Colorado PERA and Westerra Credit Union Team up on Financial Fraud
2025-04-17T11:13:05DENVER—Providing retirement security and protecting Coloradans from financial fraud are top priorities for Colorado Public Employees’ Retirement Association (PERA) and Westerra Credit Union (Westerra). The two financial institutions are working together to help Coloradans identify and prevent financial fraud through financial literacy webinars.
“Colorado PERA provides retirement and financial security to approximately 1 in 10 Coloradans and it is important that we provide key tools to our mutual membership to help them avoid financial scams,” said Andrew Roth, PERA CEO/Executive Director. “This collaboration helps our members identify fraudulent financial schemes and take actions to protect themselves.”
According to the Federal Bureau of Investigation, scams targeting individuals aged 60 and older caused over $3.4 billion in losses in 2023, with the average victim losing $33,915 due to these crimes. The FBI reported that investment scams cost elder victims more than $1.2 billion in losses.
“Financial fraud can happen to anyone at any age, but criminals are increasingly targeting older Americans whose retirement savings can be devastated when they fall victim,” said Cynnomon Gordon Director Fraud Operations for Westerra Credit Union. “This joint effort with PERA leverages our shared financial literacy resources and educational staff to help our memberships recognize financial scams, take steps to protect themselves and know what actions to take if they become victims.”
Westerra and PERA have a long history of offering financial literacy to their respective members. Westerra provides comprehensive financial literacy programs and career development workshops to credit union members and public-school students across the communities it serves. PERA, through its Member Education Division, provides classes throughout Colorado on creating budgets, retirement planning, retirement savings, and transitioning into retirement. The joint financial fraud webinars build on these traditional offerings to increase awareness around financial crimes targeting individuals over age 60. The webinars are designed for retirees and those caring for aging family members.
Highlights of the financial fraud webinars include:
- Identifying the most common financial scams
- Tips to prevent financial fraud
- Steps to take if victimized
PERA members wishing to attend the financial fraud webinar on May 1st at 10 a.m. can register here.
Recorded webinars will be available online beginning May 9.
About Westerra Credit Union
Member-owned Westerra’s purpose – “We exist to teach one another to prosper” – supports individuals, families, and businesses. Westerra holds approximately $2 billion in assets, serves 110,000 members throughout the Denver metro area, and is one of only three credit unions recognized on Newsweek’s 2024 “Best Regional Banks and Credit Unions” list. For more information, visit WesterraCU.com. Federally insured by NCUA. Equal Housing Opportunity lender.
About Colorado PERA
Colorado PERA provides retirement and other benefits to over 700,000 current and former teachers, State Troopers, corrections officers, snowplow drivers, and other public employees who provide valuable service to all of Colorado. PERA is a vital and stable contributor to Colorado’s economy, distributing $4.55 billion in benefits in 2023 to more than 114,000 retirees who live in Colorado.
