RALEIGH, N.C. State Employees’ CU announced the creation of an emergency contact for members over 60 years of age who may suspect financial abuse, as part of the state’s new effort to combat elder abuse.
SECU said it is implementing several programs to help protect elderly members under a new state law requiring credit unions and banks to report suspected elder abuse to authorities. The law also encourages financial institutions to offer older adult members/customers the opportunity to submit a list of trusted persons to be contacted in case of financial exploitation.
SECU also said it is developing a resource library for older members with educational documents covering topics such as health care, Social Security and Powers of Attorney.
“As members navigate various life stages, they encounter challenges which become more prevalent in their later years,” said Debbie LaBarbera, senior vice president at the $25-billion credit union. “SECU is prepared to assist its members with these challenges by continuing our efforts to identify suspected financial exploitation and providing additional resources and services for older members as needed.”
“The Financial Exploitation of Older Adults law is an acknowledgment of the necessary protection for North Carolina’s most vulnerable citizens, and we look forward to working with other financial institutions and local and state authorities to implement the legislation,” she said.
