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All In Credit Union Launches Elder Financial Abuse Prevention Program

Daleville, Ala. – June 24, 2020 – All In Credit Union is committed to protecting elderly members from the risk of potential fraud and exploitation. As a demonstration of this commitment, All In has established an Elder Financial Abuse Prevention Program designed to provide members with an extra level of account security.

Bobby Michael, President/CEO of All In Credit Union stated, “Helping our members safeguard their assets is extremely important to us.  With the launch of this program, we’re hoping to minimize the number of elder financial abuse cases by providing an option that is simple and secure.”

Statistics reveal that nearly 1 in 10 elderly Americans have been a victim of elder financial abuse with an average cost of $45,000 or more.  Such losses are often more when the victim knows the suspect personally.  In order to help seniors minimize the risk of becoming a statistic, All In has developed a meaningful solution by allowing elderly members to share the names of trusted individuals who can be alerted any time financial exploitation is suspected.

“Elder Financial Abuse is one of the leading crimes of our time,” commented Tangee Souders, All In Credit Union Vice President of Compliance/Risk Management. “That is why we have dedicated resources to making sure that we are providing every means necessary to help senior adults protect their assets.”

Souders went on to say, “Unfortunately, it is not uncommon for third parties to take advantage of the trust and good will of seniors.  In addition, it is more common for those who are elderly to become disabled, impaired and vulnerable to mistreatment by others.  For these reasons, we are encouraging members in this situation to take advantage of the extra level of security we provide.”

Any All In Credit Union member wishing to add another layer to their financial protection can do so by completing a form to designate trusted individuals who are authorized to be contacted if there is ever suspicion of financial exploitation.  Adding someone as a trusted individual does not add them as a joint owner of an account, does not make them a beneficiary and does not give them account access. 

 For more information about the Elder Financial Abuse Prevention Program at All In Credit Union, call (334) 598-4411 or email cuinfo@allincu.com.

All In Credit Union is a full-service financial institution with $1.7 billion in assets. They provide personalized financial solutions to more than 131,000 members in Alabama and Florida. The organization and its employees are committed to enriching the lives of others by helping them reach their goals and achieve financial success. For more information, visit www.allincu.com.

 


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