Local children experience the thrill of handling gold ingots

As part of the Zug Holiday Pass scheme for children, a number of them were able to see what it is like in the strong rooms at the city’s branch of the Union Bank of Switzerland.

It is not every day that 10-year-olds get the opportunity to hold gold ingots weighing twelve-and-a-half kilogrammes worth around half-a-million francs, but this was the case earlier this week as Simon Estermann, the manager of the Zug branch of the bank, and Remo Weltert, the head of private clients, led a party of some 20 children on a tour of the strong rooms, deep in the bowels of bank. “Just imagine how much pocket money you would have to save to buy one of these,” he said, putting the value of it in a context they would understand, as he no doubt does with his own customers.

The bank has been offering these visits to children in connection with the Zug Holiday Pass scheme for fourteen years now, all free of charge. “It is important for us to be able do something for families, children and young people,” said Estermann, who has been instrumental in organising a number of such events or similar ones, such as the “Break the Safe” one for younger children, where they follow a sort of paper chase with puzzles throughout the bank to find out the answer to a code to open a safe. Ever since 2004, there has been a strong demand to take part. “I have even noticed some children coming two years in succession,” he said.  

As the young guests continued their tour, they were also able to see past the metre-thick security door with its strong hinges to the room containing the safe deposit boxes. Then they were able to see what it was like behind all the ATMs, an area not normally seen by the general public. What was pointed out to them was the strong way they were anchored to the ground, which prevents thieves from removing the whole machine to get at the cash.

There was also a more serious side to the visit, with Estermann and his team explaining to the youngsters how not to get into debt and the importance of budgeting. It is crucial young people learn how to handle their finances properly, especially as they leave school to take on an apprenticeship or start work, and in a world in which loan sharks operate.