Dementia and Age-Friendly Banking: A Path to Independence and Financial Wellness
Facing the Challenge Together
Navigating financial matters can be daunting for people living with dementia, leaving them vulnerable to confusion, financial mismanagement, and elder abuse. The worry of safeguarding their financial independence and wellness can add undue stress to both people with dementia and their caregivers. To us at First State Bank, it’s not just about managing money; it’s about maintaining dignity and quality of life.
Implementing Dementia-Friendly Practices
At First State Bank, we know that training our banking center staff on dementia and age-friendly awareness is crucial for providing quality banking services to individuals living with the condition. We educate our team on the symptoms and stages of dementia, and how to effectively serve and support people living with dementia and their families. By investing in comprehensive dementia awareness training, we empower our staff to provide compassionate and effective care to those in need.
Enhancing Independence through Accessible and Understandable Banking Services
We believe in making financial services accessible and understandable–a challenging task for (some) individuals with dementia. Through visual aids, straightforward procedures, and personalized support from our trained staff, First State Bank is here to help alleviate the financial management burden.
First State Bank donated a bench in the Forget-Me-Not Park in St. Charles, MO, to honor individuals and families living with dementia.
Collaboration with Caregivers and Support Systems
Collaboration is key in building a dementia-friendly community. Based in St. Charles, MO, First State Bank is a proud participant in local initiatives like the Bev Roy Hope Foundation , contributing to the city of St. Charles, MO’s recognition as a dementia- and age-friendly city . Together, we’re building a network of support and education to ensure that our community remains a safe harbor for all.
Proactive Measures for Peace of Mind
Understanding the increasing threat of financial exploitation faced by the elderly, we’ve put robust security measures in place. Regular monitoring of accounts for suspicious activities, educating our clients on common scams designed to target seniors, and empowering them with tools like spending alerts are just the start. We encourage caregivers and clients to set up alerts for large withdrawals or unusual transactions within digital banking. Additionally, we educate customers on common scams targeting seniors, such as phishing emails and fraudulent phone calls. By staying vigilant and proactive, we can all help protect their hard-earned savings from falling into the wrong hands.
Navigating the Future with Confidence
First State Bank is here to guide you through setting up trusted contacts, understanding legal protections like guardianships or POAs, and ensuring the secure monitoring of your accounts. We’re more than a bank; we’re a partner in your journey toward financial wellness and independence.
We want all of our customers to feel comfortable at First State Bank. To find out more about our Dementia Friendly Banking program, please make an appointment with a banking center manager.
Eric Ebeling, AVP of Commercial Lending, and Jill Scott, business development officer and banking center manager, attended a Dementia Friendly St. Charles event.
Dementia and Age-Friendly Banking Resources
How do you spot financial abuse?
Financial abuse can often go unrecognized, but there are key signs to watch for.
- Sudden changes in a person’s financial situation, such as unpaid bills or missing money
- Signs of coercion or intimidation
- Lack of control over financial decisions.
It’s important to trust your instincts and speak up if you suspect someone is being financially abused. By staying vigilant and informed, you can help protect yourself and others from falling victim to this harmful form of abuse. If you or your loved one suspects financial abuse, please call our Customer Care team at 636-940-5555 Monday-Friday, 8:30 a.m. – 5 p.m., and Saturday, 9 a.m. – 12 p.m. CST for assistance.
How do I set up a "trusted contact" to help protect a First State Bank account?
As we age, we can often encounter unexpected financial challenges such as fraud, a health crisis, or a partner’s or spouse’s death. Setting up a family member or close friend as a trusted contact can provide First State Bank with someone that could help in emergencies or to:
- Help monitor your account
- Address possible financial exploitation
- Assist when the account holder is unreachable or incapacitated
We care about the financial well-being of you or your loved one. If you have concerns about privacy, family dynamics, maintaining your financial independence, or something else, please call our Customer Care team at 636-940-5555 Monday-Friday, 8:30 a.m. – 5 p.m., and Saturday, 9 a.m. – 12 p.m. CST for assistance.
How do I learn more about guardianships, principals, or power of attorneys (POA) for First State Bank account holders?
First State Bank account holders can set up a guardianship, principal, or POA. There is a legal approval process based on the state where you reside. To learn more, contact a banking center manager or call our Customer Care team at 636-940-5555 Monday-Friday, 8:30 a.m. – 5 p.m., and Saturday, 9 a.m. – 12 p.m. CST.
How do I set up debit card monitoring and alerts?
Our customers can keep tabs on their debit card spending by setting up spending limit notifications that provide real-time alerts when limits are exceeded.
To report a lost or stolen debit card, please call our Customer Care team at 636-940-5555 Monday-Friday, 8:30 a.m. – 5 p.m., and Saturday, 9 a.m. – 12 p.m. CST. For assistance after hours, please call our Debit Card Hotline at 1-800-472-3272. After calling the hotline to cancel your current debit card, please call Customer Care the following business day to order a replacement card.
For additional questions, call our Customer Care team at 636-940-5555 Monday-Friday, 8:30 a.m. – 5 p.m., and Saturday, 9 a.m. – 12 p.m. CST.
