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6 Reasons to Switch to E-Statements

Are you constantly dealing with a barrage of junk mail that clogs up your mailbox? Drowning in papers needing sifted through? Are you always afraid to throw out any paper from your financial institution, fearful that you’ll be throwing sensitive material into the trash and making it an easy steal for would-be scammers?

If this sounds familiar, you may benefit from switching to electronic account statements.

Electronic statements (E-Statements) are similar to paper statements, except for the fact that they’re delivered electronically. At the end of each statement period, which is generally monthly for checking accounts and quarterly for basic savings accounts, you’ll receive a notification from 705 Federal Credit Union informing you that your statement is ready to view through the online banking portal, app, or by downloading from a secure site. Once you access the E-Statement, you’ll find it has all the information you’re used to receiving in your paper statements. You can also access your E-Statement by logging into your online banking site or app at any time throughout the month.

Quick, convenient and clutter-free, E-Statements are the way of the future. Here are six reasons to consider switching to E-Statements.

 1. Check your accounts at a glance

With E-Statements, there’s no need to wait for your monthly statement to arrive in the mail. Just a few clicks and you get your account statement at any time, from anywhere, using the mobile device of your choice. Some financial institutions also offer members the option of signing up for financial alerts, such as a warning when your account is running low and in danger of being overdrawn. With E-Statements, managing your accounts is easy.

2. Clear out the clutter

Why bother with piles of paperwork when you can access your accounts online? It’s neater, cleaner, and helps cut down on the correspondence you have flooding your mailbox. You’ll also save time sorting through papers when you can find your last account cycle balance with just a few quick swipes.

3. Keep your information safer

No matter how careful you are with papers containing sensitive data, there’s always a chance you can miss something and it’ll end up in the wrong hands. It can also be a pain to keep track of every incoming piece of mail and to dispose of it properly. With E-Statements, you’ll never have to worry about losing a paper that contains confidential banking information, or mistakenly tossing it into the trash where it can be easily accessed by identity thieves.

Some people are wary about sending sensitive information online and are fearful that an E-Statement can easily be hacked. However, you can access your account balance online with confidence, knowing that 705 Federal Credit Union uses several layers of protection to keep your information absolutely safe.

4. Monitor your accounts frequently for fraud

When you have instant access to your accounts throughout the month, it’s a lot easier to check for signs of fraud. Plus, when you spot the fraud sooner, you can take steps to mitigate the damage earlier and have a better chance of a full recovery.

5. Eco-friendly

When you choose to receive your monthly account statements electronically, you’ll be doing the environment a favor. Less paper statements means less paper waste and fewer trees getting cut down for something that will ultimately be tossed. Go green for the environment with E-Statements!

6. Safe and secure storage

Filing cabinets are so last century. With E-Statements, you’ll never stress about misplacing your account statements again. Your online banking portal or app acts as a convenient and secure filing cabinet, storing your account statements for you to access as needed.

Ready to make the switch to E-Statements? Signing up is easy. Log into Online Banking to sign up, today!

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