On the front lines combating elder financial abuse

As trusted financial institutions, credit unions are often on the front lines of preventing elder financial exploitation. The latest America’s Credit Unions Blog entry details how credit unions use a comprehensive approach to protect its senior members.

World Elder Abuse Awareness Day took place Sunday, and Appalachian Community Federal Credit Union posted a news item sharing signs of elder financial abuse, and how their tellers and member services staff look for those signs in daily interactions with members.

The blog also shares how an Achieva Credit Union teller in Florida recognized the signs of a senior scam, and helped protect an 89-year-old member’s life savings.

The Department of Justice defines elder financial exploitation as the improper use of an age-60-or-older adult's funds, property, or resources by another individual. This can include fraud, coercion, denying access to resources, and more.

Another blog entry examines the importance of strategic planning for credit unions in their day-to-day operations.

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