There are plenty of credit unions that offer financial programs for children, but the $1 billion Meriwest Credit Union in San Jose, Calif., found a way to literally have kids rolling in the dough.
This summer Dan Goldin, business banking officer at the 70,000-member credit union, brought the idea of the Fun Time Cookie Company to youngsters who participate in the Richmond, Calif. Police Activities League. Goldin said the kids gobbled up the idea of starting their own cookie company.
About 15 kids between the ages of seven and 16 participated in the activity and were divided into two groups: bankers and business owners. The bank accepted $50 in deposits from parents and counselors. Then, the cookie company applied for a $50 loan to purchase the materials to bake cookies. The loan funded July 10 and the bakery was officially in business.
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