Credit unions pay to get magazine into public schools to help teach students about avoiding bad credit

ALBANY -- Bryan Sims, a 23-year-old magazine entrepreneur, might do a better job warning kids about the dangers of bad credit than teachers or parents can. At least, that's what a consortium of state credit unions and educators hope.

The New York Credit Union Foundation put up $400,000 to get copies of Brass, a quarterly glossy magazine with articles aimed at young people, into every public high school in the state for a two-year test run.

It's up to those principals and business teachers to decide whether to use the magazines in class, and to access the educational programs online that go with it. Paula Stopera, president of the Capital Communications Federal Credit Union, said she believes Sims and his magazine can reach profligate young spenders better than bankers or teachers.

"Bryan is a young adult. He understands first-hand the challenges facing this generation, and what we can do to change their future, and ours as a result," she said Tuesday afternoon at an Albany High School event to kick off the statewide program. Hers is one of six Capital Region credit unions supporting the program.

Sims formed Brass Media in early 2004 to reach young people ages 16 to 25. The theme is money -- how to make it, save it and spend less. Stories cover issues such as skiing on the cheap and buying a first stock.

The magazine is distributed mostly in credit unions. Brass reaches 300,000 young readers, with stories written by, for and about people their own age.

It was in a credit union that Jon Greenwalt, supervisor of business and marketing education with the state Education Department, first saw the magazine a few years ago. He asked the company for some copies, and distributed them to business teachers, who loved them.

Brass Media then went to work with educators, putting together a high school edition and supplemental educational programs.

And getting it into New York's public school districts has sparked interest at schools in other states, Sims said.

The Corvallis, Ore.-based magazine has 21 employees. Sims said it broke even last year and could turn a profit this year.
Assemblyman Jack McEneny, whose father and son went to Albany High School, warned a round table of students assembled for the event to be careful about taking on debt that could restrict their choices later in life.

"Paying for months for meals long forgotten is something that can be brutally cruel, because debt is a cruel master," he said.

The eight students in the round table -- five girls and three boys from business teacher Diann Scialdo's business and financial career exploration class -- are more savvy about credit than many of their peers.

The seniors had all taken business courses, were bound for college and hoped to become accountants, fashion designers or business owners. They said they know lingering debt can scuttle those plans.

During a discussion with the students, Sims asked what they would do if they had $100 in their pocket. Senior Marcel Lewis immediately volunteered that he would pay his cellphone bill.

"That's my first priority right now," he said.

Harlin can be reached at 454-5442 or by e-mail at kharlin @ timesunion.com.