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Safe Banking for Seniors FAQs

Why should I participate in SBFS?

Older adults lose billions of dollars each year to fraud. Financial abuse against older Americans can take many forms, from illegal debits, to third-party scams and even unauthorized withdrawals by an approved caregiver. People over the age of 50 make up one-third of the population, but account for 61% of bank accounts and 70% of bank deposits. So, proactively working to protect older adults translates to protecting your bank. By capitalizing on banker-client relationships, banks are well positioned to not only identify, but also help mitigate against elder fraud. Additionally, SBFS provides banks with the opportunity to cultivate more relationships in your communities, while offering older adults and their caregivers with tools and knowledge on how to prevent elder financial abuse.

Additionally, once registered as a participant, your bank will appear on the list of participating banks. ABA Foundation will promote this list to media, state bank associations, policymakers, and community organizations. Participation is an opportunity to highlight your commitment to your community and get recognition for all your outreach efforts.

How do I get started?

Registering for participation in SBFS opens each January, available at no cost and ABA membership is not required. Once you've registered your bank’s participation through the ABA Shopping Cart, you will receive a confirmation email within 24 hours. The email will contain a link to a private resource page where you can access presentation planning tools, lesson plans, a social media guide and other communication materials to publicize your bank's efforts. ABA members can review the Start a Financial Education Program Toolbox for an in-depth look into beginning a program.

What qualifies as participation in SBFS?

Anytime you present the information, the event qualifies as participation. You can present on any one of the four modules to members of your community at your bank or present at a community event, either option qualifies.

When can I participate in SBFS?

There’s really no specific day or time. It really depends on when you’re available to present and when members of your community can participate. A few times of year to bear in mind include:

  • May – Older Americans Month
  • May 15 – National Senior Fraud Awareness Day
  • June 15 – Elder Abuse Awareness Day
  • August 21 – National Senior Citizens Day
  • September 9 – National Grandparent’s Day
  • October – National Cyber Crime Awareness Month
  • November – National Family Caregiver Month
  • December – Identity Theft and Protection Awareness Month

What if I don’t feel qualified to give a presentation?

SBFS materials were designed exclusively for bankers to make engaging presentations and are great for instructors with little to no experience teaching. Each lesson promotes audience participation through discussion and hands on activities, with an easy to follow, step-by-step, lesson plan. With these materials, every banker is qualified!

How can I connect with my community to schedule a presentation?

The ABA Foundation believes your bank is in the best position to make local connections. There are a host of groups in every community that serve older adults, such as senior centers, adult day centers, Area Agencies on Aging (AAA), Meals on Wheels, Volunteers of America, and various community-based organizations.

When registering you are encouraged to opt-in to accept presentation request through FinEdLink. This component of the program will connect you with parties in your community interested in having a banker-led financial education presentation.  

Where can I learn more?

Attend a live SBFS webinar or access a recording of a previous training session. A variety of training options are available on-demand through the Financial Education Webinar Portal. Still have questions? Reach out to the ABA Foundation staff directly. Contact information is listed at the bottom of the page.

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