Maine CUs Continue To Be Leaders On Protecting Seniors, Others From Financial Exploitation

November 13, 2013

The financial exploitation of seniors and other at-risk individuals has received lots of attention lately.  The Maine Sunday Telegram and other media outlets have done in-depth stories on the issue of elder abuse in Maine with particular focus on financial exploitation of the elderly.  For many years, the Maine Credit Union League has been actively involved in helping to generate awareness, strengthening laws and developing a training program to help combat elder financial abuse in Maine. 

“By many measures, Maine is the oldest state in the country so this is an issue that is particularly relevant in our state.  Maine credit unions are focused on helping others and this is an issue that we have been actively involved in for many years,” remarked League President John Murphy. 

The League’s Director of Governmental Affairs, Quincy Hentzel, is currently serving on a variety of committees and working groups helping to fight this problem.  This includes working with the Maine Association of Area Agencies on Aging, the Maine Office of Securities and other groups to study the issue and work on solutions.  A training program, which the League has been working on with others, has just been completed and will be rolled out to credit unions, other financial institutions and related organizations in December.  A brochure on elder financial abuse developed by the League is part of the materials being introduced. 

“We have spent a lot of time on this issue and have been praised by many groups for having such a significant focus on helping combat elder financial abuse.  Unfortunately, this is a problem that is growing so we need to work cooperatively to help be sensitive and aware of this issue and what steps can be done to reduce it,” added Hentzel.