FARMERS BRANCH, Texas, and MADISON, Wis. (3/21/13)--The Texas Credit Union League and its REAL Solutions program have partnered to develop an initiative to promote awareness about elder financial abuse and exploitation in the financial services industry.
"Credit unions can play a critical role in helping to reduce elder financial abuse and exploitation," said Mike Delker, TCUL senior vice president of Credit Union Relations. "Frontline staff members are the first defense in identifying suspicious activity" (LoneStar Leaguer March 20).
Red flags regarding abuse may include unusual, suspicious or stepped-up activity by accountholders on their own or in conjunction with another person who could be coercing the account holder to make transactions they normally would not make. Credit unions should watch for: