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What is financial abuse of older people – and how to take action

Monday 15 June marks World Elder Abuse Awareness Day, a time to raise awareness of an issue that is often hidden but increasingly affecting older Australians.  Financial abuse is the most common form of abuse experienced by older Australians. As our population ages, the importance of recognising and responding to this issue has never been greater. Over the past 40 years, the proportion of Australians aged 65 and over has doubled, and this trend is expected to continue in the decades ahead.  So, what is elder financial abuse, and what can you do if you suspect something isn’t right?  Financial abuse occurs when someone illegally or improperly uses an older person’s money, property or assets.  Sadly, the person responsible is often someone the older person knows and trusts. In many cases, it involves adult children, close family members, carers or friends. Because it can happen without the older person’s knowledge, financial abuse can be difficult to detect and deeply distressing.  Financial abuse can take many forms, including:  Coercion or pressure to change a will, sign over property or alter financial arrangements Unauthorised control over bank accounts or finances, limiting access to their own money Misuse of Power of Attorney, where decisions benefit the appointed person rather than the older person  Direct theft, such as stealing cash, cards or personal belongings  Banking exploitation, including using financial documents or accounts without permission How to spot the signs  Financial abuse often happens behind closed doors, but there are warning signs to look out for.  You might notice:  Unpaid bills or utilities, despite having sufficient income Large or unusual bank withdrawals or transfers A sudden lack of money for everyday essentials like food or medication Unexpected changes to wills, legal documents or financial arrangements  Confusion or uncertainty about financial decisions A new person taking control of finances or becoming overly involved If something doesn’t feel right, it’s important to trust your instincts and look a little closer.  What to do if you’re concerned  If you believe you or someone you know may be experiencing financial abuse, support is available and taking early action can make a real difference.  Call 1800 ELDER HELP (1800 353 374)  This free, confidential service will connect you to your local state or territory support service for advice and assistance.  Visit Compass  Compass is a government-funded website offering practical resources and information about elder abuse.  Contact your financial institution  If the situation involves bank accounts or financial pressure, speak to your bank immediately. The Mutual Bank has trained team members who can help protect accounts, including placing holds or reviewing access.  Review Power of Attorney arrangements  If a Power of Attorney is being misused and the older person has capacity, it can be changed or revoked. In NSW, the NSW Civil and Administrative Tribunal (NCAT) can investigate concerns and appoint independent decision-makers if needed.  Contact police in urgent situations  If there is theft, fraud, threats or immediate danger, contact your local police straight away.  We’re here to help  At The Mutual Bank, we’re committed to supporting the financial wellbeing of our Members and the communities we serve.  If you’re ever unsure about activity on your accounts or need support, please reach out to our team. We’re here to listen and help you take the right steps to protect yourself or someone you care about. 

Community

The Mutual Bank named Business of the Year at Hunter Region Business Excellence Awards

The Mutual Bank has been named as one of the Hunter Region’s leading organisations, winning both the prestigious Business of the Year title and the Financial and Real Estate Services category at the 2026 Hunter Region Business Excellence Awards. The dual recognition highlights the Bank’s longstanding commitment to delivering personalised, Member‑owned banking while supporting the financial wellbeing of local families, businesses and communities. Chief Executive Officer Mark Williams said the recognition was particularly meaningful given the Bank’s deep connection to the region. “This recognition reflects the trust our Members place in us every day,” Mr Williams said. “To be named Business of the Year, alongside winning our category, is an incredible honour and a testament to our people, our purpose and our connection to the Hunter. “Being recognised in a region like the Hunter – known for its resilience, strong relationships and community spirit – makes this achievement particularly meaningful for our organisation.” Established in 1888, The Mutual Bank has supported generations of Members, reinvesting profits back into better rates, services and local initiatives rather than paying dividends to shareholders. As a Member‑owned bank, its purpose has remained unchanged for more than 137 years: to champion the financial wellbeing of Members and contribute to stronger, more connected communities. Mr Williams said the awards belongs not only to the organisation, but to the people behind it. “This recognition is shared with our team, whose care and commitment show up in every interaction, and with our Members and community who continue to support us,” he said. Over the past 12 months, The Mutual Bank has delivered strong performance and community impact, alongside receiving national recognition for its home loan offering and continuing to make investment in local initiatives across sport, education, health and social support services. “Our focus has always been simple - to stand alongside our Members and back the region we’re proud to call home, and this award encourages us to keep doing exactly that,” Mr Williams said. As proud sponsors of the Business Woman of the Year Award, The Mutual Bank also congratulates Sarah-Jane Dunford, Founder of Riskology, on this well-deserved recognition and celebrates the outstanding contribution she is making to the Hunter business community.

Community

Helping local charities support people doing it tough this winter

The Mutual Bank Winter Appeal 2026 is now underway, inviting members, staff and the wider community to support local people doing it tough this winter. From 11 May to 19 June, donations can be dropped off at The Mutual Bank branches and Head Office to help local charities provide practical support where it is needed most. This year’s appeal supports seven local charities across the Hunter and surrounding region, helping individuals and families facing financial hardship, housing insecurity and other everyday challenges. From pantry essentials to warm winter items, every donation stays local and helps trusted community organisations offer care, dignity and hope.   Supporting local communities through winter Winter can bring extra pressure for households already juggling rising living costs. The Mutual Bank’s annual Winter Appeal gives the community a simple, practical way to help, whether by donating pantry staples, hygiene products or warm clothing for people who need support right now. For local charity partners, these donations mean more than everyday items. They help create comfort, relief and reassurance for people facing a difficult season. It is one more way The Mutual Bank continues to stand beside the communities it has proudly supported since 1888.   How to donate to the Winter Appeal Getting involved is simple. Add an extra item to your weekly shop and drop it into your nearest The Mutual Bank branch or Head Office collection point before 19 June. Most charity partners are requesting practical everyday essentials such as: Tinned and long-life pantry items Personal hygiene products Warm winter essentials such as gloves, beanies, jackets and blankets Donations collected through the appeal will support Dungog Shire Community Centre, Carries Place, Soul Hub, Our Circle Maitland, Maitland Region Community Support, Port Stephens Family and Neighbourhood Service, and Great Lakes Women’s Shelter. By supporting these local organisations, every contribution helps people across our region feel seen, supported and cared for. At The Mutual Bank, community support has always been part of who we are. As a member-owned bank, we are proud to back the people and organisations working quietly every day to make life better for others. This winter, we invite our community to be part of something simple, practical and genuinely meaningful. Visit your nearest The Mutual Bank branch before 19 June to support the Winter Appeal 2026. Find your nearest branch >>

The Mutual Bank backs Cessnock students

The 2026 Cessnock Mayoral Scholarships celebrated local students taking the next step in education and training, with support from community sponsors including The Mutual Bank.  The event was a reminder of what is possible when local organisations invest in opportunity close to home.  Cessnock City Council and local sponsors came together to recognise recipients whose study and training will help shape the region’s future.  The Mutual Bank was proud to sponsor one of this year’s scholarships and support a local student on their education journey.     Creating opportunities close to home  The Mayoral Scholarship Program supports Cessnock residents studying in industries important to the region, including education, hospitality, tourism, engineering, healthcare, mining, communications and manufacturing.  By helping cover course fees, textbooks, technology and study resources, the program eases some of the costs that can stand in the way of further education.   Since 2002, the program has supported 283 local students across the Cessnock community.    A story behind every scholarship  Among this year’s recipients was Jemma Murphy, who received The Mutual Bank’s sponsored scholarship.  This year, The Mutual Bank’s sponsored scholarship was awarded to Jemma Murphy, a vocational educator continuing her studies in education and financial services. Jemma said, “I feel incredibly grateful and honoured to have been selected as a recipient. Opportunities like this make a meaningful difference and provide invaluable support in helping students continue pursuing their educational goals.”  Her story reflects the broader impact of the program, helping build skills, confidence and opportunity across the region.     Backing our community for the long term   For The Mutual Bank, supporting the Mayoral Scholarship Program is part of backing stronger regional communities.   As CEO Mark Williams said at the presentation ceremony, “We chose to support the Mayoral Scholarship Program because we believe that uplifting individuals uplifts the whole community.”  He added that access to education helps build skills, confidence and career pathways, strengthening local families, employers and the future of Cessnock.  It is one more way local partnerships are helping students build their future close to home. 

Scam Awareness

Bank impersonation scams are on the rise

Important update: bank impersonation scam activity  We are aware of scam activity where callers are impersonating banks and posing as fraud teams to trick people into moving money or sharing security information.  We are actively monitoring the situation and working closely with our fraud teams to protect our Members.  What’s happening  Scammers may contact people by phone or text pretending to be from our fraud team. They often use believable personal information and create urgency to pressure people to act quickly.  They may ask you to:  Transfer funds to another account  Share one‑time security codes or passwords  Click links to “secure” your account  What you need to know  The Mutual Bank will never ask you to move your money  We will never ask for one‑time passcodes or passwords  We will not pressure you to act urgently over the phone or by text   If something doesn’t feel right, hang up.  What to do if you receive a suspicious call  Do not engage or provide information  Hang up immediately  Contact us using the phone number on our website  Think you may have been scammed?  Act quickly:  Contact your bank immediately to report the incident  Change passwords on banking, email and other online accounts  Get support  ID Support NSW | NSW Government  Report the scam to Scamwatch.gov.au. Reporting scams helps warn others and disrupt criminal activity.  Remember!   It’s important to remember:  We will never ask you to move your money to another account  We will never ask for one-time passcodes, PINs or passwords  We will not pressure you to act urgently over the phone or by text  If you’re ever unsure, please hang up and contact us using the phone number listed on our public website.  Watch: How bank impersonation scams work  This video explains how scammers impersonate banks and why their tactics can seem so believable.  Awareness is one of the most effective ways to protect yourself. By staying alert and knowing what to look out for, you can help keep your money and personal information safe. 

Fuel crisis driving new wave of scams

Australians are being urged to stay alert, with a rise in scams linked to increasing fuel costs. Scammers are taking advantage of cost‑of‑living pressures by posing as trusted businesses and offering fake fuel discounts, rebates or urgent payment requests. What’s happening? The Customer Owned Banking Association (COBA) reports an increase in scam messages that: Offer fuel rebates or discounts and ask for your payment details to process a refund Claim toll or delivery costs have increased due to fuel prices Ask you to pay a small “fuel surcharge” to release a delivery or restore access to an account While these requests may seem minor, they are designed to trick you into entering your personal or payment details into fake websites. How these scams work These scams usually arrive via text message or email and often look very convincing. They may: Use company names or logos you recognise Include links to websites that look legitimate Create a sense of urgency so you act quickly In reality, the goal is always the same - to capture your personal information, such as: passwords banking details credit card information How to protect yourself A few simple steps can help keep you safe: Do not click links in unsolicited messages about tolls, deliveries or fuel rebates Always go directly to the company’s official website or app instead Check the sender’s details carefully. Scam messages often come from unofficial email addresses or phone numbers Be cautious of offers that seem too good to be true, especially around discounts or refunds. Legitimate companies will never ask for sensitive information via unsolicited messages.  Watch out for fake fuel tracking websites  Scammers may also create fake websites that claim to help you track fuel prices or find the cheapest fuel.  These sites are often designed to collect your personal information, not save you money.  What to do if you receive a suspicious message:  Do not interact with it  Delete it and report it   If you think you have shared your details or lost money:  Contact your bank or financial institution immediately  You can also report scams to:  Scamwatch (run by the ACCC)  Even if you didn’t lose money, reporting scams helps protect others and stop these criminals. 

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