Jul 1, 2010 -
Claremont Savings Bank is always looking for ways to simplify banking for you. We have a way to do just that!
Many of you have asked us if you can have all of your monthly statements come at the end of the month. You have told us that this would be particularly helpful if checking account statements could be processed at month end. This is especially true for customers who have business accounts or have multiple personal/family accounts (ex: checking, MIDAS, statement savings). We agree with you: having statements all processed at the end of the month simplifies record-keeping. It also makes statement consolidation (having multiple accounts listed on one statement) simpler. We are happy to let you know that we will be making this change. How will this change be put into place?
Right now, we have seven different cut-off dates. That means statements are processed at seven different times in a given month. Some customers have ‘month-end’ on the 7th, others on the 10th, others on the 15th, and so forth.
In August, you will get your statement according to the current schedule. In September, all statements will be generated on September 30, and you will be receiving them a few days later. That means that some of you will not get a statement from early-August until early October. For others, who now get statements near the end of the month, they will have about 40 days between statements.
When we generate the statements at the end of September, we will be modifying the fee calculation to reflect a two-month analysis, rather than a one-month period, so that customers with a longer statement period will not be charged more for the extra-long cycle.
For those of you who would like to have a statement print-out sooner than this process offers, we have a few suggestions.
- You can look at your accounts on-line at any time if you have signed up for on-line banking. There is no charge for on-line banking. Our Call Center staff will be happy to help you set up on-line banking. And, keep in mind, that if you do not have a computer at home, we have computers and printers available free of charge at our Main Office, Washington St, Maple Avenue, and Charlestown branch offices.
- Another action we are taking during this transition is to offer account print-outs without charge at any Bank location or through our Call Center at 542.7711.
Once we get through the transition month, we think you will be much happier having all of your statements come at the end of the month, one that reflects a calendar month’s worth of activity on one statement. With your help and understanding, we can get through the transition smoothly.
Thank you for your cooperation and for choosing Claremont Savings Bank…we’re with you.