A Green Initiative for Your Bank and You!

A Green Initiative for Your Bank and You!

These days we see more banks taking steps toward a better environment. They are reducing their carbon footprint (that is how your day-to-day activities impact the planet) and going green. There are many ways to help the environment.  It’s astonishing how much paper is used on an average day at an average bank to print bank statements, reports, receipts, deposit slips, cardboard boxes, and other miscellaneous items. Many corporations are also donating money to environmental agencies and hammering down green policies. 

It’s not only your bank’s responsibility to go green. In a recent article on Mainstreet.com, a study stated that if banks could get 10% of all American households to switch from paper statements to online or email statements, we would be saving approximately 75,469,808 pounds of paper, 905,638 trees, and it would be like taking 162,861 cars off of the road.  Wow! 

As a customer, you can help out.  Setting up direct deposits is one way.  It’s more than just convenience. You also don’t have to worry about receiving a paycheck in the mail – which is how lots of fraud occurs. Another idea is to forgo the receipt after you make a bank transaction – either write it down in your checkbook register or check it out later online. As a customer, you can also sign-up for online banking and mobile banking. Again, not only is it the green thing to do, but it’s also super convenient!  Just remember, if you make these switches, stay on top of your account and watch for possible fraudulent activity and account errors.

Today, a few banks offer green rewards points to those that use electronic transactions with on-screen ATM receipts and e-statements. They are also offering “eco-calculators” for customers to assess their green impact on the environment.  As a bank customer, you should take advantage of these offers and rewards. For the first time in a long time, doing the right thing can get you an awesome reward!

What do you think? Have any other ideas about how to go green? Or how banks and other businesses should be changing daily activities to make a better impact on the environment? Let us know!    

Sources and Links:

http://www.silicon.com/management/cio-insights/2007/11/02/top-banks-get-serious-about-going-green-39169034/

http://online.wsj.com/article/SB121433267845200539.html

http://www.tdbank.com/green/tips.html

http://www.mainstreet.com/article/money/investing/how-banks-are-going-green

  • avatarPost by Cate on November 23rd, 2010

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