Help Elderly Members Keep More Of Their Hard-Earned Savings
Elder financial exploitation has always been a concern and is only growing due to new technologies and strategies. Earlier this year, AARP estimated that elderly victims lose more than $28 billion annually to fraud attacks.
To further exemplify the problem, Americans over age 70 hold more than 30% of the nation’s wealth but make up only 11% of the population. Baby boomers make up a large share of credit union members and hold much of the assets, making elder financial fraud not just a social issue, but a direct institutional risk.
Michigan Legacy Credit Union acknowledges this as a serious threat to its community and its leaders are taking action in a new way. In partnership with the Institute of Gerontology at Wayne State University, the cooperative launched a pilot program based on scientific evidence that helped reduce reports of elder fraud by 50%.
In this exclusive webinar, Carma Peters, CEO of Michigan Legacy Credit Union, will share how the credit union is using research-backed strategies to identify and stop elderly fraud before it starts causing harm.
- How the cooperative was able to set up a successful pilot program.
- What measurable results the program has delivered so far.
- Best practices and lessons learned that you can adapt for your own credit union.
