Service Credit Union is committed to preventing financial exploitation of its older members. As part of our efforts to combat this growing problem, frontline staff were trained in AARP’s specially developed, award-winning BankSafe program to identify and stop suspected financial exploitation, earning our team the AARP BankSafe Seal. Service CU is one of 115 banks, credit unions and financial advisory firms that earned a seal from AARP recognizing the steps they’ve taken to stop financial exploitation.
“These financial organizations provide a critical line of defense to protect the life savings of their older customers, members and clients,” said Jilenne Gunther, National Director of AARP’s BankSafe Initiative. “Access to employee education, intervention tools, and trainings like BankSafe is an important resource for protecting older adults and all consumers from financial exploitation.”
Based on a Virginia Tech study from October 2019, it is estimated that BankSafe-trained employees helped stop more than $110 million from being stolen from the accounts of older adults. Currently, BankSafe-trained employees of these financial organizations are better protecting their some 80-million customers, members and clients.