The Rise of Paperless

We’ve talked about the benefits of switching out your paper brochures to digital documents, but would you ever consider doing away with direct mail in favor of strictly email marketing? How about turning your branch completely paperless?

As more and more financial institutions move toward digital marketing, paperless banking is becoming less of an “if” and more of a “when.”

This year, nearly 2,100 credit unions signed on to CUNA’s Go Paperless campaign in an effort to save over 750,000 pieces of paper annually. Realizing the environmental impact of this switch, CUNA agreed to donate $5 to the National Credit Union Foundation for every credit union that signed on.

In El Segundo, California, Xceed Financial Credit Union began implementing incentives to urge members to sign up for eStatements and saw enrollment rise by 20%, illustrating the importance financial institutions are starting to place on growing an email list.

All these examples are indicative of a giant stride towards paperless, but that still doesn’t mean paper is going away. In fact, studies show that it creating a campaign that combines both digital AND traditional mail can be the most effective way to capture attention.

What are your thoughts? Are you taking any steps to go paperless? Have you seen any benefits from it yet?

Sources:
http://www.cutimes.com/2013/07/15/xceed-financial-reports-e-statement-boost
http://www.cunamutual.com/

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