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Safe Banking for Seniors

Luther Burbank Savings (Honorable Mention) - Santa Rosa, California

2021 Community Commitment Awards Submission

  • Entry Category: Protecting Older Americans
  • Asset Size: Medium

The Bank launched a "Safe Banking for Seniors" program in 2020, in conjunction with its participation in ABA's national Safe Banking for Seniors campaign. The purpose of the Bank's program is to protect older adults, one of our most vulnerable populations, by providing them with educational resources and tools to help them, their families and caregivers prevent elder financial exploitation. Due to COVID, Bank employees were not able to conduct actual live training sessions to seniors at our branch locations or in senior living facilities. However, the Bank successfully shared these important educational materials with seniors residing in facilities near our branch locations through the creation of "Senior Kits." Resources included a folder containing brochures and bookmarks about common scams such as, "You've Won", online dating, grandkid, money mule and many more. The kits also included a "placemat" containing similar information as well as contact information to various resources available to them. All materials were compiled and placed into a reusable grocery bag.

In addition to providing educational materials to seniors through the distribution of the senior kits and branch handouts, the Bank created a designated "Safe Banking for Seniors" webpage that contains downloadable resources to educate seniors on common scams and provides information for available workshops in surrounding areas near them (https://www.lutherburbanksavings.com/banking-resources/safe-banking-for-seniors/).