The Federal Reserve Bank of New York today launched Community Credit, an interactive portal allowing users to learn more about credit conditions at the national, state and county levels. The website spotlights “credit inclusion” — including shares of individuals with a credit history, total available credit and credit quality — as well as “credit stress,” a measure of how well individuals are doing at repaying debt.
“Overall, the maps show Americans are paying their bills on time in increasing numbers,” the New York Fed said. “The proportion of U.S. residents who are current on all credit obligations for four consecutive quarters bottomed out at 75.8 percent in 2008, but has shown six straight years of improvement in most areas.”
Subprime borrowers represent a shrinking share of the credit economy, the maps show. Inclusion rates — the share of adults with a credit file and credit score — ranged from 87 percent in Alaska to 99 percent in New Hampshire. At the county level, on-time payment rates ranged from 48 percent in McKinley County in western New Mexico to 93 percent in Sioux County in northwestern Iowa.