Senior$afe program helps recognize elder financial abuse
MADAWASKA, Maine — NorState Federal Credit Union this September 2016 will bring forth information about a public education program designed to stop elder financial abuse where it most often starts: inside the financial institution.
Senior$afe, which is a project of Maine financial institutions in partnership with the Maine Department of Professional and Financial Regulations and the Office of Aging and Disability Services -Adult Protective Services, encourages senior adults to protect themselves from fraud.
Senior$afe is a program that works with financial institution staff, and trains them to identify irregular financial activity that could indicate abuse, and how to intervene when necessary.
Elder financial abuse is typically carried out by a family member, friend or someone else who is trusted by the victim, often someone who has been given financial power of attorney. Forms of abuse can range from someone using a senior citizen’s credit or intimidating the victim into writing checks or handing over cash.
Maine’s congressional delegation has gotten behind the effort to educate seniors and protect them from financial fraud. Last year, Sen. Susan Collins introduced a bill replicating Senior$afe principles, and Rep. Bruce Poliquin helped to introduce a similar bill this year in the House.
John Murphy, president of the Maine Credit Union League, said, “We always welcome the opportunity to highlight our role and commitment in starting the Senior$afe program, and to have both Senator Collins and Congressman Poliquin acknowledge our leadership on this issue is nice to hear and a tribute to the importance that credit unions place on helping their members.”
For daily tips about Senior$afe and what consumers can do to protect themselves or a loved one from financial scammers, contact a local financial institution or follow NorState FCU on Facebook for daily tips throughout the month of September.
Other Senior$afe resources are Legal Services for the Elderly, 1 (800) 750-5353; the local Area Agency on Aging, 1 (877) 353-3771; and the Office of Aging and Disability Services – Adult Protective Services, 1 (800) 624-8404.
