Pub. 2 2012-2013 Issue 1

20 O V E R A C E N T U R Y : B U I L D I N G B E T T E R B A N K S - H E L P I N G C O L O R A D A N S R E A L I Z E D R E A M S class that was turned down for a bank loan for their entrepreneurial venture. He recognized that very few people understand how to access the free en- terprise system he so cherished, so he began to plan for a kids bank to cater directly to young people and engage them in America’s economy. When he presented his idea in 1986 to the Colorado Division of Banking, Mr. Daniels included these comments: “The reason we teach the three Rs in school, reading, writing and arithmetic, is to give youth the tools to work with when they grow up in life. Arithmetic is no good whatsoever without a credit rating and integrity.” As one can imagine, a bank just for kids faced some regulatory challenges. There were many instances where Young Americans Bank received legis- lation exceptions. One example is the Community Reinvestment Act, in which banks are measured in how they serve the credit needs of their community. Mr. Daniels sought an exempt from the regulation because he believed that Young Americans Bank should engage kids during every transaction and was already heavily invested in the educa- tion of the community. When his first charter application was denied, Mr. Daniels increased his financial involve- ment and Young Americans Bank was fi- nally approved, opening 2,000 accounts in the first three weeks of August 1987. There were skeptics at first. Mem- bers of the community thought it was a nice idea that had no chance of suc- cess. Others looked at Bill Daniels, a self-made wealthy man, and wondered what benefits he received from open- ing a bank for kids. After just a short time, however, the critics were silenced as they recognized that Mr. Daniels started this wildly successful bank for no other reason than he saw it as his duty to provide young people a way to learn about and prosper in the free enterprise system. After 25 years, Young Americans Bank has served more than 70,000 cus- tomers, and many of the current ones are second generation. There are just over 16,000 current account holders who ac- tively make deposits, write checks, swipe their credit cards and take out loans. Twenty-five years brings exciting news and a big celebration. Young Americans Bank is set to open its first bank branch on the Denver Public Schools Evie Dennis Campus in Green Valley Ranch. The space, which will open in January 2013, will serve 3,000 students on campus and hundreds more in the surrounding communities. Young Americans Bank will also host a birthday carnival on Saturday, August 4. The entire event, which is free and open to the public, will focus around money and finances. Many of the games, food and activities will be provided by current young entrepreneurs. The community will have the opportunity to share sto- ries, open accounts, win prizes and cel- ebrate 25 extraordinary years of a bank serving young people.  For more information, visit www.yacenter.org O WN THE REAL ESTATE YOUR BUSINESS ALREADY PAYS FOR CEDCO S MALL B USINESS F INANCE C ORPORATION Colorado's SBA 504 Loan Expert™ 1175 O SAGE S TREET , S UITE 110 D ENVER CO 80204 ÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊÊ Office Locations — Denver, Grand Junction, Colorado Springs 1 - 8 0 0 - 8 4 3 - 8 8 5 2 www.cedco.org • More stability for your operation • A stronger balance sheet • An asset to sell when you’re ready A S A LEADING SBA 504 LENDER WE MAKE IT EASY FOR YOU • Buy, Build, Remodel or Expand Real Estate • Purchase and install long-lasting equipment • Fast, expert processing - with low loan costs • Refinance LÕÃiÃÃ real estate ÀÊiµÕ«iÌ • 7iÊi`ÊÕ«ÊÌÊfxÊ\ÊLÀÀÜÊÕ«ÊÌÊfÓäÊÊ Üi VLi`ÊÜÌÊL>Êv>V} • Interest rate as low as 5.25%, fixed for 20 years • Down payments range from 10% to 20% • Most Small Businesses are Eligible S TREAMLINED P ROCESSING • Front Range and mid-mountains call Sean or Mary Jane 303-893-8989 • Western Colorado call Pat 970-243-1861 CEDCO Small Business Finance Corporation Your Best Source for SBA Real Estate Loans New Easier Qualification Uninterrupted access to money through a monthly SBA-backed bond auction Low fixed-rate financing Low down payments O WNERSHIP M EANS  25TH ANNIVERSARY – continued