A bank dedicated to teaching children about money.
It's called Young Americans Bank.
I think I'm going to have to take Chase down and open an account for her.
And then pay her a penny (I knew pennies were handy for something) for her art work, or for helping out around the house (today she cleared her table after her meal).
Following are the bank's customer statistics:
Number of Total Accounts: 14,762
Number of Depositors Reached Since Inception: 54,417
Customers in all 50 states and 9 foreign countries
Savings
Number of accounts: 12,363
Average balance: $800
Average age: 11
Most common reason for saving:
College, Vacations, iPod, X-Box
Certificates of Deposit
Number of accounts: 969
Average balance: $1,388
Average age: 12
Most common reason for saving:
College, Car
Checking
Number of accounts: 1,430
Average balance: $510
Average age: 16
Average check written: $35
Most common reason for having a
checking account: Experience
Accounts used most often for:
Entertainment, Shopping, School Fees
Loans
Number of Loans: 27
Average Balance: $2,394
Average age: 17
Most common reason for borrowing:
Car, Auto Repairs, College Textbooks
Credit Cards
Number of Credit Cards: 248
Average Balance: $143
Most common reason for having a
credit card: Experience
