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 Black Stats  
Frequently requested data on African American consumers

Black Buying Power:
 $836 Billion (2010)

Black U.S. Population:
 41.1 million

Top Five Black Cities
 - New York
 - Chicago
 - Detroit
 - Philadelphia
 - Houston

Top Five Black Metros:
 - New York-New Jersey
 - Washington-Baltimore
 - Chicago-Gary
 - Los Angeles
 - Philadelphia

Top Five Expenditures:
 - Housing $203.8 bil.
 - Food $65.2 bil.
 - Cars/Trucks $29.1 bil.
 - Clothing $29.3 bil.
 - Health Care $23.6 bil.
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U.S. Census 
Bureau Data

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Tom Joyner partners with PreCash, Bancorp Bank to offer the REACH Card

(January 6, 2011) Of the estimated 43 million Americans who are either unbanked or underbanked, a disproportionate number are African American, according to the FDIC's 2009 survey. Recognizing this issue, nationally syndicated radio host Tom Joyner is partnering with PreCash to present the REACH Visa Prepaid Card, issued by The Bancorp Bank, to empower more African Americans and others to manage finances through an alternative option to traditional banking by offering a simply priced prepaid debit card.

"In today's economy where every dollar counts, Americans are looking for a way to manage their money, pay bills and they need a financial stepping stone that doesn't have lots of surprising and confusing fees," said Tom Joyner, host of the nationally syndicated The Tom Joyner Morning Show, which reaches an audience of more than eight million in over 100 markets. "I think The REACH Card can empower people to take control of their finances with a fairly priced prepaid card."

The card is issued by The Bancorp Bank; member FDIC, and cardholders' deposits are FDIC insured up to $250,000. Further, all fees are disclosed prior to purchase and there are no hidden fees. Consumers can purchase The REACH Card online by visiting www.thereachcard.com.

"PreCash is excited to work with Tom Joyner to provide people without access to traditional  financial services the freedom of plastic with a simply priced, easy to understand  prepaid debit card," remarked Mia Mends, General Manager of Prepaid Debit for PreCash. "In this increasingly card-based economy, it is critical that unbanked individuals have access to affordable electronic payment options so they are not forced to use high cost, fringe products," added Mends.

The hope is The REACH Card will empower more African Americans, looking for modern solutions to help manage their finances, to use this card as a stepping stone to take control of their money and bring greater financial stability to their lives. The REACH Card is also a good tool for parents to teach teens and college students money management skills at an early age because they can only spend the money that's on the card. As with all prepaid cards, once the funds on the card are spent, more can be added for additional usage.

Marketing plans for the REACH Card are focused on media properties connected with Tom Joyner. Spots are airing on the Tom Joyner Morning Show, and appear on his Web site, BlackAmericaWeb.com. The creative is being handled in-house by PreCash.

Whether it's providing financial assistance to historically black colleges and universities, and the students who attend those institutions, through the Tom Joyner Foundation or working to promote voter registration, Tom Joyner has helped to empower African Americans in all facets of their lives.


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 JUST RELEASED
New "Buying Power" report: Black consumers spend as economy grows
Details $507 billion in expenditures

(November 1, 2010) African-American consumers are cautiously increasing their spending in some key product categories, even as they continue to make adjustments in a slowly growing economy. The finding comes from the soon to be issued 16th annual edition of "The Buying Power of Black America" report.

In 2009, black households spent an estimated $507 billion in 27 product and services categories. That"s an increase of 16.6% over the $435 billion spent in 2008. African-Americans" total earned income for 2009 is estimated at $836 billion...

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