E-Statements are available at no cost, so customers gain from not paying the paper statement fee. With e-Statements, people can view account statements by logging on to their online accounts. This also saves a person the time and resources of visiting the bank to get a statement.
Customers are alerted via email when their statements become available, and this helps organization by eliminating the use of paper. E-Statements also save credit unions the cost of processing paper statements, and some credit unions, such as USF Federal Credit Union, pass the savings to their customers. The use of e-statements helps to reduce the risk of identity theft by cutting off a paper trail.