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When José Adolfo was 7 years old, he noticed some of his classmates were skipping lunch because they had spent the little money they had on sweets or football cards. This opened his eyes to poverty in his hometown in Peru. As he looked around more, he noticed many people living in poverty. There were children working in the streets, selling sweets at the traffic lights and begging, all whilst Adolfo got to go to school. Adolfo thought about how he could help them save money so they could go to school.
This is when he decided to start the first bank in the world created for kids and started by a kid, called ‘Banco del Estudiante’ (‘Bank for Students’ in Peruvian). The idea was that the bank would operate a system where kids could bring in solid waste (like plastic) to be recycled and they would get money for it in return. It would encourage recycling and help children save money, a win-win situation!
José emailed and met with teachers, pupils and anyone else who would listen to present his idea. A meeting with members of his town hall helped him get the support of a local cooperative that helped him formally register his bank.
Since its launch, Banco del Estudiante has gained 3,000 customers, helped children save $50,000 (about £37,000) and hired eight employees. In addition, the bank recycles about four tonnes of material (equivalent to four baby humpback whales) a month, making a huge difference in the problem of plastic pollution!
