WOODLAND, Calif. -- Yolo Federal Credit Union was recently honored by the Yolo County Board of Supervisors for its leading role in protecting against financial elder abuse.
The legislation by Assemblywoman Lois Wolk, which took effect Jan. 1, 2007, will help prevent financial elder abuse by making employees of banks, credit unions and other financial entities mandated reporters of suspected elder abuse. Assemblywoman Wolk thanked Yolo FCU for being the first financial institution to endorse the legislation and leading the way for others to follow.
"Our elder citizens can be the most vulnerable among us and many times lack the financial resources to recover from a loss of savings. Among our more than 18,000 Yolo County members are many elderly who are at risk of being taken advantage of by unscrupulous people. Thanks to Assemblywoman Wolk and her legislation, we now have a statewide system and process in place that will help protect those at risk," said Yolo FCU CEO Cylde Brooker.
Mariko Yamada, chair of the Yolo County Board of Supervisors, presented awards to both Assemblywoman Wolk and Brooker for their important action.