Credit Unions Lose - and Win - as DigitalMailer's Biggest Losers

Credit unions recognized for losing paper and postage costs with eStatements

Herndon, Va. (Jan. 11, 2010) - DigitalMailer has named its "Biggest Losers" for 2009 - credit unions that have developed successful eStatement enrollment programs. Working with DigitalMailer, 21 credit unions guided more than 17,000 members to make the switch from paper to online statements - a boost for their wallets and the environment. The campaign, which lasted four months, resulted in the credit unions collectively saving $102,474 or more from reduced paper and postage costs.

"If these credit unions' members stay with them for five years, that's a half million dollars - and a lot of trees - saved," said Ron Daly, president/CEO of DigitalMailer. DigitalMailer's "Biggest Losers" were identified using a formula that looked at the number of new enrollments and the percentage increase in enrollment volumes. Six credit unions were named runners-up in the program:

10. TopLine Federal Credit Union (Maple Grove, MN)
9. Paragon Federal Credit Union (Montvale, NJ)
8. 1st Community Credit Union (Sparta, WI)
7. Palmetto Citizens Federal Credit Union (Columbia, SC)
6. Decatur Earthmover Credit Union (Decatur, IL)
5. Jersey Shore Federal Credit Union (Northfield, NJ)

Honorable mention went to Town of Hempstead Employees Federal Credit Union (North Baldwin, N.Y.), which brought in hundreds of new users using the One-Click Enrollment email campaign. These efforts earned the credit union a $50 gift card.

Third place was awarded to Hudson River Community Credit Union (Corinth, N.Y.), which increased enrollments by 39 percent using two cycles of One-Click Enrollment and the added incentive of $100 cash with each promotion. For their work, the credit union also earned a $50 gift card.

The second place winner was ABCO Federal Credit Union (Willingboro, N.J.). Using iPods and Wii consoles as incentives to members, ABCO saw its eStatement enrollments grow by 224.13 percent. That earned the credit union a $100 gift card.

Taking top honors and earning a Wii console and Wii Fit was Gulf Coast Federal Credit Union (Corpus Christi, TX). By making eStatements the default option for online-banking members, the credit union saw a 720 percent increase in eStatement enrollments - and a bottom-line savings of $14,000 per year.

According to Daly, every new member enrolled in eStatements saves a credit union approximately $0.50 in statement costs, or $6 per year. And while that may not sound impressive on the surface, it can add up quickly when multiplied by large numbers of members, he said.

"In a challenging economy where credit union budgets and margins remain tight, eStatements offer an easy and effective way to positively impact the bottom-line," said Daly. "They can be a simple part of making credit union operations more efficient."

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About DigitalMailer, Inc.

DigitalMailer, Inc. is a leading provider of digital communication services to the financial industry. With over 160 credit unions across the nation, they provide their clients the power to reach their customers across multiple digital channels. A leader in building powerful online connections, the firm combines its technology know-how and online communication tools to create an affordable way for clients to drive profitable growth. With over 160 credit unions across the nation, the company's flagship eStatement product has saved those clients over $15 million in paper and postage expenses all while keeping them connected to their membership and helping them deepen their online relationships. For more information, contact DigitalMailer at (866) 994-4900, or visit www.digitalmailer.com/notices.html