This Elder Abuse Awareness Month: Stand Up for Our Seniors - Money Tip Tuesday

Identity theft criminals highly target some of the most vulnerable individuals in our communities. With a growing increase in identity fraud and other scams today, it’s critical that we do our parts to protect those in our lives most at risk of identity scams and especially elder abuse.  Links: Learn more and get helpful resources from the Consumer Financial Protection Bureau (CFPB) To learn more about how to recognize, help prevent, and respond to elder mistreatment, visit the National Center on Elder Abuse  Learn more about the identity protection benefits with a Better Checking account Check out TCU University for financial education tips and resources! Follow us on Facebook, Instagram and Twitter! Learn more about Triangle Credit Union Transcript: Welcome to Money Tip Tuesday from the Making Money Personal podcast.   At Triangle, protecting the financial well-being of you and your loved ones is a top priority. June is Elder Abuse Awareness Month, a time to raise awareness of the financial exploitation and other forms of abuse that disproportionately affect older adults. Elder abuse can take many forms. It could be physical, emotional, or financial, and it could be due to neglect or due to exploitation. Often, elder abuse goes unreported due to fear, shame, or isolation.  Did you know?  Financial exploitation is the most common form of elder abuse—and it often goes unnoticed until significant damage is done. Scams, fraud, and even manipulation by trusted individuals can leave lifelong financial and emotional impacts.  How you can help:  Learn the warning signs of financial abuse  Financial abuse doesn’t always look obvious—and that’s what makes it so dangerous. It can start subtly: a sudden spike in withdrawals or transfers, unfamiliar charges, or changes in spending patterns that just don’t seem to add up. You might notice unpaid bills piling up—even though your loved one has more than enough money to cover them. Other warning signs include new names appearing on accounts, unexpected changes to wills or power of attorney, or unfamiliar individuals accompanying your loved one to financial appointments and speaking on their behalf.  Trust your instincts—if something feels off, it’s worth taking a closer look. Staying informed about these red flags is one of the most powerful ways to step in early and help protect someone you care about.   Learn more about common ways older adults may be at risk and get access to helpful resources from the Consumer Financial Protection Bureau (CFPB) at consumerfinance.gov or use the link in the show notes.  Check in regularly with older family members  Consistent, meaningful connection is one of the strongest defenses against financial exploitation. Social isolation can make older adults more vulnerable—not just to scams, but to manipulation by people they trust. That’s why regular check-ins matter so much.  These don’t have to be formal conversations about money. A simple phone call, a coffee visit, or asking how things are going can open the door for your loved one to share concerns. Over time, these check-ins build trust and create a safe environment where they feel comfortable speaking up if something doesn’t seem right. It’s not just about vigilance—it’s about showing care, maintaining dignity, and helping them feel supported every step of the way.  Report suspicious financial activity  If you notice something unusual—whether it’s account activity that doesn’t make sense or changes in behavior that raise concern—don’t wait. Acting quickly can prevent further loss and protect your loved one from deeper harm.  Start by contacting your financial institution to flag the activity—they can often help monitor accounts, stop transactions, or add safeguards. You can also reach out to your local Adult Protective Services, who are trained to investigate and intervene in cases of suspected abuse.  Speaking up might feel uncomfortable, but it can make a critical difference. Reporting concerns is not about causing trouble—it’s about protecting someone’s well-being and ensuring they have the support they need.  Together, we can help protect the financial independence and dignity of older adults in our community. To learn more about how to recognize, help prevent, and respond to elder mistreatment, visit the National Center on Elder Abuse at elderjustice.usc.edu or check the link in the show notes.  Need help or have concerns?
Our staff is trained to recognize signs of financial abuse. Call us at (800) 276-2470 or visit your nearest branch for confidential support. If you suspect an older adult in your life has fallen victim to a scam or identity theft, contact us. If you’re a member with a Better Checking account, you have access to identity theft recovery services for up to three generations of your family, including your parents if they live with you. Check out our website, trianglecu.org for more information about the amazing benefits you and eligible family members can get with a Better Checking account.  If there are any other tips or topics you'd like us to cover, let us know at [email protected]. Also, remember to like and follow our Making Money Personal Facebook and Instagram to share your thoughts. Finally, remember to look for our sponsor, Triangle Credit Union, on Facebook and LinkedIn.           Thanks for listening to today's Money Tip Tuesday. Check out our other tips and episodes on the Making Money Personal podcast.