CUNA President/CEO Jim Nussle applauded credit unions for their efforts in serving seniors in an editorial published on LinkedIn Thursday.
June 15 has been declared World Elder Abuse Awareness Day by the International Network for the Prevention of Elder Abuse and the World Health Organization at the United Nations since 2006.
"It is unfortunate that we need such a day but inspiring that there are so many willing to advocate with, and on behalf of seniors who may vulnerable to abuse,” Nussle wrote. “America's credit unions are dedicated to meeting the financial needs of all consumers, and serving the seniors in their communities is an important part of their mission.”
Nussle noted that advocates from around world are gathering today in Washington, D.C. for the third Global Summit on World Elder Abuse Awareness Day.
“At today’s summit, staff from North Carolina’s State Employees Credit Union will be on the agenda to discuss financial abuse issues plaguing older adults and the legislation that could address the issues affecting our seniors,” Nussle wrote. “I applaud State Employees Credit Union for dedicating their time to advocate on this important matter.”
Nussle also cited steps that are being taken in Congress to protect the elderly. The Senior$afe Act (S. 223), introduced by Sens. Susan Collins (R-Maine) and Claire McCaskill (D-Mo.), would help credit unions protect seniors from unscrupulous activity by providing legal immunity for properly trained financial services employees who disclose concerns about potential financial exploitation of senior citizens.
“This common-sense legislation would allow for enhanced safety measures for some of our most vulnerable citizens and would be instrumental in providing even more opportunity for credit unions and other financial institutions to protect our nation’s seniors,” Nussle wrote. “CUNA strongly supports this legislation and is actively working with its supporters in Congress to secure its enactment.”