Retire The Stamp Collection
Posted on Tue, Sep 06, 2011 @ 03:02 PM
Retire the Stamp Collection
We all know that the "paperless office" is far from reality, but if you are still printing and mailing notices to your members, you may be missing an opportunity to achieve substantial cost savings by going paperless.
Notices for non-sufficient funds, past payment due or stop payment are just a few of the many notices sent to credit union members and bank customers each day. Each notice that is converted to electronic presentment saves an average of $4.80 a year per notice per financial client. That might not seem like much, but multiply that by every member, for every notice, every time - and for the typical mid-market credit union or bank, the real dollar savings is close to a quarter of a million dollars per year.
You can "be green" by eliminating paper and postage. But you can "make green" with paperless notices as well. Online notices are well-suited to cross-sell campaigns for new car loans, mortgages, or lines of credit, for example that can generate untapped revenue. Best of all, unlike paper notices, online notices with transpromotional messaging get noticed -- typically generating a 15% conversion rate - and for most mid-market credit unions or banks this can mean a million dollar upswing in new services.
For more information about how you can easily convert your notices from "print and mail" to "point and click" and retire the stamp collection with Statement2Web, attend one of our free webinars.