May is Older Americans Month and the National Credit Union Administration is reminding seniors about the agency's online resources to help them manage money and protect themselves against fraud.
NCUA's Pocket Cents financial literacy website
NCUA also has a video explaining how certain financial scams specifically target older Americans and how to avoid being victimized. The agency's Consumer Assistance Center is available to answer questions or handle complaints.
The reminder about these resources are part of promoting financial literacy as a core mission of credit unions, under the Federal Credit Union Act.
"Consumer protection and financial education are key parts of NCUA's mission and part of the credit union model, as well," NCUA Chairman Rick Metsger said in the release. "Giving credit union members, particularly older Americans, the educational tools and security information to help them manage and protect their money is increasingly important, and I hope credit unions and their members will take advantage of the resources we offer."
In September 2014, NCUA signed a memorandum of understanding with AARP to work on a series of initiatives aimed at promoting education and outreach to help older Americans become more financially secure. Those efforts have included launching the agency's online Fraud Prevention Center, and incorporating AARP's Fraud Watch Network as a resource; co-hosting a Twitter chat on detecting and preventing financial abuse; and co-hosting a webinar on avoiding frauds and scams.
