Federal Reserve Chairman Greenspan Promotes Financial Literacy in Television Ad

WASHINGTON – Credit union groups aren’t the only ones promoting financial literacy. They now have a big name to help with the cause. With the hope of educating consumers on such topics as saving, budgeting and shopping for a car loan, Federal Reserve Chairman Alan Greenspan will be featured in a public service announcement set to air this week. “Making informed decisions about what to do with your money will help build a more stable financial future for you and your family,” Greenspan says in the 30-second television announcement. The ad also offers a toll-free number to obtain a pamphlet with tips on saving, budgeting and shopping for a car loan. The announcement will direct viewers to www.federalreserveeducation.org which has information on a number of financial issues such as identity theft, Internet banking and how the Fed operates including links to the agency and its 12 regional banks. Fed officials say the ads cost $30,000 to $40,000 to produce, but the agency will ask TV and radio stations to air them as free public service announcements.