In First 6 Months, Public Education Campaign Featuring Suze Orman Tops $6 Million in Free Publicity
April 4, 2011, Alexandria, Va. -- The National Credit Union Administration (NCUA) today announced that the “NCUA-Safe” campaign has now reached more than 150 million consumers, approximately 60 million of whom viewed it on television. Since beginning six months ago, the public education effort now tops $6 million in free publicity.
NCUA's multi-media initiative to educate consumers about the safety of money deposited in federally insured credit unions has produced returns well in excess of our contribution,” commented NCUA Board Chairman Debbie Matz. “The campaign has caught the attention of tens of millions of Americans in every state of the nation, as well as the District of Columbia.”
On October 4, 2010, NCUA initiated a campaign to remind the public that NCUA does for federally insured credit unions what the Federal Deposit Insurance Corporation does for banks: insure consumers' savings up to $250,000 per individual depositor. The “NCUA-Safe” campaign features Suze Orman, the personal finance expert millions of Americans rely on for advice.
“To date, every dollar invested in the “NCUA-Safe” campaign has produced four dollars in free publicity. That's a tremendous bang for the buck,” added Chairman Matz. “The continued pickup of the “NCUA-Safe” ads by broadcasters and other advertisers shows that NCUA has leveraged its resources to make every dollar count and count and count again.”
The campaign's 30- and 60-second television and radio public service announcements (PSAs), which are free, plus indoor and outdoor posters touting the safety of NCUA credit union insurance protection, have generated an estimated $4.3 million in free publicity through April 1, 2011. One notable part of the “NCUA-Safe” campaign included a free PSA that appeared twice each hour on an electronic billboard in New York City's Times Square between Thanksgiving and New Year's Day.
In addition to PSAs featured on television, cable, radio and out-of-home outlets, the campaign has generated in excess of $1.7 million in exposure from other outreach efforts including news releases and radio media tours. As a result, the “NCUA-Safe” campaign's free publicity currently exceeds $6 million.
To date, NCUA has spent approximately $1.45 million to create the campaign's advertisements and fund the initiative's outreach efforts. When completed, the “NCUA-Safe” campaign will spend about $225 per federally insured credit union.
The “NCUA-Safe” campaign will continue throughout 2011.
NCUA is the independent federal agency created by
the U.S. Congress to regulate, charter and supervise
federal credit unions. With the backing of the full
faith and credit of the United States, NCUA operates
and manages the National Credit Union Share
Insurance Fund, insuring the deposits of nearly 100
million account holders in all federal credit
unions and the overwhelming majority of
state-chartered credit unions. At
Pocket Cents, NCUA also educates the public on consumer protection and financial literacy issues.