Environmental Initiative Helps Reduce Norway Savings Bank’s Carbon Footprint

Seven-year effort 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 seven-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 over 210,955 pounds (105.48 tons) of paper for recycling in the last seven years. The amount of paper recycled in just one year has increased by almost 35,000 pounds. The report outlined the savings are equivalent to:

• 1,793 trees saved
• 738,360 gallons of water saved
• 432,468 kilowatts of energy saved
• 6,329 pounds of pollutants kept out of the atmosphere; and
• 527 cubic yards of landfill saved

The estimated financial value of the environmental savings is $544,165.06, according to Secure RMS.

“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 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. In addition to these efforts, the bank has adopted the use of geothermal technology and other energy efficient HVAC systems in branch construction and renovation projects in order to reduce its consumption of fossil fuels. “We have also converted approximately 37% of our account holders to 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 paper through the promotion of electronic banking. However, getting customers to agree to paperless banking has been a challenge for many banks.  “We encourage and hope our customers will consider switching from their paper statements and going purely to e-statements,” said Steve Whitney, EVP Risk Management, IT & Deposit Operations. “Norway Savings Bank will do everything we can to make it a simple switch, including converting your statements to electronic versions,” Whitney continued.

About Norway Savings Bank
Founded in 1866, Norway Savings Bank is a leading mutual banking and financial services company headquartered in Norway, Maine. As of December 31, 2016, Norway Savings Bank had $1.093 billion in total assets and provides financial services to over 38,000 households throughout western and southern Maine. Norway Savings Bank has 24 branch locations and operates divisions in asset management, personal banking and business banking. In 2016, Norway Savings Bank was honored as one of the Best Banks to Work For by American Banker and Best Companies Group as well as one of the Best Places to Work in Maine. In 2013, Norway Savings Bank received the Governor’s Award for Business Excellence and has been recognized as one of the healthiest companies in America by the Wellness Council of America (WELCOA) as a two-time Gold-Level Well Workplace award recipient.  BauerFinancial has designated 5-Star Norway Savings Bank the “Best of Bauer” for earning and maintaining its highest 5-star rating for 25 continuous years or longer.  For more information, visit www.norwaysavings.bank.