Starting with the October statements that are mailed in November, we will begin charging a $1 monthly fee for all paper statements. The fee will be waived for members who are under 19 or over 64 years old, those who have a checking account or who have completed their eStatement enrollment by the last day of the month during the statement period.
Select one of the following sections to read more information:
- The Reasons FFCU is Charging a Paper Statement Fee
- What You Can Do to Avoid the Fee
- Details About the Fee and How it is Charged
- Learn About Our eServices Event
- View Our Complete, Updated Fee Schedule
The Reasons FFCU is Charging a Paper Statement Fee
We don’t like charging our members new fees. Here are the reasons we have decided to implement this one and encourage e-statements as an alternative:
Converting all the paper statements we send to eStatements would save more than 50 trees, plus fuel, each year! We typically send 85,000 statement pages in over 55,000 envelopes – that really adds up!
Want to learn more about using our electronic services?
Our tree estimate was based on the American Forest & Paper Association’s facts using 6 inch diameter trees.
Your financial security is a top concern for the Credit Union. Switching to eStatements can give you added peace of mind because it eliminates the chance of your Credit Union statements being stolen from your mailbox. In 2013, more than 500,000 victims of identity theft reported mails as the source of fraud.
Want to learn more about keeping your identify and finances safe?
Reported on the USPS website
We are a not-for-profit financial cooperative, which means any “profits” we earn goes back to you, our members and owners, in the form of better products and services, lower fees, and better rates. First Financial currently spends over $25,000 each year to print and mail paper statements. That money will now be used to give you even better products and services.
How to Avoid the Fee
If you are under 19 or over 64 years old, you will not be charged a statement fee. Additionally, members with checking accounts will not be charged the fee. If you are 19 to 64 years old, you can avoid the fee by opening a checking account with a Member Service Representative or enrolling for eStatements.
To enroll in eStatements:
- Sign in to It’s Me 247 online banking. If you’ve never signed in before, or it’s been a long time, you may need to call us at 773-565-2000 to have your password reset.
- Click the eStatements tab in the top navigation bar after you’ve logged in
- Select the “Enroll Now” button
- Read the disclosures and enter your email address, then select “Accept”
- You will then be enrolled in eStatements. You will receive an email when your eStatement is ready at the beginning of the month, typically on the 2nd or 3rd. Return to the eStatements tab in Online Banking to view your statement.
Watch this video to get an overview of our Online Banking site, It’s Me 247:
Details About the Fee and How it is Charged
The $1 paper statement fee will be charged to your membership’s Regular Share account and is charged per membership, not per account. If you have multiple sub accounts (share draft, vacation club, loan), you will only be charged $1 when your statement is printed for all sub accounts. The fee is charged to your Regular Share when a paper statement is printed for your membership, within 3 business days after the end of your statement period.
- Members who only have share and certificate of deposit accounts, or who do not have activity on share draft accounts within 90 days, have quarterly statement periods.
- Members with loans or share draft accounts that have activity during the last 90 days have monthly statement periods
Because the fee is posted to accounts as paper statements are being printed, you will see it recorded on the month after that statement period that is being charged. Example: the fee for an October statement will be posted to your account at the beginning of November when the statement is printed. You will then see the fee on your November statement, which is delivered at the beginning of December.
Join Us for Our eServices Event!
We want to do everything we can to answer your questions and help you avoid the fee by getting set up with eStatements. We’ve scheduled discussions, workshops and free shredding to make the transition easy.
Friday, October 17th
- 9am – 5pm: Online Service Tutorials with our Member Services Team
- 5:30pm – 6:30pm: Talk with our CEO, Patrick Basler, about the future direction of the Credit Union and how you can expect to benefit as a member
Saturday, October 18th
- 9am – 1pm: Online Service Tutorials with our Member Services Team
- 9am -1pm: Free Paper Shredding for FFCU Members. Please limit the amount of paper you bring to 2 bankers boxes
- 10am – 11am: Financial Fraud Seminar
- 12pm – 1pm: Online Banking Workshop: Gives an overview of Online Banking, Online Bill Pay, eStatement Enrollment, Automatic Transfer, and Money Desktop