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Neighborhood Credit Union is Holding a Free Elder Financial Exploitation Workshop

Neighborhood Credit Union is Holding a Free Elder Financial Exploitation Workshop

Published December 1, 2019

Neighborhood Credit Union is holding a free educational workshop this month over Elder Financial Exploitation for the Dallas-Fort Worth area. 

Financial Exploitation Workshop

On December 11, 2019, Neighborhood Credit Union is holding an Elder Financial Exploitation workshop. There will be two sessions: Afternoon 2:00 p.m. - 3:00 p.m. and Evening 6:00 p.m. - 7:00 p.m. and both sessions are free of charge. The workshops will be held at Neighborhood Credit Union’s main office training room at 13649 Montfort Drive, Dallas, Texas 75240. Members of all ages and member’s families are welcome. 

What is Elder Financial Exploitation?

According to the Older Americans Act, financial exploitation is the fraudulent or otherwise illegal, unauthorized, or improper actions by a caregiver, fiduciary, or other individuals in which the resources of an older person are used by another for personal profit or gain; or actions that result in depriving an older person of the benefits, resources, belongings, or assets to which they are entitled.

It has been reported that elder financial exploitation has reached over $2.9 billion annually, according to the Department of Justice. As the elder population continues to grow, it’s expected the amount will also continue to rise. Many times the perpetrator is someone the elderly know and trust. 

What Neighborhood Credit Union is Doing to Help

Neighborhood Credit Union staff is trained to look for red flags and to report any suspicion of financial exploitation and once reported we collaborate with the U.S. government in cases of suspected money laundering and fraud. The workshop held on December 11th will allow Neighborhood Credit Union to share useful information on how you can protect yourself and loved ones from any financial exploitation. 

On why we’re holding workshops BA & Compliance Officer, Brenda Miranda, says: “I believe knowledge is the best tool to fight against elder financial exploitation. If we can help our members and their families understand how they can prevent exploitation, we all win. We want our members to know that we fully support them in their financial journey at any stage of their lives, and this educational workshop is one way we can help.”
Neighborhood Credit Union is a not-for-profit institution that has committed to educating and preventing adult financial abuse and exploitation in the Dallas-Fort Worth area for over 90 years.

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