Mauch Chunk Trust Company Joins "Safe Banking For Seniors" Campaign
New education initiative to combat $2.9 billion in annual senior fraud
Jim Thorpe, Pennsylvania (April 29, 2022)-
May is “Older Americans Month” and Mauch Chunk Trust Company is joining the national effort to protect seniors from becoming victims of fraud and financial abuse by providing Safe Banking for Seniors resources at www.mct.bank/SafeBankingForSeniors. Mauch Chunk Trust encourages both seniors and their financial caregivers to learn how to identify and avoid scams, prevent identity theft, or choosing a responsible financial caregiver.
Each year older customers lose approximately $2.9 billion to fraud, but it is suspected that number is drastically underestimated because only 1 in 44 seniors report financial abuse. Safe Banking for Seniors is a new financial education program established by American Bankers Association Foundation to help combat this growing problem.
“Scammers are always developing new ways to take advantage of people, and sadly, they often targeting older folks for numerous reasons,” said Patrick Reilly, President/CEO of Mauch Chunk Trust Company. “The Safe Banking for Seniors presentations will provide older customers and their financial caregivers with the knowledge they need to proactively protect themselves and their loved ones from these crimes.”
Mauch Chunk Trust Company also offers the following tips for seniors and their financial caregivers:
Mauch Chunk Trust Company was incorporated August 25, 1902 as the successor institution to the Second National Bank of Mauch Chunk, established in 1864. MCT remains a locally owned and managed independent community bank with its main office in Jim Thorpe, PA, and operates a total of 7 Community Offices & 1 Trust/Investment Office throughout Carbon and Schuylkill Counties, Pennsylvania. For more information about MCT, please visit www.mct.bank.