One Million TIAA-CREF Customers Choose eDelivery, Save Trees
Clients have saved or planted more than 21,000 trees since December 2007
NEW YORK, July 21, 2010
TIAA-CREF today announced that more than one million customers, or 29 percent of its 3.7 million total customer base, have elected to receive documents from the organization via paperless, online delivery, thereby saving trees and reducing their paper footprint.
“By switching to electronic statements and billing, the average household can save more than six pounds of paper annually, and avoid producing 171 pounds of greenhouse gas emissions. That's the equivalent of avoiding emissions generated by driving 169 miles,” comments Jamie DePeau, Senior Vice President of Marketing for TIAA-CREF. “For each person who signs up for at least three categories of eDelivery, the organization saves about $10 per year, which we pass on to our customers in the form of lower expenses.”
Customers who receive TIAA-CREF correspondence electronically not only reduce their own paper clutter, but also receive their financial statements faster and help minimize the chances of becoming victims of identity theft.
Since December 2007, TIAA-CREF customers have saved 136.7 million pieces of paper. If laid end-to-end, they would stretch back and forth across the United States nearly 7.5 times and save some 11,395 trees from being destroyed.
In 2007 the organization partnered with the Arbor Day Foundation to promote eDelivery. During the 6-month “Go Green, Plant-a-Tree” campaign, some 10,000 trees were planted on behalf of customers who chose to go paperless. In total, TIAA-CREF eDelivery customers have saved/planted 21,586 trees over the past 2.5 years.
In September 2009, the organization launched the “Go Green to Win” sweepstakes, which further encouraged customers to sign up for eDelivery for all their statements. Between December 2007 and April 2010, more than 288,000 TIAA-CREF customers registered to receive a variety of documents via eDelivery, including: quarterly statements, transaction confirmations, prospectuses, supplements, annual reports, tax forms and privacy notices, among other financial correspondence.
Additionally the organization transitioned its employees to eDelivery, although all customers have the option to change their delivery preferences at any time.
TIAA-CREF (www.tiaa-cref.org) is a national financial services organization with $426 billion in combined assets under management (as of 3/31/10) and provides retirement services to the academic, medical, research and cultural fields.
Jennifer Compton, TIAA-CREF
firstname.lastname@example.org, 212 916-6066
TIAA-CREF Individual & Institutional Services, LLC and Teachers Personal Investors Services, Inc., members FINRA, distribute securities products.