Credit Union Estatement

Chances are, if a bank customer or credit union member has a desire to see their statement (and notices if available) electronically, they already are.  That leaves the paper chasers that are content receiving an envelope in the mail every month.

Face it; eStatements are commonplace these days.  The paper chasing stalwarts that have not opted for electronic delivery by now will need some coaxing.  A compelling reason is needed and it will take a benefit of some kind to make them move.

Of course, my first recommendation is to deliver electronic documents that have value add in the documents that you are presenting electronically.  However, if your organization is not using Optria iStatements you need another approach.

In my Favorites folder, I have amassed a large number of links to articles that describe various incentives banks are using to convert the paper chasers to eStatements.  Below is one of the most recent articles added to my Favorites:

  http://www.netbanker.com/2009/10/bbt_pushes_online_statements_on_homepage.html.

This article, like most of the others, suggests financial incentives.  Common financial incentives include cash bonuses, sweepstakes entries, higher interest rates, lower fees and even toasters (actually, no bread warming devices were used in any of these articles). 

Many of the articles reference the importance of presenting the appropriate message, location of your message, and consistency in how you present it.  Remember, awareness, awareness, and awareness!

Paper Chaser in "Rap Speak" is a person that chases money.  If it takes $20 or $30 for each account to get your paper statement chasing customers to convert to electronic statements and notices, so be it.  The long-term return will be worth it.