Rampant financial illiteracy in the late 80's was clearly demonstrated by the spiraling growth of consumer debt, especially credit card debt, widespread credit defaults, mortgage foreclosures, and escalating personal bankruptcies. These were the factors that motivated senior management at The Credit Bureau in Rochester, NY, to embark on an innovative open-ended program of promoting financial responsibility through education in the inception of its Education Department.

Initially, programs on debt and credit management were designed to serve the financial educational needs of the entire community. Seminars were available free to groups first in the City of Rochester followed by availability throughout the county and surrounding areas.

In its inception, a Speakers’ Service Bureau, comprised of volunteers from the Rochester financial and general business sectors was formed to provide live classroom presentations dealing with personal finance and the wise use of consumer credit. We ascertained that these critically needed life skills for high school juniors and seniors who, upon graduation will become full-time consumers, were not part of the school curriculum. The decision to focus on high school students was influenced by the then current studies that students, graduating high school seniors, and young adults were poorly prepared to make informed buying decisions for consumer products and services.

At that point in time, the Speakers’ Service Bureau was a truly unique service, a teacher need make only one telephone call to The Credit Bureau’s Education Department complete all the necessary arrangements for a classroom program and avoid the extended, often frustrating search for a speaker somewhere in the business community. As a result, our programs developed such strong community interest that a genuine need was recognized to develop programs targeted for children in the elementary grades that taught basic money skills.

Multiple programs were then created for other clients which include local employers, many social agencies in the community, churches, universities, and colleges.

When the live classroom and other public presentation programs were functioning satisfactorily, we turned to television as the way to effectively reach the mass audience. For the most part, we have executed year-long programming using the major networks and cable stations. Additionally, a consumer credit "hot line" telephone was developed for consumers who want one-on-one contact for any question on personal finance and credit.

In our several years of TV usage, the basic themes of sound money and credit management themes have been aired repeatedly in the "Credit Tips" series consisting of 30-second spots. Most recently, in mid-1999, we added live radio as another effective voice with which to reach a large number of potential listeners in and around the Rochester area. The program has a live call-in format with two staff co-hosts dealing with a specific money-credit topic on each broadcast.

In a recent corporate reorganization, the Education Department and the Speakers’ Service Bureau have now become known as the Credit Education Bureau. The Credit Education Bureau better reflects the scope of services and the diversity of programs that continually provide financial management to all sectors of the community.

From day one, the Credit Education Bureau has responded to every request for radio and TV talk shows, has participated in every community event related to personal finance and consumer credit, and has distributed thousands of credit education and financial management brochures utilizing the Rochester area 34-branch community library system.

The Credit Education Bureau exists because there will always be a need to promote financial responsibility through education--not just by the observance of a few special days or weeks throughout the year--but rather on a daily basis to improve the quality of life for citizens and the economic health of the community.

For more information or questions, contact Chad Rieflin, Education Chairman, at (585) 256-6076, Credit Hot Line (585) 256-6080, or email crieflin@creditbureauroch.com.