Cable magnate Bill Daniels

Bill Daniels

Robert W. "Bill" Daniels was a pioneer in the cable television industry, commonly known as the "Father of Cable Television". He was an owner of the Los Angeles Lakers and a founder of the United States Football League ....

 created the Young Americans Bank in 1987 after a group of elementary students in Denver, Colorado

Denver, Colorado

The City and County of Denver is the capital and the most populous city of the U.S. state of Colorado. Denver is a consolidated city-county, located in the South Platte River Valley on the western edge of the High Plains just east of the Front Range of the Rocky Mountains...

 were denied a loan from other banks for a school project
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 aHead for Business, summer camps, and Young Americans Bank, a for-profit, Federal Deposit Insurance Corporation

Federal Deposit Insurance Corporation

The Federal Deposit Insurance Corporation is a United States government corporation created by the Glass–Steagall Act of 1933. It provides deposit insurance, which guarantees the safety of deposits in member banks, currently up to $250,000 per depositor per bank. , the FDIC insures deposits at...

-insured financial institution. The Bank has the distinction of being the world's sole financial institution designed specifically for people under the age of 22. As a full service bank, YAB offers, among other financial products, savings accounts, checking accounts, certificates of deposit (CDs), and credit card accounts . Emphasizing financial education for children, the Center's Youth Advisory Board regularly meets to discuss its operations, including the Bank and programs.