DigitalMailer, Inc.
Greg Crandell, Executive Vice President
(Toll Free) 866.994.4900, ext.106
gcrandell@digitalmailer.com
HERNDON, Va. (April 18, 2012) – As the 42nd anniversary of Earth Day approaches – along with news from the U.S. Post Office that 50-cent stamps are “coming soon” – DigitalMailer is making the case to credit unions to embrace earth-friendly tactics such as eStatements.
“A few cents may not seem like much of a hike for ‘everyday’ mail, but when multiplied by the cost of mailing thousands of account statements to your members each month, it adds up fast,” said Ron Daly, President/CEO of DigitalMailer. “Credit unions can’t control the cost of postage, but they can control the number of mailings sent to members – and the number of members who receive their statements electronically.”
And as statements grow heavier to include additional types of transactions, the cost to mail paper statements will rise, possibly moving credit unions into the higher-priced, multi-ounce mailing category. eStatements can be a good solution, says Daly.
Earlier this year, DigitalMailer recognized Carter Federal Credit Union in Springhill, La.; Warren Federal Credit Union is Cheyenne, Wyo.; and TopLine Federal Credit Union in Maple Grove, Minn.; as its top eStatement leaders in the annual “Move It and Lose It” competition. Client credit unions were challenged to increase the number of members switching from paper to electronic statements using creative campaigns, simple usage changes and product coupling. Collectively, DigitalMailer’s credit union clients grew their eStatement users by 25 percent in 2011, resulting in real, bottom-line savings of nearly $1 million.
According to PayItGreen, a NACHA-led coalition promoting electronic billing and payments, eliminating paper statements has many positive effects on the environment, as well as financial benefits: reducing the use of paper and gasoline, lessening greenhouse gasses and waste water, and helping to preserve U.S. forests.
The group reports that if just 10 percent of U.S. households made the switch, nearly 7.5 million gallons of gas would be saved from not having to mail statements and payments. And the greenhouse gases prevented would be equivalent to preserving 535 acres of forest from deforestation.
“Helping members switch to eStatements is both pro-environment and pro-bottom line,” said Daly. “When you consider the cost of postage, printing and marketing materials, clients are saving approximately $8 to $12 a year per switched user, on average. And that adds up quickly the more members switch.”
DigitalMailer works with credit unions nationwide, incorporating technology to help them improve member communications and drive profitable growth. eStatements is one of its earliest product offering, and the firm estimates that its credit union clients have saved more than $23 million through its eStatement program over the past twelve years.
“That’s a lot of dollars and trees saved,” said Daly.
About DigitalMailer
DigitalMailer, Inc. (www.digitalmailer.com) helps financial institutions and businesses open their biggest branch – the virtual branch. Using its expertise and today's technology, DigitalMailer helps organizations connect with customers in the online channel they prefer, driving consistent, managed messages that are optimized for communication, convenience, efficiency and promotion of product growth. To learn more, visit DigitalMailer’s website or call (866) 994-4900.