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June 12, 2017Berkshire Bank Participates in World Elder Abuse Awareness Day
Berkshire Bank announces its participation in World Elder Abuse Awareness Day on June 15 by hosting informational seminars at local senior centers and libraries across its footprint.
World Elder Abuse Awareness Day is acknowledged annually in June to spread awareness and increase understanding of the issues surrounding the physical, emotional, and financial abuse of elders. Elder Financial Abuse is defined as a crime that deprives the resources and independence of elders through the misuse of assets and exploitation of financial control.
“According to the American Bankers Association, Americans 50 years and older control more than 70 percent of our nation’s wealth, making them prime targets for exploitation,” stated Tami Gunsch, EVP Retail Banking. “One of the first steps toward prevention is to have conversations with the important people in your life, including your banker, about how you can work together to safeguard your money and personal information.”
To bring attention to this growing concern, Berkshire Bank is offering free educational seminars at various community centers across its footprint on June 15. These events will be facilitated by Bank employees, who will conduct the workshop through directing an informational presentation. Listed below are the dates, times and locations that these events will take place in the Capital District:
June 15, 2017 10AM-12PM
Colonie Service Centers
6 Winners Circle, #1
Albany, NY 12205
June 15, 2017 TBD
Hudson Library
51 N 5th St
Hudson, NY 12534
To help older Americans and their caregivers protect themselves or their loved ones from financial abuse, Berkshire Bank is offering the following tips:
- Plan ahead to protect your assets and to ensure your wishes are followed. Talk to someone at your financial institution, an attorney, or financial advisor about the best options for you.
- Carefully choose a trustworthy person to act as your agent in all estate-planning matters. Select someone who has your best interest at heart.
- Never give personal information, including your Social Security Number, account number or other financial information to anyone over the phone unless you initiated the call and the other party is trusted.
- Stay alert to common fraud schemes. Never pay a fee or taxes to collect sweepstakes or lottery “winnings.”
- Never rush into a financial decision. Ask for details in writing and consult with a financial advisor or attorney before signing any document you don’t understand.
- Check references and credentials before hiring anyone. Don’t allow workers to have access to information about your finances and make sure to lock up your checkbook, account statements and other sensitive information when others will be in your home.
- Pay with checks and credit cards instead of cash to keep a paper trail.
- You have the right not to be threatened or intimidated. If you believe you are a victim of elder financial abuse, contact your local Adult Protective Services, tell someone at your bank or call your local police for help.
Berkshire Bank is passionate about shedding light on this topic and welcomes local senior centers to reach out to volunteer@berkshirebank.com to begin a partnership. Elder Abuse Awareness is a matter that needs attention every day, and its Bank employees look forward to continuing efforts to raise awareness in the Bank’s communities.
