Patelco Credit Union Receives Industry Social Impact Award for Elder Financial Abuse Prevention

Efforts saved more than $2.7 million for Bay Area seniors so far in 2025

DUBLIN, CA, UNITED STATES, November 3, 2025 /EINPresswire.com/ -- Patelco Credit Union has been recognized jointly by the California and Nevada Credit Union Leagues with the 2025 Social Impact Award, honoring credit unions that demonstrate an unyielding dedication to building stronger communities and improving members’ lives. The award was presented this week during the annual REACH Conference in Palm Desert, California, attended by credit union leaders and partners from California, Nevada, and the United States.

The award celebrates Patelco’s groundbreaking Elder Financial Abuse Prevention Program (EFAPP), a multi-faceted initiative designed to protect senior members from financial exploitation, promote awareness, and empower employees to act swiftly when fraud or scams are suspected. With more than 20% of Patelco’s members aged 65 or older, the program addresses an urgent and growing need for awareness and education as elder Americans lose an estimated $4.9 billion annually to financial scams, according to the FBI.

In 2025 alone, Patelco’s EFAPP has prevented more than $2.7 million in potential fraud or scam-based losses for elder members, and reviewed $3.2 million in total flagged transaction requests. The program’s impact reflects Patelco’s holistic approach, combining employee training, technology safeguards, and community education:

• Empowered Employees: Over 500 Patelco team members completed AARP’s BankSafe ™ training, and Senior Advocates have been embedded across branches, contact centers, and fraud teams to provide discreet, informed support.
• Enhanced Protections: Custom transaction-monitoring software and a dedicated High-Risk Transaction Team now flag or delay suspicious activity, resulting in a 50% increase in Adult Protective Services reports.
• Community Education: Patelco’s “Smart & Safe” webinars and podcast episodes on the topic reached hundreds of member viewers, while “Don’t Be a Fraud Magnet” kits helped spread scam-prevention awareness.

In one case, a branch team recovered $30,592 after a scammer influenced an elder member to withdraw all liquid funds, even resorting to a bomb threat when transactions were refused.

“This recognition reflects the passion of the individuals who lead our Elder Financial Abuse Prevention Program and the dedication of our team members at every branch who build real relationships with our members,” said Melissa Morgan, Chief Delivery Officer of Patelco Credit Union. “Their care, vigilance, and compassion ensure that every member, especially our seniors, can feel safe, supported, and empowered in their financial lives.”

Patelco’s Elder Financial Abuse Prevention Program has not only transformed its internal culture but also set a replicable model for the broader credit union community, one where innovation, empathy, and operational excellence come together to create lasting social impact.

About Patelco Credit Union
Patelco Credit Union is a not-for-profit credit union committed to serving the financial health and well-being of its membership. With more than $9 billion in assets, Patelco empowers its 500,000 members to live their best financial lives through personalized solutions, advice, and expertise. Patelco has received multiple awards for excellence from leading consumer and business organizations, including Newsweek’s America's Best Regional Banks and Credit Unions and Bankrate’s Best Credit Unions, and was named a Best-In-State Credit Union in 2025 by Forbes. Founded in 1936 with $500 by employees of the Pacific Telephone and Telegraph Company, Patelco is headquartered in Dublin, California. For more information, visit https://www.patelco.org/.

Brian Davis
Patelco
+1 925-913-0041
email us here

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