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How many of us get to hold $100,000 in our hands? What happens to your money when you deposit it in the bank? How do banks make money when they have to also invest it?
Scouts from our Scoutreach program got the chance to ask these and more questions during their behind the scenes tour of Wells Fargo Bank on April 26, 2008. The Scouts, their parents and Scoutreach staff received firsthand information about the banking industry and got a tour of the bank’s California Avenue branch; the highlight of the morning came when Cliff Wictorin, the bank manager, brought out $100,000 in cash on a silver tray and Scouts got a chance to hold the cash in their hands (of course under the close supervision of Mr. Wictorin and an assistant).
Mr. Wictorin gathered everyone in the bank’s conference room and gave a brief talk about the history of Wells Fargo Bank, how money is invested and grows interest, how the bank makes money from the funds we invest and lots...
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