Supporting life’s later chapters: the case for golden-age financial literacy
But is anyone paying attention to the risks? Not young adults.
Movie still from IMBD
In one of the most iconic scenes from Steven Spielberg’s Catch Me If YouCan (2002), Leonardo DiCaprio’s character, Frank W. Abagnale Jr., parades through an airport in a Pan Am pilot uniform with sunglasses on and flight attendants in tow. It’s a dazzling performance of confidence and authority—except, of course, it’s all fake. Abagnale is a teenage con artist, charming his way into cashing fraudulent cheques and deceiving institutions at every turn.
On screen, it’s a comedy. In real life, it’s something far more serious—especially for older adults, who are increasingly targeted by financial scams that are just as slick, just as convincing, but far more damaging.
Fraud is only part of the picture. Seniors are vulnerable not just to bad actors, but to a rapidly evolving digital world that wasn’t built with them in mind. Many were never taught nor learned the basics of personal finance and are now facing complex decisions about retirement, healthcare and legacy planning.
For credit unions, this presents both a responsibility and an opportunity.
A generation that needs—and deserves—support
Today’s golden-age members aren’t a single type. Many are still working—some by choice, others out of necessity. Some are thriving in retirement, others are preparing for it. Some are stretching pensions to make ends meet. They’re active, diverse and facing a wide range of financial realities—from becoming empty-nesters to managing long-term care, estate planning and supporting younger family members.
This group is a core part of every credit union and community. On average, they are about a decade older than the general population—a demographic skew that gives credit unions both a natural advantage and a clear mandate.
Older members tend to favor bricks-and-mortar banking, trust face-to-face interaction over digital interfaces and value clarity over complexity. They’re also one of the wealthiest generational cohorts, yet many lack confidence in managing their finances as the landscape around them continues to evolve.
The right resource at the right time
That’s why we recently launched It’s a Money Thing Golden Years Bundle is the right product at the right time. It’s a ready-made educational series designed specifically for people approaching or living in retirement. Each topic includes an animated video, infographic, handout, presentation, articles and social media graphics—offering financial guidance that’s engaging, story-driven and designed to simplify complex topics with humor and clarity. The bundle can be licensed on its own or added to any It’s a Money Thing membership plan, making it easy for credit unions to integrate into their education strategy.
The Golden Years Bundle also pairs well with fraud-specific content available in the full It’s a Money Thing library. Modules like How to Spot Scams and Foiling Identity Theft give credit unions even more tools to help older members protect themselves from deception. We've also written extensively on this subject, including a 2024 article about how credit unions can protect senior citizens from financial abuse.
Credit unions have the human touch—and the community’s trust
Credit unions are built for high-trust, high-touch service—exactly what seniors want. From workshops at community centers to in-branch conversations, they can meet older members where they are—literally and figuratively. Whether it’s a fraud-prevention seminar or a one-on-one budget check-in, the message is clear: we see you. We care. We’re here to help. At every stage of life.
Education now, stewardship later
For credit unions, financial education for older members is also a strategic move. Older adults hold the majority of North America's personal wealth. Over the next two decades, approximately $84 trillion in the U.S. and $1 trillion in Canada will change hands, primarily from Baby Boomers and the Silent Generation to Millennials and Gen Z.
Credit unions that earn the trust of older members are well-positioned to retain that wealth as it moves down the family tree. That trust starts with action—education, support and relationships.
Financial literacy doesn’t just protect assets. It builds bridges between generations, strengthens relationships, and positions credit unions as wise stewards—not just service providers.
A win-win for everyone
The return on investing in senior-focused financial education is both emotional and economic:
For seniors: confidence, clarity and protection from fraud and misinformation
For credit unions: deeper relationships, positive brand perception and greater member loyalty
For families: reassurance that their loved ones are financially informed and supported
And with a professionally developed financial program like It’s a Money Thing, credit unions don’t have to start from scratch. It’s all included—videos, support materials and content that’s engaging, story-driven and designed to simplify complex financial topics through humor and animation.
Start small. Start now.
Summer is the ideal time to pilot something new. With fewer competing priorities, credit unions can launch a workshop, test-drive the Golden Years Bundle, or explore partnerships with senior-focused community organisations.
This isn’t about launching a major campaign. It’s about building meaningful relationships—at the branch, in the community or wherever your older members gather. All it takes is the right tools and a willingness to listen.
Final word
We laughed at Catch Me If You Can, but behind the humor is a real-world lesson: appearances deceive, and trust is everything.
Credit unions have the trust. Now they have access to the tools. Let’s work together to ensure our seniors don’t just manage their finances—they thrive, with dignity, protection and purpose.
Tim McAlpine is the CEO of Currency Marketing. He is best known for developing the It's a Money Thing Financial Education Program that credit unions from around North America are using to connect with new young adult members. He is also a driving force behind CUES Emerge, an emerging leader program that combines online learning, peer collaboration and an exciting competition component.
