The Young Americans Bank (YAB) is an American bank specifically set up for young people under the age of 22.[1] Although designed to teach children and young people how to manage money, Young Americans Bank is a full for-profit, Federal Deposit Insurance Corporation-insured financial institution.[2] As a full service bank, YAB offers, among other financial products, savings accounts, loans, checking accounts, certificates of deposit (CDs), and credit card accounts.[3]
 | |
| Company type | Private company |
|---|---|
| Industry | Financial services, Education |
| Founded | 1987 in Denver, Colorado |
| Headquarters | , |
Key people | Rich Martinez, President and CEO, Bill Daniels, Founder |
| Services | Banking services, education |
Number of employees | 44 (2009) |
| Parent | Young Americans Center for Financial Education |
| Website | www |
History
editYoung Americans was set up in 1987 by Bill Daniels, an American cable television executive, after a group of elementary students in Denver, Colorado were denied a loan from other banks for a school project.[1]
Young Americans Bank is housed under Young Americans Center for Financial Education, a 501(c)3 non-profit that organizes programs such as Young AmeriTowne, International Towne, Get a Head for Business, and summer camps.[4][5]
References
edit- ^ a b "About Young Americans - History & Founder". Young Americans Bank. Retrieved July 3, 2024.
- ^ "Students get a taste of business ownership". The Denver Post. February 1, 2007.
- ^ "Products and services". Young Americans Bank. Retrieved July 3, 2024.
- ^ "Young Americans selects Aurora councilman as next CEO". Denver Business Journal. November 13, 2023.
- ^ "Some Kids Sell Lemonade. He Starts a Chain". New York Times. February 26, 2016.