Have you ever wondered how the way you bank impacts the environment? It’s likely a topic that has flown under your radar. However, there are many simple, yet effective money moves you can incorporate into your daily life that will help Mother Nature and make managing your money easier.
As technology continues to advance, new and efficient tools are streamlining banking and helping the environment simultaneously. From e-statements and digital banking to paperless payments and deposits, simple changes to how you bank can have a profound and lasting impact on future generations.
In this article, we’ll highlight seven ways you can bank greener while streamlining your finances.
Tip #1: Switch to e-Statements
The credit union must legally issue account statements to all our members. This process is extremely costly – both financially and environmentally. However, you can reduce paper waste (trees) and transportation costs (fuel pollution) by simply enrolling in e-statements.
Instead of receiving a paper statement monthly, you’ll receive it electronically as soon as it’s available. With e-statements, you can access previous months’ statements 24/7 via digital banking and save copies to your personal devices. Plus, you still have the option to print a copy at home if needed.
In addition to never having to worry about your paper statement being lost in the mail, enrolling in e-statements saves the credit union money – providing funds that can be spent elsewhere to enhance your overall membership benefits, such as new services or lower loan rates.
Tip #2: Reduce the Use of Paper Checks
Another way to cut out paper waste is by reducing the use of physical checks when possible. Instead, choose cash or digital payment options. Traditional checks are becoming less popular with each year that passes as more convenient, instant payment methods become widely available. If you’re a member of the younger generations, you’re likely ahead of this change and rarely use paper checks.
One of the easiest ways to implement this tactic is to enroll in Direct Deposit through your employer. Instead of issuing a paper check on paydays, your paycheck will automatically be deposited into your account. You can even use Direct Deposit with government payments, such as Social Security.
Tip #3: Deposit Checks Remotely
If you don’t have the option to use direct deposit at your workplace or receive a check for a different reason (e.g., birthday gift, insurance payout, etc.), deposit your check with Mobile Deposit. This tool is available via Mobile Banking and allows you to take a picture of the check and deposit it instantly into your credit union account.
Mobile deposit is quick and secure, and it eliminates a trip to the credit union or nearby ATM – saving you time and reducing transportation emissions.
Tip #4: Transition to Digital Banking
Banking greener is about more than just going paperless! You can also use our digital platforms (Online & Mobile Banking) as another way to help the environment. As much as we love seeing our members in person, it’s no secret that skipping the trip to a branch saves you time and gas money.
Our enhanced digital banking allows you to conduct most routine tasks from anywhere at any time. You can check your balance, transfer funds, pay bills, make loan payments, send secure messages, and much more.
Tip #5: Shift to Digital Payments
Going green can be as easy as reaching for your phone rather than your wallet. Choosing contactless payments or digital wallets over cash or cards not only offers a sustainable option but also allows you to speed up transactions.
Using digital payments when available reduces the need for paper currency, coins, or plastic cards – which all require energy-intensive processes to produce and distribute. E-payments also cut down on the need for paper receipts and other printing costs.
Digital payments aren’t just better for the planet – they’re also more secure and convenient for you!
Tip #6: Give Digital Gift Cards
Along with digital payments, you can extend this further into gift-giving! When birthdays and holidays roll around, consider going digital. Opting for e-gift cards eliminates the need for physical versions – reducing plastic waste and decreasing the environmental impacts of manufacturing cards and mailing them to friends and family.
As an extra bonus, most digital gift cards allow you to personalize your gift with a unique image or meaningful message. This thoughtful touch can make special occasions even more memorable. It’s a win-win!
Tip #7: Adopt Online Bill Payments
Most businesses today allow you to make payments online. This process reduces the need for paper checks, buying stamps, and mailing your payment. It also provides peace of mind because you receive confirmation of your payment, avoid potential lost or stolen mail, and possible fraud.
You can go one step further to simplify your finances by using our Online Bill Pay service. With this tool, you can instantly pay bills, lenders, and more directly from your account through Online or Mobile Banking. You can even set up recurring payments and payment reminders – helping to streamline budgeting and ensuring you’re never late on a payment.
We’re Here to Help!
Every little bit we can each do to help our environment is a solid win for the planet and future generations. While “green banking” might not have crossed your mind before, now you know that even minor changes in how you manage your finances can lead to positive change. Whether it’s enrolling in e-statements or paying bills online, every green action adds up.
If you want to learn more about our green services like e-statements, online bill pay, or direct deposit, we’re happy to help. Please stop by any of our convenient branch locations or call 800-782-4899 to speak with a team member today.
Each individual’s financial situation is unique and readers are encouraged to contact the Credit Union when seeking financial advice on the products and services discussed. This article is for educational purposes only; the authors assume no legal responsibility for the completeness or accuracy of the contents.