World Elder Abuse Awareness Day

Elder Awareness

June 15th is World Elder Abuse Awareness Day, a day that is dedicated to raising awareness about the millions of older adults who experience elder abuse, neglect, and financial exploitation. Each year, an estimated 5 million older adults are abused, neglected, or exploited. Older Americans lose an estimated $2.6 billion or more annually due to elder financial abuse and exploitation, funds that could be used to pay for basic needs such as housing, food, and medical care. Unfortunately, it occurs in every demographic and can happen to anyone—a family member, a neighbor, even you. It is estimated that only one in five of these crimes are reported.

Service First Federal Credit Union is dedicated to meeting the financial needs of all of our members, and serving seniors in our community is an important part of this. Our employees serve as the first line of defense in recognizing signs associated with Elder Financial Exploitation and work every day to protect our members from being exploited.

There are things you can look for if you suspect that financial abuse of an elderly loved one has occurred. Watch for:

  • The disappearance of valuable objects

  • Withdrawals of large amounts of money, checks made out to cash, or low bank balances

  • A new "best friend" that isolates them from other friends and family

  • Large credit card transactions

  • Signatures on checks that look different

  • A name added to a bank account or newly formed joint accounts

  • Indications of fear of caregivers

We all play a role in helping end elder abuse. If you suspect someone of being financially abused, contact your local Adult Protective Services. Click here to learn more about World Elder Abuse Awareness Day.