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COIN RECIRCULATION CAMPAIGN

Bangko Sentral ng Pilipinas

Corporate Affairs Office

OverviewOverview• The Bangko Sentral ng Pilipinas (BSP) spends over a billion pesos annually to produce coins

• More than 11 billion pieces of coins in circulation

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• Almost 150 coins per Filipino, 3 x regional average of 50 coins

• Yet, retailers have difficulty sourcing coins to provide exact change to consumers

Where are the coins?Where are the coins?

• In charitable organizations’ coin containers in stores, where consumers donate coins

•• In people’s homes and workplaces

•• In vaults of banks

• Attitude change

The problemproblem is not supply,but circulation…

The solutionsolution is

• Efficient and regular RECIRCULATION of coins

Project RationaleProject Rationale

- generate savings for government

Efficient coin recirculation will:

- benefit consumers

- provide retailers with sufficient coin supply

Pilot Project at BSPPilot Project at BSP

• Information campaign through coordination meetings, collaterals, public address system announce-ments

• Inter-department contest tocollect coins

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•• Corporate Social Responsibilitycomponent added

• Retail association invited as partner

• Media exposure maximized

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•• Project raised enough funds for 7 ½ houses

• Value of coins and the need to recirculate these inculcated among employees

HELPING HELPING SCHOOLS SCHOOLS THROUGH THROUGH

COINSCOINS

Nationwide coin Nationwide coin recirculation campaignrecirculation campaign

• Beneficiary - public elementary schools

• 6-month coin donation campaign

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•• Principal donation centers- Schools, banks, member stores of retailers association

•• Banknotes and checks also accepted from business groups

StrategyStrategy

• Get support from principal conduits, users and recipients of coins

•• Implement communication plan

CommunicationCommunication PlanPlan

APPRECIATION - Emphasize importance and convenience of availability of coins

AWARENESS - Remind people of uses of coins

VALIDATION - Prove that coins canadd up to significant amount

MechanicsMechanicsBanks

Donating PublicSchools

PRA Outlets

DepEdTrustFund

Bank Associations

Specific TargetsSpecific Targets• Sign up Department of Education (DepEd) as major partner:

- to mobilize students to support recirculation program

- to manage fund to be raised

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DepEd as major partner:

- currently, students have beendepositing donations

- student associations have volunteered to setup collection centers

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•• Sign up key stakeholders to support program

- Banking industry - Memo of Agreements

signed with 4 banking associations

Specific TargetsSpecific Targets

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- MOAs signed with major broadcast networks for media exposure

Other Stakeholders:

- Radio-TV commercials, photo / press releases, interviews

-- Media

- cinema screening

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-- Business groups- retailers and other business

associations

Other Stakeholders:

- Coin intensive industries- transport groups, gasoline station dealers

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Specific TargetsSpecific Targets

- conceptualize, produce, and distribute posters, stickers, T-shirts, coin purses, tote bags

•• Produce collaterals

- conceptualize, produce and place radio-TV plugs

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Specific TargetsSpecific Targets

• Get celebrity endorsements - music bands, child stars

•• Schedule series of launches - Metro Manila, regional launches

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Target ResultsTarget Results

• Attitude change

• Coins generated will exceed the expenditures for the campaign

• Assistance to public schools

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www.bsp.gov.phwww.bsp.gov.ph