FDIC Consumer News Guide for Seniors Wins Consumer Education Award

June 28, 2006, A special issue of FDIC Consumer News devoted to helping seniors and their families make smart decisions about their retirement savings and daily money management has won a 2006 Achievement in Consumer Education (ACE) Award from the National Association of Consumer Agency Administrators (NACAA). The award for “Fiscal Fitness for Older Americans: Stretching Your Savings and Shaping Up Your Financial Strategies” was announced at the NACAA’s 31st Annual Meeting last week in Seattle.

The NACAA represents more than 160 consumer agencies at all levels of government in the United States and several other countries. Its members work with consumers to solve problems, advance legislation, and support consumer education and outreach. The ACE awards honor achievements in consumer education in three categories: print, broadcast and programs. The award winners were judged on the quality of text and design, effectiveness of message, accuracy and usefulness of information, creativity, value to the community, and program results.

“Effective consumer education is crucial in the ongoing fight to prevent consumer fraud, and we are delighted to honor the good work at the FDIC,” said Elizabeth Owen, Executive Director of NACAA. “The judges were impressed with the focus of ’Fiscal Fitness for Older Americans.’ The population is aging and along with health issues, money concerns are of great importance. We look forward to more timely topics from FDIC Consumer News in the future.”

Also among this year’s 12 NACAA awardees are the Federal Citizen Information Center, the Federal Trade Commission, and consumer protection offices for Ohio, West Virginia and Puerto Rico.

The FDIC guide for seniors (the Fall 2005 issue of the quarterly FDIC Consumer News) includes practical tips and information on: sources of funds during retirement and potential pitfalls to avoid; protecting against financial frauds that target the elderly; simplifying and organizing finances; what to consider before giving others access to bank accounts and safe deposit boxes; and things seniors (and everyone else) should know about FDIC insurance. The publication also features retirement strategies to consider at different life stages, a 15-question quiz on money management for seniors, and a list of government resources (including some from the FDIC) that older Americans and their families can turn to for help on financial matters.

The guide is available online at www.fdic.gov/consumers/consumer/news/cnfall05. The FDIC also is providing single copies free of charge through the Federal Citizen Information Center by ordering online (start at the FDIC Web site above) or by writing to: Fiscal Fitness for Older Americans, Pueblo, CO 81009. Consumers also may call toll-free 1-888-8-PUEBLO (1-888-878-3256) weekdays 8 a.m. to 8 p.m. Eastern Time and ask for “Fiscal Fitness for Older Americans.” Also, the FDIC is encouraging financial institutions, retirement communities, government agencies, consumer groups, the media and others to reprint the new guide in whole or in part and to mention or link to the FDIC Web site.

The goal of the quarterly FDIC Consumer News is to deliver timely, reliable and innovative tips and information on financial matters, free of charge. Current and past issues are online at www.fdic.gov/consumernews.

The FDIC also offers a free subscription service to FDIC Consumer News that provides an
e-mail about each new issue posted to the Web site and a link to stories of interest. Instructions for subscribing are posted at www.fdic.gov/about/subscriptions/index.html.

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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation’s banking system. The FDIC insures deposits at the nation’s 8,790 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars –insured financial institutions fund its operations.

FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC’s Public Information Center (877-275-3342 or 703-562-2200). PR-64-2006

Contact Information

Jay Rosenstein

Media Contact

Federal Deposit Insurance Corporation (FDIC)

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