For Kids:
The Federal Reserve (nicknamed "The Fed") is a large central banking system that lends money to other, smaller banks.
Most nations in the world have one central bank. But the United States has 12 District Federal Reserve banks with 25 branches. That's how big it is. All national banks are required to be members of the Federal Reserve System, and state banks may join if they meet membership requirements. There are a lot of benefits for joining, but because it is not free, and does tie up some of a bank's money, not all state banks choose to participate.
Is the FDIC part of the Federal Reserve system? No. The FDIC is a government agency and is the primary federal regulator of banks that are chartered by states that do not join the Federal Reserve.
Credit Unions: Is your money FDIC insured? No. But they do have the option of a different type of insurance to keep your money safe.
The Fed has a powerful job. They not only lend money to smaller banks, the Fed regulates and controls pretty much all of the US paper money in circulation. They control other things, too. So, let's make sense of the Federal Reserve and find out what they do that affects you.
For Kids - Free, Online, Interactive
What is the Federal Reserve Bank? (nicknamed The Fed, video)
Making Sense of the Federal Reserve - flash cards, matching game, word search game
Fed Board Builder (online game, 6th-12th, may need teacher assist for middle school)
Federal Reserve Fiscal Policy Interactive
The Fed's Regional Structure - 3 videos
See Also: Economics for Kids free online games and activities
For Teachers - Free Use
Federal Reserve Basics - Human Bingo (HS lesson plan, classroom activity)
Making Sense of the Federal Reserve (cartoon video to use with students)
Federal Reserve Education Lesson Plans
See Also: Economics Lesson Plans
Free to Use Original Clipart for Economics for Kids and Teachers