Contact: Jenefer Duane, Founder & CEO
Elder Financial Protection Network
SAN FRANCISCO — A nonprofit that protects the elderly from financial exploitation presented Star One Credit Union with its Visionary Leadership Award, recognizing the credit union’s efforts to protect the aged from financial abuse.
The award was conferred at the March 26 Call to Action, the yearly conference of the Elder of Financial Protection Network.
The EFPN cited the Sunnyvale, California-based credit union for its early and extraordinary attention to its retiree account holders.
In 1993 when Star One recognized that surviving family members of deceased account holders and retirees of Lockheed Martin needed help with their accounts, it committed two full-time employees to assist them. In 1997, the credit union launched its retiree services division adding an additional staff person to the cause.
The financial institution made the first report of its experience with the aged and their assets to Adult Protective Services in 2000. Star One created an early detection mechanism to keep elders’ assets from the hands of abusers. Its proactive approach increased staff awareness and connected seniors with much-needed assistance.
Since then, Star One has been an active participant in the Financial Institution Team of Santa Clara County with other financial institutions. The FIT educates the public, local senior citizens and those interested in their issues about the prevention of online fraud, scams, identity theft and other forms of exploitation.
In addition to its passionate support and participation in FIT, the Sunnyvale-based credit union holds regular educational seminars for its membership on this subject.
By Francine Brevetti