Wells Fargo Customers Save 100,000 Trees Through Online Statements and Envelope-Free ATMssmWells Fargo Joins Forces with Arbor Day Foundation; Customers Encouraged to Receive All Statements Online and Use Envelope-Free ATMs
SAN FRANCISCO--(BUSINESS WIRE)--Wells Fargo & Company (NYSE:WFC) today said it exceeded a milestone of saving more than 100,000 trees1 through its Online Statements and Envelope-Free ATMs. In addition, it announced a $30,000 contribution to the Arbor Day Foundation to support the planting of trees and honor customers who have chosen to turn off their paper statements.
"Since 2006, Wells Fargo customers who have chosen to receive their banking statements online have helped save more than 100,000 trees," said Stephanie Smith, senior vice president, Wells Fargo Internet Services Group. "We're honoring that effort with our support of the Arbor Day Foundation, an organization that shares our desire to help our planet through the preservation of more trees."
Customers can access online statements for checking and savings accounts, credit cards, mortgages, brokerage accounts, personal loans and lines of credit, home equity loans and lines of credit, and student loans. Through online only statements, customers stay organized and secure online, and help the environment. Customers who receive their statements online only receive email alerts letting them know when statements are ready.
"Cutting paper use is a direct route to environmental and cost savings," said Rachel Hinchliffe of Environmental Defense Fund. "It conserves natural resources, saves water and energy, and reduces greenhouse gas emissions and solid waste."
The Wells Fargo ATM network complements the online offerings, with receipt options and Envelope-Free ATMs.
By year-end 2009, Wells Fargo's Envelope-Free ATMs had processed more than 100 million checks - which means 97 million fewer paper envelopes, and the benefits of 550 tons of paper or 9,883 trees saved2. "This is an important milestone for our commitment to both our customers and the environment," said Jonathan Velline, senior vice president, Wells Fargo ATM Banking.
Wells Fargo customers also can help protect the environment by using products and services such as:
- Receive and pay bills electronically through Wells Fargo Bill Pay.
- Take advantage of full-spectrum online banking and bill pay products that can help further eliminate paper waste.
- Choose not to print a receipt at the ATM or at home computer.
- Invest in companies with positive environmental track records.
- Redeem Wells Fargo Rewardssm points for renewable energy certificates or other greener rewards.
- Use a Wells Fargo Home Equity Line of Credit to finance energy efficient home improvements to an existing home.
- Homebuyers can use the Purchase & Renovatesm Program to make energy efficient upgrades because the loan is based on the home's value after improvements are made, including savings from energy saving upgrades.
- Benefit from expertise in Wells Fargo's commercial banking Clean Tech Group. Since 2006, Wells Fargo has provided more than $6 billion in financing, including $1.85 billion in solar and wind project investments.
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $1.2 trillion in assets, providing banking, insurance, investments, mortgage and consumer finance through more than 10,000 stores and 12,000 ATMs and the internet (wellsfargo.com) across North America and internationally. Wells Fargo ranks #1 among banks and insurance companies - and #13 overall - in Newsweek magazine's 2009 Green Rankings of the country's 500-largest companies.
1 Estimate based on Environmental Defense Fund Paper Calculator: http://www.papercalculator.org.
2 Estimate based on Environmental Defense Fund Paper Calculator: http://www.papercalculator.org.
Posted: March 11, 2010
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