It's no secret that elder financial abuse is a major issue in our country today. And with Baby Boomers continuing to age into their retirement years, it's not going away anytime soon. One person who is not going to let this issue fester is Cooperative Credit Union Association President/CEO Paul Gentile.
Paul and the CCUA's partnership with EverFi have launched CU Senior Safeguard, a new initiative aimed at combating elder financial abuse. It's an initiative that is started at the credit union level, giving our industry even more value for members -- particularly ones affected by this abuse.
Here are some quick stats on this issue:
3-5 million victims costing $36 billion each year
Only 1-44 report it
Only 4% have taken a financial literacy course
Check it out and let us know your thoughts -- and be that credit union that steps up for its members to help stop this abuse.
Mike Lawson, Host
Married to a beautiful and wonderful wife, raising 5 kiddos (including twins!), enjoy helping others tell their stories, and love surfing SoCal waves. Keep it simple.