PERSONAL ACCOUNT SERVICE FEE CHANGES
Effective September 1, 2024
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Effective September 1, 2024
Cambrian’s mission is to provide the best value in banking to our members, which is why we have not increased our service fees since 2018.
However, due to rising operating and payments processing costs, we will be making incremental changes to our personal account service fees effective September 1, 2024.
Members can continue to bank for free at Cambrian by getting their personal account service fees refunded monthly with our Unfee program. Unfee returned $6.9 million in services back to our members in 2023.
In October 2005, Cambrian launched our innovative Green for Green program, encouraging members to receive their account documents online by providing a $1/month incentive for doing so. No other financial institution provided this type of incentive.
The goal was to allow members to manage their banking documents electronically, while improving our operational efficiency and saving millions of pages of unnecessary paper.
The Green for Green program has proven a resounding success for Cambrian, our members and the environment!
85% of Cambrian’s Online Banking members now receive their account documents electronically.
Together, we are saving more than 2,000,000 sheets of paper every year by not printing and mailing these monthly statements, tax receipts, maturity notices and other documents.
Having achieved these milestones, Cambrian will be sunsetting our Green for Green program, with the last $1/month incentive being paid to members on August 31, 2024.
Cambrian will be reallocating the cost of the incentive program towards the ongoing development of the best possible digital banking experience for our members.
Stay tuned for more details as our digital journey unfolds.
