Elder Abuse Awareness Month (Week 4)

Throughout June, we've taken time to shine a light on financial elder abuse—what it looks like, how to spot it, and what to do when you suspect it's happening. In this final part of our Elder Abuse Awareness Month series, we’re focusing on prevention: the tools, conversations, and services that can help protect you or your loved ones before abuse ever has a chance to begin.

Start with Conversations that Count

One of the most powerful ways to protect against financial abuse is through open and ongoing communication. Encourage honest discussions with family members and trusted friends about finances, future plans, and who should be involved in decision-making. Creating a network of people who know what’s normal, and what’s not, can help detect changes in behavior or finances early.

Use Tools to Stay Informed

At Commonwealth Credit Union, we believe knowledge is one of the best forms of protection. That’s why we offer account features that keep you in the know:

• Account Alerts: Set up notifications via text or email to track spending, withdrawals, or any unusual activity.
• Online & Mobile Banking: Easily view transactions, check balances, and monitor accounts in real time—anytime, anywhere.
• Transaction Limits: We can help set up spending limits or block certain types of transactions to reduce risk.

Trusted Contacts & Powers of Attorney

Having someone you trust formally involved in your financial affairs is a proactive way to safeguard your money.

• Trusted Contacts: Add a trusted contact to your account. While they won’t have access to your funds, we can reach out to them if we notice suspicious activity and are concerned for your safety.
• Power of Attorney (POA): Work with a legal professional to set up a POA. This designates someone to manage your finances if you’re ever unable to do so yourself. It’s best to choose someone reliable, transparent, and acting in your best interest.

How CCU Supports You

At CCU, protecting our members is a responsibility we take seriously. Our team members are trained to spot red flags and can act when something doesn’t seem right. If you or someone you know is ever unsure about a transaction, a new “friend,” or a financial decision, we encourage you to stop by a branch or give us a call. We’re here to listen, guide, and support.

We also offer educational resources to help you stay informed and empowered, including financial wellness tools through our personalized financial education platform.

 

Final Thoughts

Preventing elder financial abuse takes vigilance, communication, and the right tools. It’s about building a circle of trust, taking advantage of protective services, and knowing where to turn if something feels off.

Thank you for following along during Elder Abuse Awareness Month. Let’s keep the conversation going and continue protecting those who’ve spent a lifetime protecting us.