Norway Savings Bank Announces Environmental Initiative Results for Earth Day

12-year report confirms reduction in paper use and increase in recycling

 

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 12-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 397,475 pounds (198.74 tons) of paper for recycling since 2010. Since 2019, we’ve recycled nearly 109,300 pounds. The report outlined the savings for the last 12 years are equivalent to:

  • 3,379 trees saved
  • 1,391,180 gallons of water saved
  • 814,834 kilowatts of energy saved
  • 11,924 pounds of pollutants kept out of the atmosphere; and
  • 994 cubic yards of landfill saved

According to Secure RMS, the estimated financial value of the environmental savings is $1,025,517.03.

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, electronic signatures 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 over 43% of our account holders to use more convenient and environmentally-responsible e-statements. But we still have more work to do,” said Dan Walsh, President & CEO. “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. In 2021, the bank donated 124 computers, laptops, and monitors to give IT. get IT., a Waterville, ME based non-profit dedicated to supplying Mainers with free or very low-cost computer equipment.

 

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, 2021, Norway Savings Bank had $1.757 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 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 2020, Norway was recognized with the “Best Wellness Employer – Gold Certification” for the second 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 32 continuous years. For more information, visit www.norwaysavings.bank.

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