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THIRD OF VALLEY RESIDENTS DO BANKING WITH PAYDAY LENDERS IN BUSINESS THE ECONOMY By Eli Segall staff writer P ayday lenders and pawnshops may not seem like the best places to do your banking, but a rising number of Las Vegans are relying on them for person- al finances. A third of valley households were "underbanked" last year, up from 20 percent in 2009, according to a new sur- vey from the Federal Deposit Insurance Corp., a banking regulatory agency. The FDIC defines "underbanked" as people with checking or savings accounts who also used non-bank money orders, day loans, pawnshops or other services.T:9.5" up from 21 percent check-cashing stores, remittances, pay- Such alternative lending options typi- cally carry high interest rates and are used by people who need cash quickly but can't obtain money from traditional lenders such as banks or credit unions. More than 31 percent of households statewide were underbanked last year, in 2009. About 58 percent were fully banked, down from 70 percent, while 8 percent were unbanked, up from 7 percent. Nationally, 20 percent of households were underbanked in 2011, up from 18 percent 69 percent were fully banked last year, down from 71 percent in 2009. two years earlier. Almost My business could always use some extra money Get a $100 Reward when you open a new Merchant Services Account You work hard to keep your business running, so we'd like to offer you a double reward. Take advantage of our Double Promotional Offer and receive $100 when you open a Merchant Services account with Wells Fargo. With a Merchant Services account you get reliable payment processing along with superior 24/7 customer support, plus the tools you need to help broaden your customer base, increase sales, and boost your cash flow. Call 1-800-35-WELLS, click wellsfargo.com/biz/merchant, or stop by to start a conversation with a Wells Fargo banker today to learn more. Offer valid from July 1, 2012, through September 30, 2012. Wells Fargo Merchant Services (WFMS) will give qualifying customers a $100 direct deposit. To qualify, customers must (1) open a new WFMS account, (2) direct deposit their WFMS funds into a Wells Fargo deposit account, (3) activate their WFMS account by processing at least $50 in Visa®, MasterCard®, or Discover® transactions within 30 days of account open date, and (4) submit the required offer fulfillment form within 30 days of WFMS account approval date. The $100 direct deposit will be made to the customer's Wells Fargo deposit account within 60 days after the customer has submitted the required online offer fulfillment form and met offer qualifications. Double offer of $100 is based on doubling the $50 Visa® Gift Card offered by WFMS from July 1, 2012, through September 30, 2012. Limited to one $100 deposit per Tax ID. The WFMS account and Wells Fargo deposit account must be open, active, and in good standing at the time of the $100 deposit. Not valid with any other WFMS offer or Payment Suite. Offer subject to change at any time. © 2012 Wells Fargo Bank, N.A. All rights reserved. Member FDIC. | 24 SEPTEMBER 2012 | Client: WELLS FARGO Job No.: WFL-CM-P12-202 Document: C-WFL-202 common 9.5x9.25_4C.indd Live: 9" x 8.75" Date: 9-12-2012 2:34 PM DDB Office: Los Angeles Notes:C-Common Size 9.5x9.25 Round: FM 7 T:9.25"