Going Green for a bank or credit union can mean many things. Green construction, green funding, and green processes are just a few of these.
With only occasional references to green construction by banks and credit unions in the daily and weekly financial trades, the number of articles referencing eco-friendly building practices has increased over time. With a goal towards environmental consciousness and a long term energy cost savings, green construction is an investment in future savings.
Green funding and green investment, like many affinity based marketing programs, provide growth opportunities by attracting additional account relationships as well as imparting environmental responsibility.
For most institutions, green processes are where the initial emphasis is and has been. Whether this is in the establishment of internal recycle programs, creation of intranet based reporting and forms, promotion and resulting adoption of multi-channel product offerings, or simply implementing a lights-out policies for rooms that are not in use. Of all these, the biggest financial return is from multi-channel products; Internet and mobile banking, eBilling and ePayments, electronic statements, etc.
All of the green opportunities referenced here have the potential for financial reward, but in every case should be approached with open eyes. The cost of implementing green initiatives can be costly. As with any initiative, it is important to understand the ROI. Be sure that your investment does not exceed planned savings. With many green related services, costs can be underestimated, whether it is from incremental costs, on-going management of the solutions or services, or increased operational cost. These costs can weaken or eliminate any potential return on investment. Determine your adoption and growth potential, factor in all ancillary costs, and proceed with eyes wide open before implementing your green initiatives
Green practices are important for all of our futures. Do everything you can, but do it wisely.
With only occasional references to green construction by banks and credit unions in the daily and weekly financial trades, the number of articles referencing eco-friendly building practices has increased over time. With a goal towards environmental consciousness and a long term energy cost savings, green construction is an investment in future savings.
Green funding and green investment, like many affinity based marketing programs, provide growth opportunities by attracting additional account relationships as well as imparting environmental responsibility.
For most institutions, green processes are where the initial emphasis is and has been. Whether this is in the establishment of internal recycle programs, creation of intranet based reporting and forms, promotion and resulting adoption of multi-channel product offerings, or simply implementing a lights-out policies for rooms that are not in use. Of all these, the biggest financial return is from multi-channel products; Internet and mobile banking, eBilling and ePayments, electronic statements, etc.
All of the green opportunities referenced here have the potential for financial reward, but in every case should be approached with open eyes. The cost of implementing green initiatives can be costly. As with any initiative, it is important to understand the ROI. Be sure that your investment does not exceed planned savings. With many green related services, costs can be underestimated, whether it is from incremental costs, on-going management of the solutions or services, or increased operational cost. These costs can weaken or eliminate any potential return on investment. Determine your adoption and growth potential, factor in all ancillary costs, and proceed with eyes wide open before implementing your green initiatives
Green practices are important for all of our futures. Do everything you can, but do it wisely.
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