By Michelle Durham

BROOMALL, Pa. (CBS) — Officials at a Delaware County financial institution officially cut the ribbon today on a brand new financial literacy center designed for children.

The room, in Franklin Mint Federal Credit Union on Sproul Road in Broomall, Pa., is designed to teach area schoolchildren important life lessons in an environment straight out of a “Berenstain Bears” book.

Author-illustrator Michael Berenstain gave permission to use the name and likeness of the famous characters that he and his parents created.

(Michael Berenstain with a character based on his family's books.  Credit: Michelle Durham)

(Michael Berenstain with a character based on his family’s books. Credit: Michelle Durham)

“I thought it was a wonderful opportunity,” Berenstain (right) told KYW Newsradio today.  “My family has always been very interested in financial education.  My parents and I have done a number of books on the subject.”

And he says this room allows their words to come to life.

Rick Durante, vice president of education for the Franklin Mint Federal Credit Union, explains what the activities in the room teach children:

“How to share your money, how to save it, how to spend it, and how to earn it. And we tell parents it’s never too soon to start educating your children about money.”

The mint is represented by a huge tree with a hollow trunk that children call crawl into, a “teller area” complete with tubes similar to what you see in the drive-through to transport money to and from the teller, and so much more.

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