United Educators Credit Union recently teamed up with the Minnesota Department of Commerce and Lutheran Social Services to bring valuable and timely information to a large group of seniors at the Coon Rapids branch.
"Why are seniors frequently the target of scams - because 2.5 million dollars in this country are held by 7 million seniors. This represents 70% percent of our countrys wealth!" said Shane Deal, from the Minnesota Department of Commerce. Shane shared some real life examples of elder financial abuse and tips on how seniors can recognize scamming attempts. "When transacting at the credit union, dont feel they are prying into your financial affairs. Their questioning is merely to identify any red flags and to thwart fraud on your behalf."
Lutheran Social Services (LSS), Geoff Bullock added that seniors should be wary of phone solicitations. He engaged audience members in skit that demonstrated a scenario of a common phone scam. His advice was to be wary, never give out personal information and hang up on phone solicitors. "Its not rude; its shrewd!" said Geoff. Other tips from Geoff included shredding mail concerning financial matters and always practice safe online usage.
In conclusion, Paul Dammann, United Educators CEO, commented that whether members are accessing accounts at the branch or online, UECU policies and procedures ensure the highest level of safety for their funds.
United Educators Credit Union was established in 1957 and is a member-owned, member-operated, not-for-profit financial institution, providing financial services to the Minnesota education community, their families, and those who support education by being a part of the United Educators Foundation. United Educators Credit Union offers a full line of financial services, and currently operates branch locations in Apple Valley, Coon Rapids, Eden Prairie, St. Louis Park and Woodbury.
