finances: Evidence from the 1998 and
2001 Survey of Consumer Finances
http://www.federalreserve.gov/pubs/oss/oss2/2001/scf2001home.html#summary
http://www.federalreserve.gov/pubs/oss/oss2/2001/bull0103.pdf
According to this report, table 5.B (page 13), the 2001 Median value
of transaction accounts was $4,000.
“A transaction account is defined as a category comprising checking,
savings, and money market deposit accounts, money market mutual funds,
and call accounts at brokerages.” (Page 9)
=============================
The US Census Bureau also published this type of data. The most recent
data that I was able to find at the Census Bureau website was for
1995.
Asset Ownership of Households: 1995
http://www.census.gov/hhes/www/wealth/1995/wlth95-1.html
Based on this data, the Median Value of regular checking accounts was
$500.
=============================
If you look at the data we have now (although from different years and
sources), it is consistent. If you assume that the FRB data on
transaction accounts is primarily checking and savings accounts:
Average savings value - 3,500 (approx., ABA 2000)
Median checking value - $500 (Census Bureau 1995)
Total - $4,000 (FRB 2002)
=============================
I hope you have found this information helpful. If you have any
questions, please request clarification prior to rating the answer.
Googlenut
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