FCAC leverages social networking to promote its financial education resources
OTTAWA, May 24, 2011 - With a presence on Twitterand YouTube, the Financial Consumer Agency of Canada (FCAC) steps into the world of social networking to extend the reach of its tools and consumer education materials to more Canadians.
"This is a great way to bring our resources to the consumer," says FCAC Commissioner, Ursula Menke. "Social media allows us to reach and engage Canadians in a way we couldn't before. It offers a world of endless possibilities through which we can better raise awareness of the importance of making sound financial decisions."
FCAC also extensively redesigned and restructured its website, fcac.gc.ca, in order to make it easier and faster for users to find the information they need to make informed financial decisions.
New design and updated information are just a start. In addition to social media applications, the website is significantly more interactive and organizes resources and information according to key life events, such as starting your first job, owning a home and planning for retirement. The site also provides improved navigation, search tools, news, consumer alerts and resources from tip sheets to publications on mortgages and other loans, saving and investing, insurance, banking and protecting yourself from fraud. Some of the most popular features are the online Budget Calculator, Mortgage Calculator, Mortgage Qualifier, Credit Card Payment Calculator and Credit Card Selector tools.
The new site also includes a number of improvements in navigation, search tools, and appearance of the sections that are geared towards federally regulated financial entities that FCAC oversees. These changes will facilitate dissemination of new information to the Industry.
With educational materials and interactive tools, the Financial Consumer Agency of Canada (FCAC) provides objective information about financial products and services to help Canadians increase their financial knowledge and confidence in managing their personal finances. FCAC informs consumers about their rights and responsibilities when dealing with banks and federally regulated trust, loan and insurance companies. FCAC also makes sure that federally regulated financial institutions, payment card network operators and external complaints bodies comply with legislation and industry commitments intended to protect consumers.
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Communications Manager (Acting)
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