Bank of American Fork Encourages Age-Friendly Banking To Combat Elder Financial Abuse

AMERICAN FORK, Utah, June 19, 2014 /PRNewswire/ -- Bank of American Fork is concerned about the growing financial abuse of seniors and encourages all banks and citizens to fight this problem with age-friendly banking.

"We feel it is our duty as bankers who have an inside view of what happens in banking to do what we can to protect our most vulnerable citizens," said Richard Beard, CEO of Bank of American Fork. "Seniors can be exceptionally vulnerable because they often place their trust in others to help maintain their finances—be it a family member, close friend, or a new friend who intercedes just to take advantage. Any one of those trusted people are capable of elder abuse. It's up to all of us to put safeguards in place and be aware of the warning signs so we can protect our customers."

Bank of American Fork is committed to making their community a stronger and safer place—protecting seniors is a part of that commitment.  In-house initiatives to prevent elder abuse include "view-only" banking for caregivers or other trusted supporters. "View-only" banking means persons who have access to a senior's account can see all the details to make sure everything is on track, but cannot make any transactions. This can protect senior citizens from fraud, but it also can protect caregivers and supporters from unwarranted suspicion. For more safeguards against financial abuse visit blog.bankAF.com/seniors.

Bank of American Fork also supports other initiatives and projects to protect seniors including:

• Support of World Elder Abuse Day, sponsored by the United Nations
• Distributing the book Navigating Your Rights: The Utah Legal Guide for Those 55 and Over (http://legalguide55.utah.gov)
• Providing information on warning signs of fraud
• Training tellers to be aware of fraud and to practice age-friendly banking
• Participation in state and local senior events.

With the senior population set to more than double by 2025, it is essential to protect the future of this growing group. Bank of American Fork is doing just that.

About People's Utah Bancorp

People's Utah Bancorp was established in 1999 as the holding company for Bank of American Fork, established in 1913. Lewiston State Bank is also part of the People's family, and has been serving customers in the Logan area since 1905. People's is Utah's community-bank leader, with 18 locations from Cache Valley to St. George and more than $1.3 billion in assets. People's, through its family of banks, is committed to preserving the community-bank model and providing exceptional service with a full range of bank products and the best available technologies. More information about the People's family of banks is available at www.bankaf.com and www.ls-bank.com.

Contact:
A. Cory Maloy
Snapp Conner PR
(801) 994-9625
[email protected]

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SOURCE People’s Utah Bancorp