$1 Million Reasons to Use e-Statements

RALEIGH, N.C. – State Employees CU is giving is members a million reasons to convert from paper to electronic statements–$1 million reasons exactly. Members converting to the credit union’s e-statements from now until the end of February could win up to $25,000 as part of the $13 billion credit union’s Million Dollar Sweepstakes, which will award 100 members $5,000 each and 20 members $25,000. The idea for the million-dollar sweepstakes came from SECU’s 1,500-member voluntary advisory board, which sees it as a way to increase member convenience, cut costs for the credit union and save paper, according to Leigh Brady, marketing director for SECU. Delivery of each mailed monthly statement costs more than $1 , including paper, handling and postage. Credit union executives figure that if 15% of their 675,000 members with checking accounts switch to e-statements SECU will recover the cost of the sweepstakes. The initial response has been positive, said Brady, with twice as many members switching to e-statements last week, as in the entire month of December.