Harrisburg, PA (April 3, 2019) - In support of Earth Day, April 22, Pennsylvania's largest credit union, PSECU, is encouraging its members to contribute to national environmental sustainability efforts by selecting to receive electronic, rather than paper, banking statements.
"By making small changes to our lifestyle, we can all contribute to protecting the environmental health and vitality of the communities we share. Selecting to receive electronic communications rather than print alternatives, whenever possible, is a perfect example of how that can be done," said PSECU Board Chair Jodi Lynne Blanch. "Here at PSECU, our more than 450,000 members have the opportunity to enroll in e-Statements."
With PSECU paper statements averaging four pages, by opting for e-Statements, members can each save approximately 48 sheets of paper a year.
"Currently, around 195,000 of our members are receiving e-Statements from us, but we're still mailing out nearly 255,000 each month, and that's something we hope to see change. Consider the impact we'd have if all our members would opt into electronic statements. Together, we'd save more than 12.2 million sheets of paper each year," Blanch explained. "Stacked up, at an average thickness of 4/1,000 of an inch per sheet, the paper we could save would soar to 4,080 feet. To put that into perspective, it's the height of 15 Pennsylvania State Capitol buildings, one on top of the other."
A decreased impact associated with the packaging and transporting of physical statements are additional ecological benefits of choosing electronic statements.
To go green by enrolling in e-Statements, PSECU members should log into online banking, click on "e-Statements," and select "Switch." The member will be required to verify their email address and review and accept the Terms & Conditions to enroll. By enrolling, the member will no longer receive paper statements, and instead get an email notification when the statement is available for viewing. It is also important to note that a member must enroll in PSECU's e-Statement service to stop receiving paper statements - simply viewing statement PDFs within digital banking does not affect statement preferences.
Cost savings incurred through PSECU's environmental conservation efforts are reinvested to better serve its members and its local communities.
"As a credit union, we're a financial cooperative. That means that our members are our owners, and as such we aim to serve their best interests in all we do," Blanch said. "The money that we save through the green aspects of our business operations are shared with our members in many ways – through low- and no-fee products, competitive loan rates, or innovative new service offerings. We also take great pride in supporting local nonprofit organizations and charitable initiatives that serve causes across Pennsylvania, including several focused on environmental issues, and benefit PSECU members and nonmembers alike."
Individuals interested in becoming a PSECU member and taking advantage of its forward-thinking, environmentally friendly business model, which favors a digital-first approach to providing high-quality products and services over more standard branched banking, should visit psecu.com/join to learn more.
"We encourage anyone interested in using PSECU's digital-first banking and thereby contributing to our environmental stewardship efforts to join us," added Blanch. "You're likely eligible for membership - even if you don't think you are - and by working together, we can make a big impact."
Opened in 1934, PSECU was founded by 22 ordinary people who made an extraordinary commitment to each other: To create a financial institution where pooled resources benefit all members. Today, we are a full-service credit union serving more than 450,000 members and have over $5 billion in assets. As a not-for-profit financial institution, our goal remains to help our members and their families achieve a better life. For more information about PSECU, visit psecu.com. View our Community Report Card to learn how we contribute to the greater good.
Opened in 1934, PSECU was founded by 22 ordinary people who pooled $90 and made an extraordinary commitment to each other: To create a financial institution where collective resources benefit all members. Today, PSECU continues that legacy as a leading full-service credit union managing more than $5.5 billion in assets and offering its over 450,000 members convenient anytime, anywhere digital banking options. PSECU was named a 2019 Best-In-State Credit Union by Forbes Magazine and a Best Credit Union of 2020 by GOBankingRates. For more information about PSECU, visit psecu.com. View our Community Report Card to learn how we contribute to the greater good.