Why Paper Statements Are Slower — And How to Get Yours Faster

We hear the question often: Why haven’t I received my bank statement yet?

You may have noticed your bank statement arriving later than usual – in some cases up to two weeks instead of one. Continue reading to understand why the United States Postal Service’s (USPS) “Delivering for America” plan, a 10-year plan announced in March 2021, is affecting bank customers today.

The “Delivering for America” plan was launched after years of financial losses and missed service goals by the USPS. According to their plan, prolonged underfunding and neglect of infrastructure have taken a toll on the USPS workforce and their performance. COVID-19 exacerbated the problem with increased package volume, less employee availability, and transportation issues. The pandemic resulted in changes in consumer behavior and commerce that are expected to continue—both a challenge and an opportunity for the USPS.

The USPS states that the cost to maintain their old standards, even if unmet, will increase. With a goal of increasing revenue and providing more reliable service, the USPS is making some changes. They are doing this through a variety of ways: consolidating mail processing facilities, adjusting transportation networks, and changing consumer expectations on delivery time.

According to PARCEL, a magazine dedicated to providing useful information to those responsible for the parcel logistics process, the USPS revised its delivery performance targets for 2025, and rural customers or those farther from USPS hubs may face delays. Since First Security serves rural communities, our customers are affected by these changes.

What do we recommend?

The fastest and most secure way to receive a bank statement is electronically. Why? Estatements:

  • Are available to view immediately within online banking
  • Are protected by multi-factor authentication
  • Can’t be stolen from a mailbox
  • Can’t be misplaced like a physical document can be
  • Limit exposure of personal information
  • Offer immediate viewing access so customers can detect fraud, if it has occurred, more quickly

If you are interested in learning more about the USPS’s 10-year plan and new service standards, please visit their website dedicated to the topic.

If you are interested in converting to the safety and security of estatements, please visit our website, call us at 1-800-272-0159, or visit any of our 10 branches.

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