Bank for Kids Opens in Lakewood
By: Young Americans Bank
Young Americans Bank was the vision of late cable pioneer and philanthropist Bill Daniels. After he read an article about a group of teenagers who were denied a loan at a traditional bank, Mr. Daniels committed to establishing a bank just for youth. Young Americans Bank, a real FDIC-insured and state-chartered bank, opened in 1987 and now boasts more than 18,000 accounts a year.
The newest branch of Young Americans Bank is located at 401 South Pierce Street in the same building that houses Young AmeriTowne. Community support, including Daniels Fund, made the opening possible.
Rich Martinez, President and CEO of Young Americans, and Linda Childears, President and CEO of Daniels Fund, spoke at a preview event held last month. "When Young AmeriTowne at Belmar first opened in 2004, we had planned to someday add a branch of Young Americans Bank. Well, that 'someday' is today," noted Rich. "Today is such an exciting day for Young Americans."
About Young Americans
Young Americans Center for Financial Education is a nonprofit organization committed to developing the financial literacy of young people, up to age 22, through real life experiences and hands-on programs.
The Center fulfills its mission by offering programs that complement and reinforce each other to build life skills, work skills and financial self-sufficiency. These include Young AmeriTowne, International Towne, YouthBiz, free Money Matters classes, summer camps and more. In addition, Young Americans Center houses the only real bank in the world for young people, Young Americans Bank, which shares the same educational mission of teaching children to be financially responsible. Since 1987, more than 700,000 youth have participated in the programs or bank. For more information on the Young Americans Center for Financial Education, visit https://yacenter.org.
Janet Redwine, Communications Director