Suncoast Credit Union Earns AARP Banksafe Designation
TAMPA, Fla. — Suncoast Credit Union (Suncoast) is proud to announce 100% of their branch and Interactive Teller Machine (ITM) staff have completed the American Association of Retired Persons’ (AARP) award-winning BankSafe training program, which trains employees to identify and stop suspected financial exploitation and abuse, particularly among older adults. As a result, Suncoast was one of only 115 financial institutions nationwide to be awarded the BankSafe seal for its efforts.
To qualify for the BankSafe seal, a minimum of 80% of employees must pass the BankSafe training. Suncoast surpassed this goal by having 100% of member-facing staff in branches successfully complete the training.
A Virginia Tech study from October 2019, found that BankSafe-trained employees helped stop more than $110 million from being stolen from the accounts of older adults since the program’s inception.
“AARP’s BankSafe designation and the related training it provides is extremely important to us because it helps protect our most vulnerable members. It is also recognition of our ongoing efforts to continuously train employees to detect financial exploitation and fraud. This recognition is proof of our commitment to keep members and their assets safe.” said Bob Hyde, Vice President of Fraud Risk Management, Suncoast Credit Union. “Our team keeps up with the latest education on fraud prevention because when fraud is committed against anyone, and particularly vulnerable older adults, we all pay a price, and it’s not just financial. The stress and worry it creates for our members and their families is another cost that often goes unmentioned.”
According to the National Center on Elder Abuse, the annual loss by victims of financial abuse is estimated to be at least $36.5 billion.
To celebrate this accomplishment, all employees who have completed the training will be celebrated with a congratulatory luncheon. Additionally, employees will receive an AARP BankSafe button to wear with pride, which will indicate to members that the employee they are working with has an additional layer of training and education to protect them from financial exploitation.
About Suncoast Credit Union
Suncoast Credit Union is the largest credit union in the state of Florida, the 10th largest in the United States based on membership, and the 10th largest in the United States based on its $15 billion in assets. Chartered in 1934 as Hillsborough County Teachers Credit Union, Suncoast Credit Union currently operates 75 full-service branches and serves more than one million members in 40 counties across Florida. As a community credit union, anyone who lives, works, attends school, or worships in Suncoast Credit Union’s service area is eligible for membership. In 2021, Suncoast Credit Union’s field of membership was expanded to include public K-12 teachers, college educators, and educational support staff from all of Florida’s 67 counties. Suncoast is passionate about community support. Since its founding in 1990, the Suncoast Credit Union Foundation has raised and donated more than $36 million to organizations and initiatives that support the health, education, and emotional well-being of children in the communities that the credit union serves. For more information, visit suncoastcreditunion.com or follow us on social media: Facebook, LinkedIn, Twitter, and Instagram.
