How many people actually use paper statements? The number might shock you. According to a poll from creditcards.com, 54 percent of respondents still prefer to get a paper statement each month. These numbers change as you break them down by age group with 6 percent of Americans between the ages of 18-25 receiving their monthly statements by mail. If you haven’t gone paperless, what’s keeping you? E-statements provide another level of security, take up less storage space, and most importantly offer a more convenient way to view your financial documents.
Protect your information
Anyone can walk up to your mail box and swipe your paper statement. You could a P.O. Box to prevent thievery but that would mean driving to the post office any time you wanted to check your mail. That’s an extra cost for the box and gas for your vehicle. Why not have your statement delivered directly to your computer or mobile device? In order to access your e-statements, you are required to login to online banking. Our two step verification provides an extra level of security that your mail box can’t offer.
Statements at your fingertips
Are you interested in security? What about saving some time and less hassle? E-statements come directly to your device. You don’t even have to leave the couch. When the next snowpocalypse comes thundering out of the north, you won’t have to squeeze into those boots and trudge to the mailbox for your statements. With e-statements, the days of digging through stacks of paperwork and thumbing through files are behind you. E-statements are conveniently arranged by date and stored in online banking for easy browsing.
We ran the numbers. It costs roughly $420,000 for postage alone to send out paper statements. As a credit union member, you are a part owner of this credit union. When the credit union saves money, we pass those savings along to you in the form of higher dividends and lower interest on loans. Think about how much you’d save on an auto loan if we were able to cut out $420,000 a month in costs.
According to the Environmental Protection Agency, the average American household uses the paper equivalent of a 100-foot-tall Douglas fir tree. E-statements eliminate paper and saves trees. That makes the environment happy.
Are you ready to make the switch to paperless? Sign in to online banking and click on the e-documents tab. Stop cluttering up your space with all those paper statements and save a tree with just a few simple clicks.