May 2022 Money Smart Newsletter: Success Stories

Celebrating Older Americans Month with Money Smart for Older Adults

In May we recognize Older Americans Month! For this month, we are highlighting Allegacy Federal Credit Union of Winston-Salem, NC, for their use of FDIC’s Money Smart for Older Adults to educate senior citizens in their community.

In November, Allegacy’s Fraud Risk Manager, Nikki Bennett, provided virtual training to all front line staff on multiple issues during Elder Abuse and Exploitation Month. Topics included: elder abuse and exploitation, identity theft and how it is a critical concern for older adults, and the Senior Safe Act. The front line staff are also trained on the Money Smart for Older Adults program. Each of their financial centers are provided with hard copies of the Money Smart for Older Adults curriculum to keep on hand at all times so that they are able to give them to their members as they are needed. Staff members also have access to PDF versions of the program in case members would rather have an electronic copy.

This November, she hopes to get back to in-person sessions. “If we’re able to meet in person by November, I would love to go back to what we did pre-COVID. We had a lunch-and-learn session where Allegacy teamed up with a Special Agent with the North Carolina State Bureau of Investigation. We invited all of our members aged 65 and over, provided lunch, and taught them about elder abuse and exploitation utilizing FDIC’s Money Smart curriculum. Each participant was provided with copies of the materials and additional handouts from the FTC, NCUA, AARP, CFPB, and others.” These lunch-and-learn sessions sometimes had more than 65 attendees.

“The Money Smart for Older Adults curriculum has become an invaluable asset to our organization,” says Nikki Bennett. “Quite honestly, it’s the most all-inclusive program I have come across in all of my twenty plus years in banking.” She plans to expand their program to a broader audience. “We will try to get businesses to utilize the program for their customers, as well as host a number of virtual training sessions for our members throughout the year.”

Have other tips? Please share them with moneysmartnews@fdic.gov.