Indicator PI.7.c Proportion of population within 1/2 mile from bank or credit union

PI.7.c Proportion of population within 1/2 mile from bank or credit union

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Data Source

Location of banks and credit unions from Dun & Bradstreet, 2007.

Applied Geographic Solutions, Inc. Spring 2007 Update: Current Year Estimates. Methodology available at: http://www.appliedgeographic.com/library.html.

Map and table created by San Francisco Department of Public Health, Environmental Health Section using ArcGIS software.

Table data is presented by planning neighborhood. While planning neighborhoods are larger geographic areas than census tracts, census tracts do not always lie completely within a planning neighborhood. SFDPH used ArcGIS software and a 'centroids within' methodology to convert census blocks to geographic mean center points. We then assigned census blocks to planning neighborhoods based on the spatial location of those geographic mean center points and calculated the planning neighborhood totals for the table. Detailed information regarding geographic units of analysis, their definitions, and their boundaries can be found in the HDMT at the following links:

http://www.thehdmt.org/etc/Geographic_Units_of_Analysis.pdf

http://www.thehdmt.org/data_map_methods.php .

Explanation and Limitations

There are approximately 270 banks and credits unions in San Francisco, with the majority located in the Financial District. Some credit unions and banks are certified as Community Development Financial Institutions (CDFIs) by the federal or state government, which means that their primary mission is to promote community development in underserved areas.a For more information, visit the U.S. Treasury's CDFI Fund website at http://www.cdfifund.gov/.

Studies show the lack of physical proximity to financial services is most frequent in low-income and minority populations compared to wealthier households. In addition, fringe financial services, such as check cashers, payday lenders, and pawn shops, are largely in low-income and minority neighborhoods. These lenders have high fees attached to their service and no savings account options, which puts an additional financial burden on these populations.b

The San Francisco Planning Code Section 249.35 Fridge Financial Service Restricted Use District states “There are an unusually large number of establishments providing fringe financial services, including check cashing and payday lending, in the neighborhoods included in the Mission Alcoholic Beverage Special Use District, the North of Market Residential Special Use District, the Divisadero Street Alcohol Restricted Use District, the Third Street Alcohol Restricted Use District, the Haight Street Alcohol Restricted Use Subdistrict and the proposed Excelsior Alcohol Restricted Use District. The unchecked proliferation of these businesses has the potential to displace other financial service providers, including charter banks, which offer a much broader range of financial services, as well as other desired commercial development in the City, which provides a broad range of neighborhood commercial goods and services.” In order to preserve the residential character and the neighborhood-serving commercial uses these areas, a noncontiguous Fringe Financial Service Restricted Use District is established for certain properties (See Section 249.35 for full list). In addition, no new fringe financial services are permitted in these districts.

Why is this a Community Health Indicator?

Being within walking distance of neighborhood goods and services, such as banks and credit unions, promotes physical activity, reduces vehicle trips and miles traveled, and increases neighborhood cohesion and safety.c By reducing vehicle trips and miles traveled, dense neighborhoods with diverse and mixed land uses can also reduce air and noise pollution, which subsequently impacts associated respiratory and noise-related health conditions. According to the US Green Building Council, research has shown that "living in a mixed-use environment within walking distance of shops and services results in increased walking and biking, which improve human cardiovascular and respiratory health and reduce the risk of hypertension and obesity."d

  1. Mendez, Fred. 1997. Community Development Financial Institutions: a primer. Community Investments 9(2). Available at: http://www.frbsf.org/publications/community/investments/cra97-2/primer.html Retrieved 7/17/2008.

  2. James H. Carr and Jenny Schuetz. Financial Services in Distressed Communities: Framing the Issue, Finding Solutions. 2001. Fannie Mae Foundation. Available at: http://www.cra-nc.org/financial.pdf

  3. Moore Iacofano Gostsman, Inc. Richmond general plan update, issues & opportunities, paper #8: community health and wellness (draft). 2007. Available at: http://www.cityofrichmondgeneralplan.org/docManager/1000000640/Existing%20Condictions%20Report%20August%202007.pdf
  4. US Green Building Council. LEED rating systems, neighborhood development. Available at: http://www.usgbc.org/DisplayPage.aspx?CMSPageID=148