Partner Profile

Partner Profile:
Old Town Bank & Trust of Bloomingdale

When people think of ways to conserve and protect the environment, they usually don’t think of a bank. But Old Town Bank & Trust of Bloomingdale is trying to change that. The bank has a new checking account that actually rewards customers for being environmentally conscience and “Going Green.” It’s called E Rewards Checking and it helps save customers money and limits their waste.

“E Rewards Checking is designed to pay people a higher rate if they take just a few simple steps toward protecting the environment,” said Old Town Bank & Trust of Bloomingdale President Christine D. Smith. “It’s important for us at the bank to be proactive in our approach to conserving the environment.”

With E Rewards Checking, if a customer meets five basic banking requirements they will receive a high rate on their checking balance. Four of the five requirements should positively impact the local Bloomingdale environment. These include:

• Receive Electronic Statements: Customers receive notification of their statements via email instead of mail, which saves paper.
• Use Online Bill Pay: Customers set up at least one online payment which eliminates the waste of paper bills and envelopes being sent back and forth between you and another party.
• Make One Direct Deposit or Automatic Payment: Customers have their pay checks sent directly to their online bank account which eliminates company’s sending checks every two weeks to all their employees.
• Access Online Banking: using online banking services customers will lessen their overall negative impact on the environment.

Why is it so important to utilize paperless services from your bank?
Here are some interesting facts about the paper industry and it’s affect on the environment.

• The paper industry is the 4th largest producer of greenhouse gas emissions in the United States.
• If the United States cut office paper use by just 10% it would prevent the emission of 1.6 million tons of greenhouse gases – the equivalent of taking 280,000 cars off the road.
• Paper accounts for 25% of landfill waste.
• Half of the world’s forests have been cleared or burned and 80% have been seriously degraded

With those facts in mind, Smith says her bank is trying to do its part to lessen the impact on the environment. “The key is to offer customers simple ways to help conserve natural resources, like paper,” she said. “If we can provide easy and inexpensive ways for the people of Bloomingdale to reduce their paper usage at our bank, then we’re going to do everything we can to make that possibility a reality.”

Besides the E Rewards checking account, the bank also regularly recycles its paper trash, mandates all employees have the direct deposit service and keeps the building temperature at 70 degrees Fahrenheit. Smith also said Old Town Bank & Trust of Bloomingdale will continue to partner with the Bloomingdale Park District to promote “green” initiatives in the Bloomingdale community.

“’Going Green’ isn’t just a catchy phrase,” said Smith. “It’s important that all of us take the protection and conservation of our environment seriously. We’re trying to do our part as Bloomingdale’s hometown bank.”