Norway Savings Bank Announces Environmental Initiative Results for Earth Day

Nine-year effort report confirms environmental and financial impact

NORWAY, Maine – Across the nation, organizations are taking steps to reduce their negative impacts on the environment – this is no different at Norway Savings Bank. As Earth Day approaches, an Environmental Recycling Activity Report, recently provided to Norway Savings by the bank’s recycling partner, confirms that a nine-year paperless initiative and recycling effort is making a significant environmental and economic impact.

The report, issued by Secure RMS, recognized Norway Savings Bank as a socially responsible business that has collected and processed 288,190 pounds (144.10 tons) of paper for recycling in the last nine years. The amount of paper recycled in just one year has increased by over 33,600 pounds. The report outlined the savings for the last nine years are equivalent to:

•2,450 trees saved
•1,008,700 gallons of water saved
•590,810 kilowatts of energy saved
•8,646 pounds of pollutants kept out of the atmosphere; and
•721 cubic yards of landfill saved

According to Secure RMS, the estimated financial value of the environmental savings is $743,583.95.

“At Norway Savings we are committed to the growth and betterment of our communities,” states Norway Savings Bank President & CEO Pat Weigel. “For us, this includes being intentional about our actions and steps to protect the environment that we all cherish here in Maine.”

Norway Savings Bank’s Environmental and Paperless Initiative includes better utilization of technology which helps to reduce the automotive courier service for branch check pickups, increasing the use of electronic forms and record storage, as well as diligent recycling efforts throughout the bank. “We have also converted approximately 40% of our account holders to use more convenient and environmentally-responsible e-statements. But we still have more work to do,” said Weigel.

Banks across the country and globally have been working to reduce their use of paper through the promotion of electronic banking.  “At Norway Savings, we encourage our customers to take part in the environmental initiative by living green. By switching their paper statements to e-statements or paying loans and bills electronically, our customers help to reduce the amount of paper produced by the Bank,” states Deb McPhail, SVP, Deposit Operations & BSA Officer.