A new bank for kids!

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At the new Young Americans Bank in Green Valley Ranch, I talked to Richard E. Martinez, Jr. the president and CEO. CEO stands for Chief Executive Officer.

At the new Young Americans Bank in Green Valley Ranch, I talked to Richard E. Martinez, Jr. the president and CEO. CEO stands for Chief Executive Officer.

The Young Americans Bank is a bank for children. They teach children how to be entrepreneurs, or people who start a business. The reason this bank is for children was because Bill Daniels, the founder of the Young Americans Bank, wanted children to learn how to run businesses, use a checkbook, balance a checkbook, and keep track of money, and especially because of his love of educating children.

Children can get a bank account at birth to save money for when their older. To open an account they must have a Social Security number and five dollars to start the account. Around age three, children can learn how to use their account to deposit and withdraw money. By 22, children aren’t really children any more so they have to get adult accounts.

Young Americans Bank also helps children to become entrepreneurs, and start their own business while they are still children. And if a child wants to start a business to earn money and give the money away to a charity they will help you find the perfect charity to give it to. Martinez said, “Make sure they believe in what you believe in.”

Young Americans is a center for financial education; Young Americans Bank is a part of the center. Another part of the center is Young AmeriTowne.

Young AmeriTowne is a hands-on lesson on how to run a town. It’s a life-like town for children to learn how apply and interview for jobs. There is also Rural AmeriTowne; it is the same thing except it teaches how to run business, specific to a small town. Another program is International Towne, it teaches middle school children to prepare for financial global markets, including a foreign currency exchange, which is exchanging money between different countries.

Young Americans Bank is in my opinion is really fun, and really educational. To contact Young Americans Bank go to http://www.yacenter.org/young-americans-bank, to contact Young AmeriTowne go to www.yacenter.org.