North Carolina State Employees Credit Union SECU Krista

North Carolina State Employees’ Credit Union (SECU) Krista Kretzschmar, Trust Fiduciary Services Manager Stacy Ferrell, Trust Fiduciary Services Officer

Who is SECU? • Founded June 4, 1937 • Member-Owned Cooperative – NC State Employees and Immediate Family – “People Helping People” Philosophy • 2 nd Largest Credit Union in U. S. – – $36. 5 Billion in Assets 2. 2 Million Members Over 6, 200 Employees 260 Branch Locations

Mission Statement • To be the trusted provider of financial services to every eligible member and to enhance the value of their lives and financial well-being while maintaining our fiscal strength

Local Focus • Branch Resources – Over 70% of Members within 5 Miles of Closest Branch – Local Hiring, Training, Approvals • Community Involvement – Presentations, Education, Outreach • Know Our Members • Emergency Contact Information

Reporting Member Abuse, Financial Exploitation • 2012 -2013 – North Carolina law now requires financial institutions to report financial abuse of disabled and older adults • SECU centralized reporting – Branches contact Operations to discuss and report suspicious activity regarding older members – Reports to law enforcement and/or Adult Protective Services – Emergency Contact

Trust Fiduciary Services • The numbers in North Carolina • The population is aging • Nearly 10, 000 baby boomers turn 65 every day in America • In 2015, the 60+ age group in NC made up 15% of the state’s population • By 2019, there will be more people over the age of 60, than under the age of 18 • The numbers at SECU • Over 2. 2 million members and counting • Currently over 500, 000 members over age 60 • We value our older members for their wisdom and loyalty

Trust Fiduciary Services • Background • Development • How did we get here? • Guide, support and assist our members ages 60+ • Guidance through financial issues concerning older members • Support of members in times of need • Assistance with protecting assets

Trust Fiduciary Services • Milestones • Taught Money Smart for Older Adults curriculum in partnership with the NC Division of Aging and Adult Services • Implemented Emergency Contact system • Developed internal procedures for centralized reporting of Financial Exploitation of Older Adults • Developed statewide workshops to discuss the program and resources with our 6, 200+ employees • Developed OWLS Library of documents as a resource for both our members and employees • Progressing towards more proactive initiatives

Emergency Contact • Who is the emergency contact? – – Parent Child Friend Fiduciary (POA Agent, Personal Agent, etc. ) • Verify member contact information is up to date – Physical address and phone number • • Gather and enter information to the system Successful methods of collecting information When to call What to say

Potential Red Flags • Abuse – Unexplained bruises/fractures • Neglect – Self-neglect – Caretaker neglect • Financial Exploitation – Inconsistent account activity – Unrecognized/unrelated individuals show interest in members’ finances – Suspicious wire transfer requests

Branch Procedures When Noticing Red Flags • Trust Fiduciary Services’ Calls – Potential red flags – Gather information • Centralized reporting to APS, Law Enforcement, etc. • Internal Database – Statewide consistency – Building rapport with local agency offices – Follow-up reporting

The APS Report • Back office Trust Services Department reports to APS and/or Law Enforcement. • We can verbally provide APS and Law Enforcement details and account information. • Member records can be provided with the proper documentation – – Member Consent Form Court Order Subpoena Search Warrant

Database Reporting • After the call to APS – what now? • Additional information gathered • Subsequent reporting, when necessary • Benefits of centralized reporting

Proactive Training • Workshop training – Available statewide for all employees • E-Learning Course • Employee awareness – Identifying potential red flags – Calling Trust Services • Local Focus – Branches know their members

Document Library • • • Check Fraud Prevention Identity Theft/Fraud Prevention Guide Potential Red Flags Preventing Investment Fraud What to do if you are a Victim of Internet Fraud Wire Transfer Scams Tips for Talking with Aging Parents Power of Attorney Essentials Fiduciary Resource Guides (POA, Guardian, Representative Payee)

Proactive Solutions • Trust Representative Network • Statistics – 37, 000 member appointments sinception • Opportunity for members to establish a comprehensive estate plan

Estate Planning Essentials Program • Will – Family support – Corporate Executor • Trust – Incapacity planning – Corporate Trustee • Advance health care directives – Health Care Power of Attorney – Living Will • Power of attorney – Incapacity Planning • Will substitutes/beneficiary designations coordinated with overall estate plan

ESTATE PLANNING ESSENTIALS PROGRAM Trust Services offered through MEMBERS® Trust Company, a federal thrift regulated by the Office of the Comptroller of the Currency. Trust products are not credit union deposits, are not insured by the NCUA or any other federal government agency, are not obligations of or guaranteed by the credit union, MEMBERS® Trust Company or any affiliated entity, and involve investment risks, including the possible loss of principal. The material above is for educational purposes only and is not intended to provide legal or tax advice regarding your situation. For legal or tax advice, please consult your attorney and/or tax professional.

SECU – THERE IS A DIFFERENCE! Thank You!