Norway Savings Bank Announces Environmental Initiative Results for Earth Day

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. Moving to a paperless workplace and using more solar energy are two major initiatives at the Bank.

In honor of Earth Day, Norway Savings received an Environmental Recycling Activity Report, from its recycling partner. The report confirms that a 13-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 420,196 pounds (210 tons) of paper for recycling since 2010. The report outlined the savings for 2022 are equivalent to:

  • 193 trees saved
  • 4,317 gallons of oil conserved
  • 79,524 gallons of water saved
  • 54,530 kilowatts of energy saved
  • 1,136 cubic yards of landfill saved

Also in 2022, Norway Savings installed 39 solar panels at our Kennebunk location. The annual offset of Carbon Emissions is 47,610 pounds, which is equivalent to:

  • 2,429 gallons of gasoline not burned
  • 5 passenger cars removed from the road
  • 3,750 gallons of propane not burned
  • 520 pounds coal not burned

“At Norway Savings our core values are extremely important to us – respect, dignity, community service and fiscal responsibility,” states Norway Savings Bank President & CEO Dan Walsh. “These are the cornerstones of our business and have informed our decision to embark on a path toward environmental sustainability, social equity and governance – also known as ESG. 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. 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 nearly 45% of our account holders to use more convenient and environmentally-responsible e-statements. But we still have more work to do,” said Walsh. “I’m also pleased that our move to accept electronic signatures is reducing our use of paper even more.”

Banks across the country and globally have been working to reduce their use of paper through the promotion of electronic banking. However, getting customers to agree to paperless banking has been a challenge for many banks. “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.

Along with recycling paper, and encouraging customers to utilize digital banking services, Norway Savings Bank is also committed to donating, responsibly recycling and disposing of computer equipment and other eWaste. In 2020 the bank partnered with give IT. get IT. Since then, the Bank has donated 189 computers, laptops, and monitors which benefited Mainers without access to computers.

 

 

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, 2022, Norway Savings Bank had $1.795 billion in total assets. Norway Savings Bank has 24 branch locations and operates divisions in trust and investment services, personal banking and business banking. In 2022, Norway Savings received the Best Place for Working Parents designation and was recognized with the “Best Wellness Employer – Gold Certification” for the fourth year in a row by Wellness Workdays. BauerFinancial has designated Norway Savings Bank the “Best of Bauer” for earning and maintaining its highest 5-star rating for 33 continuous years. For more information, visit www.norwaysavings.bank.