Today, about 14 percent of the total US population lives in a rural or nonmetropolitan area. Despite an overall downward trend in the rural poverty rate in recent years, many rural communities continue to face notable challenges and structural barriers to accessing financial services and products. However, rural communities are also underappreciated for their diversity, cultural vitality, and economic innovation and resiliency. Leveraging the Urban Institute’s previous research cataloging rural capital and assets, this brief examines the state of financial well-being in rural communities through a typology lens that acknowledges and highlight unique rural contexts and strengths. Based on findings from our data analysis, we also explore examples of local strategies to promote financial inclusion and accessibility. Our findings suggest three guiding principles for financial service providers seeking to expand rural financial inclusion and well-being:

• Offer products and services tailored to the needs of the community. This may include understanding community preferences around types of financial products and forms of service, as well as acknowledging the unique cultural contexts that shape these preferences.
• Build community trust through partnerships and local hiring. To ensure long-term impact, financial service providers should invest in building community trust by working with local organizations and local staff that have expertise and existing relationships within the community.
• Leverage existing local and national assets to promote investment. Addressing rural financial challenges requires aligning traditional business activities with philanthropic efforts that recognize existing local and national resources.