Iona’s Money Management Program launched in 2015 to address this complex question: How do we support older adults in navigating financial responsibilities and protecting their funds from scams and exploitation?

Monthly Bill Pay Assistance

One of the first signs of cognitive decline is difficulty managing personal finances. We support older adults vulnerable to exploitation by helping them with decision-making around their financial responsibilities. We act as a safeguard by reviewing accounts, addressing neglected bills, and helping them to avoid utility shut offs, possible evictions, and abuse.

Organizational Representative Payee

For people without a trustworthy family member or friend — and have cognitive impairment that renders them completely unable to manage their finances — Social Security Administration can appoint us to receive the person’s monthly Social Security benefit, pay all their bills on their behalf, and create weekly budgets.

Outreach and Education

We provide financial literacy workshops and presentations on critical topics like telephone, Social Security, or holiday scams; as well as online banking and Internet and email safety to ensure individuals can identify and avoid exploitation. Many classes are offered in partnership with Capital One Bank and the DC Department on Aging and Community Living.

Part of what makes money management work so challenging is its intensity. By nature, it is deeply time-consuming and personal. Iona social workers:

• Make regular home visits and review mail
• Organize finances and provide payment reminders
• Accompany clients to the bank or ATM
• Read financial statements line-by-line with expert thoughtfulness
• And more

Questions?

To be eligible, clients must be age 60 or older, live in any of the city’s eight wards, have memory loss, and have an annual income of less than $54,250. To learn more please call us at 202-895-9448, or use our contact form to send an email inquiry.