-Production funding and educational outreach for Biz Kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at WXXI.org.

-Every day, America's credit unions help members with their financial needs and with programs like Invest in America.

It's only fitting that credit unions support Biz Kids because financial education is what we do.

Learn more at lovemycreditunion.org.

-Can you help me here with 36 across?

-I love crosswords.

Four-letter word, place people deposit money into checking and savings accounts.

-Let me see that.

Place people deposit money, four letters... -Hand it back for a second, would you?

-Okay.

-I think it ends in A-N-K. -So, like, dank, or tank maybe.

-Let me see that again.

-It shouldn't be this hard.

-I'll bet it's an obvious word.

-You can bank on that, Hank.

-Hey, that's it-- -Hank!

-Hank!

-Yeah, oh, no, that's not right.

♪ When making money is the aim ♪ ♪ These kids, they bring their game ♪ ♪ They're the Biz Kids ♪ ♪ Can you dig it?

♪ ♪ They know what's up ♪ ♪ And let you know just how to make that dough ♪ ♪ They're the Biz Kids ♪ ♪ Right on ♪ ♪ So learn a little more ♪ ♪ About bringing money through the door ♪ ♪ They're the Biz Kids ♪ ♪ Right on.

♪ -Brought to you by banks!

More than just places of interest.

-Um, what are you doing?

-Making a deposit in my bank.

-I think it's time for a bigger bank.

-I don't think they get any bigger than this.

-No, I mean a real bank.

-This is a real bank.

-No, that's a piggy bank.

I'm talking about the bank around the corner.

-Relax, you're both talking about the same thing.

A bank is a place to store your money, whether it's your piggy bank or the financial institution down the block.

-A retail bank is an officially chartered institution empowered to receive deposits, make loans and provide checking and savings account services, all at a profit.

-Well, there are advantages in switching from a piggy bank to a retail bank.

For instance, your money is safer.

-Safer from what?

-Shh.

-Ahh, would you look at that?

Theft for one.

-Very funny.

Where's my bank?

-Most banks are insured against theft, unlike your piggy bank.

And most retail banks will pay you to store your money there.

-Why would the bank give me money when they're doing me a favor?

-Well, while the bank is holding your money, they put it to use by lending it to other people.

-My money?!

-Your money and all the other money deposited there.

Then the borrowers pay back the loan and they also pay interest.

So, relax.

-I'll relax when you give me back my piggy bank.

-In return for letting them use your money, the bank pays you interest.

-Speaking of my money, give me back my pig!

(oinking) -Oops, my bad.

-I'm Nathan.

-I almost fell over.

And I'm Polina.

BOTH: And we dance it to the bank.

-Dancing is my favorite thing to do.

-When you dance you feel like you can express yourself.

-I know, we've been dancing together for, like, two and a half... -One and half, almost two-- -Almost two.

-No, two.

-Two years?

-I don't know, something like that.

-The last two years we won first place in the U.S. in our age group, in our level.

-We won a trophy.

BOTH: We got first place.

-And a hundred bucks.

-When we win money we split it 50-50.

-Making regular purchases?

-Open a checking account.

A checking account is for if you buy things frequently, so it's easier to take money out.

And it's also safer than, like, keeping all your money in your wallet because if, like, your wallet was stolen or you lost it, then you would lose all of your money.

I opened a checking account to keep my money safe, and so I can buy little things easily and quickly.

Stuff like earrings, necklaces, iPods.

-Okay, Polina, in about a week you'll get your very own ATM card, so you can access funds at the ATMs.

-Saving for the long term?

-Open a savings account.

-I have a savings account for all the money that I earn dancing.

And I'm saving up for trips to competitions, lessons, costumes.

I'm using a savings account instead of a checking account because we don't take money out of that account that often, and our money grows in it.

When my mom and I come to the bank, we fill out a deposit slip, and we put in my name, my account number and how much money we're depositing.

Then we take the deposit slip and the check to the teller.

-Thank you.

-And she puts it into my savings account.

I got money in the bank!

BOTH: Hey, Biz Kids.

Put your money in the bank!

-Hey, Cash Cow here.

I'm not a big fan of pigs.

Know what I mean?

I'd rather keep my moo-lah in a bank.

It's safe and it's insured against loss or theft by the FDIC.

The Federal Deposit, uh... -Nobody move!

This is a stick-up.

Give me all your money.

-All right, well, uh, we... we have, uh... $50 in the till here.

-Fifty dollars?

You quit fooling around, all right?

I read in the paper that this bank has over $2 million in assets.

So hand it over, bub.

-All right, now-- now you're thinking about this place all wrong, as if I have the money back there in the safe.

It's not here, it's invested in the community.

Like in Mr. Divinci's restaurant and Ms.

Flower's new home, and Mrs. Watson here, she... -Ah!

Mrs. Watson's got the dough, eh?

-I don't actually have the money.

I used it to add an addition to my house.

Oh, it's a lovely sunroom, with natural light.

-Wha... what kind of kooky bank is this?

Doesn't anybody have any money?

-All right, now-- now I've been trying to tell you that a bank's not just a big box you put your money in.

It's a place where you invest your dollar bills to make your money grow.

You come here, you make a deposit, and we pay you monthly interest so we can loan your money to other people.

-Uh, okay, okay.

So... anybody can just stroll on in here and borrow money?

-Well, n... yes, if they have proper credentials and, um, their credit score's good.

-All right.

Uh, my name is John Baker and I'd like to open an account.

-You can put me in the bank.

Which is like easier than ever.

In my day we didn't have credit unions, commercial banks and savings and loan.

I mean, people would stuff me in a mattress.

Not even like a nice... pillow-top, like old, icky mattresses.

-Banks are in business to make money.

Let's demonstrate.

Ah!

Perfect timing.

I will take that deposit.

-Wait, that's my money.

-Bear with me.

Now all we need is a borrower.

Let's pretend... Allana!

Would you like to borrow some money?

-Okay, I'd like to borrow $100 for a new hat.

-Wow, quite the hat.

Well, do you have good credit?

-Pretty solid.

-Okay, I'll take your word for it.

Um... here is $100, at ten percent interest, just to keep the math easy.

-Thanks!

-Absolutely.

Now, it's usually not that simple.

At first you have to establish credit, and the better your credit score the lower your interest rate, which means the less money you have to pay back in the end.

Now let's pretend a year has gone by.

-Nice hat.

-Thanks.

I've come to return the money I borrowed.

Here's $100, plus ten dollars interest.

-Thanks, great doing business with you.

Now you, the bank, has just made a profit.

-That's cool.

-Making a profit is cool, and starting your own bank account is a great first step to establishing your own credit.

-I got you a new bank.

-Nah, too girly.

(boy crying) -Well...

I like it.

Hey, wait, wait.

I want it!

-With the speed of electronic transfer, a phantom horse, a trail of cash, and a hearty "Hi-ho, Silver Dollar!"

comes the Loan Arranger.

-What seems to be the problem, noble citizen?

-It's my house, mister.

It's too dagburn small and there's no room for the younguns.

They're six to a bed, and baby Cleatus has to sleep in the wash tub.

If only we had the money to buy a bigger place.

-Have you considered taking out a... home loan?

-That's awfully nice, mister, but my family can't live in a mess of papers.

-You don't live-- mm-hmm-- you don't live in it, friend.

You write down your information right there, and if you qualify, the bank will loan you the money you need to pay for your home.

-By golly, that's even better.

Thanks, mister.

-Just doing my duty, friend.

Remember, if you ever need to take out a home loan or exchange currencies, I'll be there.

If you ever need to open up a savings account for college, I'll be there.

If you ever need to consult on a home mortgage or invest in a high-interest CD, I'll be there.

Or you can just use that bank down the street right there.

Hi-ho, Silver Dollar!

Away!

-Who was that masked man?

-I have no idea.

-Hi, I'm Katie.

-And I'm Susie.

BOTH: And we started Cityslips.

-Basically, the idea is to keep a pair of very comfy shoes with you at all times.

So, essentially the shoes fold in half, the heel tucks into the toe.

And they come stored in this small pouch.

So you can just keep this in your bag, and once you want to switch out of those killer high heels, you just pop on the shoes, and this opens up to a larger tote to throw your high heels inside.

So in retail, when you place an order overseas to a factory, you have to issue a payment to them, immediately.

-It's going to take them two or three months to make the shoe and deliver it to me, then I'm going to deliver it to my customer, and my customer isn't going to pay me for two months.

-Illinois, Florida... everywhere.

-I think it's going to get even more as the holidays get closer.

-Definitely.

-A line of credit is like a loan, except that you don't have to take all of the money right up front, like a standard loan.

Um, the easiest way to think about it, it's like a really... large credit card.

So you have the option to use as much of it as you want, but you don't necessarily have to.

-It's very important to establish an ongoing relationship with your banker.

And as well as the institution that you're taking out a loan from.

So we really believe in sticking with one institution if you can to hopefully grow, and so they can help finance all of your business needs.

-Banking doesn't have to be painful.

-Now how long has your business been around?

-We've been in business for about two years.

-What were you guys looking for today?

-So we are primarily looking to find a line of credit to finance incoming shoes from overseas.

-Our current interest rate is 4.6 percent.

-We're willing to offer you a rate of 4.5 on a line of credit loan.

-Definitely, we'll look through everything and we'll be in touch tomorrow.

-Terrific.

-Thank you so much for your help.

-Thank you, it was nice meeting you both.

-You too.

-I think that there's a few um, variables that you have to evaluate before making a decision.

Having a low interest rate is one of them.

How quickly you have to pay back the loan and the interest rate is very important.

And you really need to figure out what's best for your business.

-Take the right steps, do your research.

-Banks offer many different products and services.

-Savings.

-Checking.

-Loans.

-Credit cards.

-Currency conversion.

-Wire transfers.

-Investments.

-Online bill pay.

-Certificates of deposit.

-But most kids just need a place to deposit money and cash checks.

-A savings account is a great account for someone just starting out.

-A checking account is useful if you want to keep your money in a safe place.

-And then use your debit card or checks to make purchases or pay bills.

-And remember, think of your debit card just like cash.

-The money comes straight from your bank account.

-If you spend more money than you have in your account, the bank will charge you a fee for having insufficient funds.

-This is called an N.S.F.

fee, and it can be a pretty hefty charge, so you need to keep good records of what you deposit and spend.

-I didn't, and it cost me big time in fees.

-When you're looking for a banking institution, it's important to shop around and compare.

-Just like you would with any product you use.

-Not all financial institutions are equal.

-Each pays different interest on savings or checking.

-Each charge different fees.

-And some require you to keep a minimum balance in your account.

-I'm starting to like the idea of a bank.

-How about this one?

-Too small.

There's no room for my savings to grow.

-If you have questions, go in and talk to a teller or branch manager and tell them what you need.

They'll make suggestions.

-You're going to be using some kind of bank for the rest of your life, so you should establish a relationship now.

-It will be helpful later when you want to borrow money to buy, say... this hat.

-I'm not going to be buying that hat.

-How about a bike?

-Now, that I like.

-You don't like my hat?

-It's just not me.

Touchy.

-Hi, I'm Capitalist Peg.

Sooner or later you're probably going to need to have a relationship with a bank, like a business bank account.

-Hey, my little Peggy bank.

-Speaking of losing interest... Brian, what's up?

-I heard you talking about business bank accounts.

I thought I could manage your accounts.

What do you think?

-Brian, are you meshuggeneh?

-I get notices from my bank all the time.

-Here, check your account.

-What are all these fees?

Oh, meshuggeneh!

-Brian, if you can't manage your account, how are you going to manage mine?

-A business banking accot helps me keep my finances in order.

-Brains help too.

-The business is a haunted house.

It's called Night Terrors.

It's a seasonal event and we have 60 actors, different, uh, special effects, um, theatrical props.

We work here five months of the year to build a realistic environment and put cool effects in here, but without the actors it's just not scary.

We've had people faint, we've had people pass out.

People have lost control of their bodily functions.

(screaming, growling) A lot of people think haunted house, they think, you know, something in someone's garage but this is... it's a pretty elaborate setup.

It takes a lot of time, a lot of effort, and a lot of money.

(screaming) So after a long night of scaring people, the last thing we do is deposit our ticket sales at the night deposit box at the local bank.

Uh, the cash is always safe at the bank, and in order to get it there safely, I have to bring my posse along with me.

(laughing) An account banking manager will provide you with the best banking options for your business.

-And it'll keep your business off the operating table.

-Wrong bank.

-This sucks.

-One of the benefits of opening up a business account is an account manager.

-As you know, this is a bank and this is the safest place you can keep your money.

-They're kind of there to, uh, answer any questions you have.

Since I was new to, um, you know, the whole banking world, uh, being such a young age, it was great to have someone around to give me advice when I needed questions answered, and just kind of guide me through the whole process.

-I feel safer just being here.

-After talking to an account advisor, any unanswered questions you have become answered.

They give you a lot of good advice on how to store and manage your money.

-If you don't need business checking, then you must need a lobotomy.

(woman screaming) -Banking's not so scary anymore.

So I've learned to be less afraid of banks, and that's what a Biz Kid would do.

-Don't let the fear of business banking cut into your profit!

(laughing hysterically) -Hey, hey, hey!

What can I do ya for?

-Hi!

I've been looking at the cars in the lot and I'm interested in this one.

What kind of deal can you give me on it?

-Well, the sticker price is $6,995, but you look a good kid.

I'll give it to you for $5,500.

-That'll be awesome!

I've been saving a long time for my first car.

-How are you planning on financing?

-That's not a problem at all.

-Whoa, whoa!

You got $5,500 in a giant piggy bank?

-Just about.

Took me nearly ten years to save it up.

-Hold on.

Wait, this is crazy.

Wait, what do you mean "just about"?

-I've got the rest of the money, stuffed in this mattress.

Hi, I'm Sophia's father.

-What's with the mattress?

-I'm going to help my baby girl buy her first car.

-Don't you understand that if you'd opened a savings account in a real bank, you could have reached that goal a lot sooner?

-How do you mean?

-Savings accounts collect interest, not... bed bugs.

That money could have been working for you instead of just sitting there.

I mean, that's what banks are for.

-But my piggy bank is so cute.

-I need a break.

-Not much of a salesman, is he?

-Banks play a crucial role in the economy.

They stimulate the economyby.

-When you deposit $100 in the bank, the bank keeps some and loans the rest out.

The amount that they have to keep is dictated by the Federal Reserve.

Usually about ten percent.

-So with that $100 deposit, the bank keeps ten dollars and loans out 90.

That $90 goes out into the economy and is used by borrowers as they buy goods and services.

Usually in the end it just ends up being deposited in another bank.

-That other bank can then loan out $81 of that $90 deposit, and so on, and so on.

-So that initial $100 makes a much larger ripple in the economy than it ever could have just sitting in a piggy bank.

-Just one more reason for you to open your own bank account.

-Now there are lots of different kinds of banks and different reasons for choosing each one.

-A retail bank deals with individuals and small businesses, and their goal is to make a profit.

-Credit unions are not-for-profit cooperatives that are owned by the members.

-There's also commercial banks dealing with big businesses, private banks catering to high wealth individuals, and investment banks dealing with investors and the financial markets.

-The future of banking is awesome.

There's already online banking and phone apps for mobile banking.

Someday there'll just be a holographic banker that gives you your account information and investment tips.

-Wow!

I don't think this bank is going to work for me.

-(softly): I don't think there's actually a bank there.

-Just pretend!

-Tell me, why should I pick you, Corporate Bank?

-I'll make sure your corporation is provided with the best services we offer.

-You're cute, but I'm only one person so... -So that's why my private bank is the one for you.

I'll manage your millions like nobody can.

-Millions?

Not even close.

-But my investment bank can change all that.

Put me in charge of your cash and my investments will make you a millionaire.

-My money goes to my car and student loans and living expenses, and the rest I put in an emergency fund.

But, maybe later.

-Think about this.

My credit union has the best interest rates around, and I'm a people person.

My heart belongs to my depositors.

Would you like to make a deposit?

-It's so hard to choose!

-It sounds like my retail bank may be the perfect fit.

We work with people to make daily banking a breeze with competitive rates, free checking, auto bill pay, and so much more.

-Oh, that does sound good.

I think I'm going to have to go with you, Retail Banker.

And... you too, Credit Union.

Will you both accept this rose?

Ahh... -Credit union talk spread through the community swiftly with the school children.

The small deposits they make in their own school credit union means a good future investment.

-This is where we go to school, this is where we work... -So come check out our student-run credit union.

-We are here at the student financial center of the Associated Credit Union of Texas.

The difference between a bank and a credit union is a credit union is owned by its members and it's not for profit, whereas a bank is for profit.

This credit union is just like a normal bank.

It's inside a high school, but it does the same functions as any regular credit union.

ACU offers simple things such as checking accounts, savings accounts, home, auto, life insurance, car loans, home loans.

Students are able to open accounts, and they can deposit checks if they have jobs here.

Or they can withdraw lunch money.

Or even sometimes we give change for the vending machine.

-Hi, welcome to ACU.

-Hi, can I have change for the vending machine?

-Sure, no problem.

-With online banking you can go in your account, you can see how much money you have in your account, you can transfer funds.

Uh, different things like that, and it's almost the same with mobile banking.

My favorite part here is being able to work with students and teachers that I know and helping them out.

It's different, and it's kind of fun because not only do I get to see the financial side of everything, but I can also help my friends and my peers start their own life and their own finances.

-And here's your $50.

-Well, that was easy enough, thank you!

-Have a good day.

-You have a great day.

-I would love to work in a credit union when I go off to college, because I think that it's an awesome opportunity to understand one's own personal finances.

BOTH: Ready?

Okay.

Our school has a credit union, yes we do.

Our school has a credit union, how 'bout you?

-Have a great idea for a business but no money to launch it?

Maybe you get a business loan.

Business loans can range from, let's say, 30 bucks to 30 million bucks or more.

Even kids can get a business loan to start or expand their business.

-I'm Tucker, I'm nine years old and I'm CEO of Wakaglow.

I got a loan from my bank to buy supplies wholesale for my business.

-I'm Clayton, I'm 12 and I'm the CEO of CEC Beautiful.

I got a loan from my bank to buy a bread slicer for my business.

-Come on in!

I'm Tijuan Harvey and I am the assistant vice president at Young Americans Bank.

Young Americans Bank is specifically designed for youth 22 and under.

That makes us a lot different from other "adult banks," is what we like to call them.

-Well, my business is basically just selling homemade bread around my neighborhood.

The bread that I serve, it's often really hard to slice once it's not warm.

I decided I would slice it for people before I delivered it, thus making it easier and more appealing.

-I sell nontoxic glowing products.

And this is your Wakawire.

Kids love playing with them and everyone likes wrapping them around their bike.

-I approved both those loans because they both provided me with a business plan and how they would make money off their business and what the structure would look like.

-I borrowed $30.

I was thinking, like, wow, I'm going to borrow money from the bank-- this is a big step.

-I ended up borrowing $250.

Tijuan helped me at the bank.

He showed me how to do the paperwork and everything because it was my first time.

He just showed me the ropes there.

-The biggest piece of that is that anytime you borrow money, it's not free money that you're borrowing.

-The banks charge interest because even though they're filled with people's money, they still have to make a profit.

So for every time you pay back your money, you have to pay them back a little extra.

-Clayton's fee... he had a six percent interest rate, where Tucker had a nine percent.

And it was just that during the times that they got their loans the rates just changed.

-Today I paid off the loan, and I'm really happy.

-Now that I have it all paid off, I feel good because now that doesn't have to be on my to-do list for the month.

-Tucker took his loan out for a full year, so he's going to get a credit score out of his.

Clayton only took his out for three months, so he's not going to get a credit score, but it will say he did have a loan at Young Americans Bank and he did pay it off.

BOTH: Hey, Biz Kid, a business loan could help you expand your business.

-These are the Banks of our Lives.

-So, you don't respond to my monthly statements.

You don't swing by the bank when we put out free cookies.

Are you...?

-Yes.

It's about time you knew.

I'm seeing another bank.

-Another bank!

Is it Prescott?

-Yes, it's Prescott.

I needed to do what felt right.

And, well, picking a bank is the same as shopping for anything else.

So I've compared and I've found that Prescott gives me more.

-But you know I'm the one you need.

I give you debit cards, free ATM, personal visits with loan officers.

-Maybe so, but Prescott gives me all that plus something you never can.

Better interest rates.

-Melissandra.

-I must teach you how to use the doorbell.

-Well, Clarissa, switching to Prescott means Dallas is mine now.

And I hope you're basing your decision on sound financial management.

-Well, Melissandra, I am.

I'm getting higher interest rates on my savings and short-term CDs.

And I have no fees on my checking account.

-There's more to Prescott than that.

More than you know.

-Melissandra, are you saying... -You can't mean... -Yes, that's right.

I'm carrying his... credit card.

-There's a lot more to banks than just savings and checking.

-They offer all sorts of products from loans and credit cards to certificates of deposit and other investments.

-There are many reasons to open up your first bank account.

-Your money is safer in the bank.

-And opening up a bank account is a good first step in establishing credit on your own.

-But remember, comparison shop.

There are many banks and they all offer countless products.

You want the bank that pays you the highest interest with the lowest fees.

-Okay, so I think I found the perfect pig for you.

-That's nice, but I think I'm going to open a savings account.

-Well, this one doesn't have a slot for money but... are we good?

-Uh, I guess so.

Looks like it's just you and me, babe.

-It's the Bank Teller action figure!

Now with new moves.

-I just got a check from Grandma for my birthday.

What should I do with it?

-Take that to the bank!

-Now my deposit's earning interest.

-I'm opening up a checking account to start establishing credit.

-Bank Teller action figure can open checking and savings accounts.

And help with savings plans to save for college or a car!

-Thanks, Bank Teller!

-You're welcome.

Would you like to see your balance?

-Cool.

-It's Bank Teller action figure, complete with all the banking services kids need.

Now with debit card action swipe.

Bank Teller action figure.

Get yours today!

Car sold separately.

-Just put me in a financial institution and watch me grow... and grow and grow and grow and... this is getting fun.

And grow... a little claustrophobic now.

-Are you a kid that runs a successful business?

-If so, then go to bizkids.com.

-We want to hear all about it.

Like, are you hiring?

-Wait, are you looking for a job?

-No, just go to bizkids.com and you could be on the show.

-That's bizkids.com.

What?

-Nothing.

-Production funding and educational outreach for Biz Kids is provided by a coalition of America's credit unions, where people are worth more than money.

A complete list of individual credit union funders is available at WXXI.org.

-Every day, America's credit unions help members with their financial needs and with programs like Invest in America.

It's only fitting that credit unions support Biz Kids because financial education is what we do.

Learn more at lovemycreditunion.org.