The eStatement dilemma: 3 tips on increasing eAdoption through member documents

eStatements typically provide an average of 50%-60% cost savings for financial institutions, and also add value to the member online experience when done correctly. While these statistics justify the necessity for eStatements, there are always new ways to increase your eAdoption and ROI through member-critical document composition and delivery. Below are some tips on how to drive eAdoption through member documents:

  1. Don’t Let Your Home Banking be the Sole Determinant of eAdoption

Approximately 60% of credit union members have non-transaction oriented accounts such as loans, CDs or simple savings accounts. Typically, it is difficult to convert the average member to eStatements due to the perception that they do not need to access their credit union’s online Home Banking solution. That is where the power of your website comes into play, coupled with ePresentment. If an electronic document can be accessed and viewed securely from the credit union’s web site without going through Home Banking, the potential audience for eStatements and other electronic documents increases beyond Home Banking members. This adds value to the overall member experience without requiring them to sign up for Home Banking. In addition, if your credit union is charged for each Home Banking user, the members who opt out of paper documents through ePresentment are less costly.

  1. Provide Consistency in Electronic Document Formatting

The first key to a successful conversion from print to electronic is to provide an exact replica electronically that is offered in print and mail. Credit union core software packages generally provide only a rudimentary print layout format of the statement for use in eStatements, thus creating a stale, non-user-friendly document that does not match the printed, more professional version. Providing different formats for print and electronic creates reluctance in going paperless. A very important reason to offer online statements in the same format as printed is to provide credit union members with a true legal document online rather than a Home Banking transaction print-out. Because members require a legal version of their statement in the event of a loan application or tax audit, providing the statement in the same format will encourage eAdoption.

  1. Make eStatements the Default

Yes, there are some documents such as notices that absolutely have to be mailed out, but for statements and other documents that aren’t necessarily required to be sent via snail mail, a good option would be to set electronic delivery as the default option on new accounts. “When we switched cores in 2009, we made a big push toward eAdoption on new accounts opened by setting the default statement option to electronic,” said Sandy Gaskamp, Operations Support Manager at University Federal Credit Union. “We now have an 86% eAdoption rate with over 205,000 members, and they all seem to be enjoying the advantages of going paperless.” This not only enhances the member experience, but also saves on print production and postage costs. If you do decide to make eStatements the default option on new accounts, be sure to communicate it with those new members so they can verify that as the option they desire.


eAdoption is key to reducing costs for credit unions. By giving members the opportunity to access more of their documents online, credit unions can begin the conversion toward providing almost complete electronic services. It is important to remember that the member is looking for at least as much value as they receive from the printed document. Furthermore, by increasing eAdoption efforts, your credit union will be providing a polished product to new consumers who have grown up in a world of high technology and are looking for fast, easy ways to access their financial documents, as well as those current or potential members looking to ”go green.” Encourage eAdoption and watch your bottom line and retention increase.

Callie Cady

Callie Cady

Callie Cady is the Communications & Marketing Manager at Lanvera, a world-class provider of end-to-end outsourcing solutions for transactional documents. At Lanvera, cutting edge technology solutions are coupled with industry ... Web: Details