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Credit unions in Maine can utilize two important training programs to help keep their older members safe from financial exploitation: Senior$afe and AARP’s BankSafe.™ In a recent newsletter to financial institutions, AARP provided an update on BankSafe and how credit unions can earn a 2022 BankSafe Trained Seal. Key highlights of their update as it appeared in their newsletter are outlined below.
BankSafe Stops Over $100 Million From Financial Exploitation
After a record-breaking second quarter in 2021, the BankSafe initiative achieved a huge milestone and surpassed the $100 million mark in dollars saved. To date, the BankSafe initiative stopped more than $104 million from ever leaving the accounts of consumers. Since the launch, BankSafe has remained committed to protecting older adults from losing their hard-earned money and empowering banks, credit unions, and financial institutions with the vital tools needed to protect their consumers. More frontline staff are completing the training than ever before and frontline workers are confirming their ability to help better protect their customers, feeling confident they have the resources needed to help identify and prevent financial exploitation.
AARP BankSafe Trained Verification Program Launches
Become a part of the esteemed group of BankSafe Verified Organizations by applying for the 2022 BankSafe Trained Seal. As part of the BankSafe program, financial institutions in good standing can apply to have AARP verify that at least 80% of their frontline staff successfully passed the BankSafe training and confirm that they have a financial-exploitation escalation or reporting policy.
AARP qualifies financial institutions to use the AARP BankSafe Trained Seal on an annual basis. The BankSafe verification is good for one year. The application window opened October 1, 2021 and will be open until November 15, 2021.
If your credit union is interested in participating in this program, you can sign up for the AARP BankSafe training online. To view a list of frequently asked questions and answers about BankSafe, visit AARP’s website.