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Testimony

Testimony of Sam Kunjukunju on Empowering Seniors Through Financial Literacy

  • Published April 15, 2026

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Chairman Scott, Ranking Member Gillibrand, and members of the Committee, thank you for the opportunity to testify for today's hearing entitled "Empowering Seniors Through Financial Literacy: Tools to Protect Savings, Prevent Fraud, and Promote Independence." My name is Sam Kunjukunju, and I am the Vice President of Consumer Education at the American Bankers Association Foundation (ABA Foundation), a 501(c)3 subsidiary of the American Bankers Association (ABA), which develops programs and resources to help banks support the financial well-being of their customers and communities.

The ABA Foundation provides the banking industry with free financial education programs. For more than a century, the Foundation has worked alongside banks of all sizes to help strengthen consumers' financial capability at every stage of life – particularly for older adults navigating retirement, digital changes, and financial caregiving.

Banks play a unique and essential role in supporting the financial health of older Americans. As trusted institutions deeply rooted in their communities, banks are often the first, and most consistent, financial touchpoint for older people and their families. Every day, bank employees help older customers manage retirement income, protect their savings, recognize and avoid scams, and adapt to an increasingly digital financial system. These relationships position banks not only as providers of financial services, but also as front‑line educators and protectors of financial security.

Recognizing the growing financial challenges facing older adults, the ABA Foundation develops and delivers educational tools and campaigns that empower banker volunteers to meet people where they are, whether in bank branches, senior centers, community organizations, or online. Through close partnerships with federal agencies, nonprofits, and local leaders, banks help reinforce financial literacy as a practical safeguard against fraud, financial hardship, and loss of independence in retirement. In the last three years alone, these efforts enabled more than 1,300 banks and 110,000 bank volunteers to reach over 6 million people with financial literacy presentations and resources, reflecting both the scale of industry commitment and the trust communities place in bankers.

We appreciate the Committee's focus on financial literacy as a cornerstone of financial wellbeing, and I welcome the opportunity to share how the banking industry, ABA, and the ABA Foundation are helping older Americans build resilience, protect their assets, and age with financial confidence.

Download the testimony to read the full text.

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Sam Kunjukunju

Sam Kunjukunju

Vice President, Consumer Education

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