ABA Foundation Marks Older Americans Month and Celebrates 10 Years of Safe Banking for Seniors

In recognition of Older Americans Month, the ABA Foundation today celebrated the 10-year anniversary of its Safe Banking for Seniors program-an industry-leading initiative that equips banks with practical, ready-to-use tools to help older adults and their caregivers protect themselves from financial exploitation.

The program partners with banks to protect older Americans through a comprehensive approach that includes training bankers to recognize, respond to, and report elder financial exploitation; providing customer education; cultivating partnerships with law enforcement and adult protective services; and leveraging technology for good.

Over the past decade, more than 2,050 banks have used Safe Banking for Seniors resources to reach more than 6.5 million older people nationwide with educational content designed to help older Americans and their caregivers learn about:

• Identifying and avoiding scams;
• Known perpetrator fraud;
• Digital safety matters;
• Protecting against identity theft;
• Retiring with limited means;
• Choosing a financial caregiver;
• Acting as a responsible financial caregiver;
• Understanding powers of attorney;
• Choosing executors; and
• Planning for stages of cognitive decline.

"For 10 years, Safe Banking for Seniors has helped banks deliver timely, actionable guidance to older Americans in their communities," said Sam Kunjukunju, vice president of consumer education for the ABA Foundation. "As fraud, scams and financial exploitation continue to grow in scale and sophistication, empowering seniors and their caregivers with practical resources is more critical than ever-and banks play a vital role in that work."

The Safe Banking for Seniors program provides registered banks with free turnkey resources that can be easily implemented with minimal staff time. These materials include facilitator guides, nine turnkey modules, social media posts, 15 educational videos, infographics, presentation slides and handouts designed for use in branches, community centers, senior centers, assisted living facilities, faith-based ministries, libraries and more. All program resources focus on one of three themes: managing money, financial caregiving or financial exploitation. They are designed to help banks address emerging risks and real-world challenges facing older adults and their families, while reinforcing practical steps consumers can take to protect themselves and their finances.

Registration for Safe Banking for Seniors is free and available to both member and non-member banks. Banks and community partners can learn more about Safe Banking for Seniors and access available resources here.

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About the American Bankers Association

The American Bankers Association is the voice of the nation's $25.3 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.1 trillion in deposits and extend $13.5 trillion in loans.

About the ABA Foundation

Through its leadership, partnerships, and national programs, ABA's Community Engagement Foundation (dba ABA Foundation), a 501(c)3, helps bankers provide financial education to individuals at every age, elevate issues around affordable housing and community development, and achieve corporate social responsibility objectives to improve the well-being of their customers and their communities.