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Free Paper Shredding Days Growing Popular at Credit Unions

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Free Paper Shredding Days Growing Popular at Credit Unions

While I've been searching for deposit deals, I've noticed more and more credit unions offering free shred days for their members. If you don't have your own shredder, this service can be a good deal to safely dispose of any papers that have your personal information. It can even be a good deal if you have your own shredder. If you have lots of papers to shred, it can take a long time to shred these with a small shredder.

The credit unions typically pay for a shredding service company to park a shred truck at one or more of the credit union branches. That's what my credit union did last year. I took 2 boxes of papers that I had accumulated over the last 10 years to the credit union. The shredding service company had their truck parked on the side of the credit union building. I just dumped my documents into a plastic can. When the can became full, the shredding service worker closed the can and loaded it into the shredding truck. It was very quick, and no one even checked if I were a member.

In the comments last year, readers warned that you should make sure the papers are properly shredded. They should be shredded into confetti and not in strips. I assume all professional shredding service companies have equipment that fully shreds documents. Here's how one credit union described how the shredding is done:

Watch the on-board camera as your confidential documents are shred into particles as small as 3/8 inch.

In my opinion, the biggest risk with these shred days is if one or more of your papers blows away as you dump your box of papers into the plastic bins.

Below are a few credit unions that I've come across that are having shred days in next month. If you know of others, please leave a comment.

Free paper shredding isn't a big perk. It's not going to make up for low deposit rates. However, it can save you time and money.



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Comments
24 Comments.
Comment #1 by Anonymous posted on
Anonymous
Ken, you wrote:
“However, it can save you time and money.”

I don’t see how that is possible. I have to gather old statements, put them in a plastic bag, drive to the CU, leave it there, drive back home and turn on the computer and wait for the shredding to start.  If that is not a waste of time, I don’t know what is, plus $4 a gallon cost of the gas to go and $4 of gas to come back and one hour of my life wasted for something I can do myself in few seconds.

7
Comment #2 by unmesh posted on
unmesh
Anonymous #1,

It looks like you've found a shredder that does not jam. Would you mind sharing the model number?

Thanks.

4
Comment #3 by Paoli2 posted on
Paoli2
I agree with #1.  It's not worth the money and hassle when we can get such inexpensive shredders at Walmarts.  As for jamming, one has to be doing a lot of shredding and trying to cram too much papers in at one time from my experience.  I really dislike shredding a lot of stuff and find it is faster for me just to tear off any personal info at the top of sheets and just throw the rest away in a plastic bag.  It seems to be a necessary evil for certain documents tho especially in these days when trouble makers go throw garbage just to find something useful to their illegal acts.

1
Comment #4 by Anonymous posted on
Anonymous
Right now this is a true savers benefits.  Free shredding and low interest rates.

1
Comment #5 by cumulus posted on
cumulus
 

Add

Oct 20 at University of Illinois Employees CU in Urbana, IL

to your list Ken. Their modus operandi is just like yours:
drop off at truck in parking lot, no member check.

1
Comment #6 by Anonymous posted on
Anonymous
Do you people realize that you're actually having a back & forth serious discussion about paper shredding? 

Yes, I do realize that I'm actually commenting about the fact that you people are discussing paper shredding! And yes, I am slightly embarassed. :)

3
Comment #7 by Anonymous posted on
Anonymous
Does it have to be paper, or can I bring in a bag full of lettuce?

That would really come in handy when I make large amounts of tacos.

6
Comment #9 by Anonymous posted on
Anonymous
#7........In the movie Falcon & the Snowman an early document shredder was used to make/mix Margaritas...........so you're definitely on the right path. :)

2
Comment #8 by Anonymous posted on
Anonymous
Why not just shed our dollar bills.  They're becoming worthless anymore with inflation.

4
Comment #10 by Paoli2 posted on
Paoli2
If you really want to save money with your own shredder, did you know you can use the bottom container as a regular trash can or for holding other items when not in use?  It saved me a couple of bucks from having to buy an extra trash can so I get double for my money.  Shredders don't just have to be for shredding any more. ( Ken was smart to take this topic on himself and not ask Ms. Nash to do it. :) )

2
Comment #20 by Anonymous posted on
Anonymous
#10'S comment reminded me of an old saying about a typical tightwad. 

"She is so tight that she would skin a gnat for its tallow"

1
Comment #21 by Paoli2 posted on
Paoli2
#20  I didn't know gnats had tallow.   Have I been missing out on something?  I can use my shredder can to store all the gnats until I find more time to skin them.  This is such a great blog.  So much to learn and do!  At least it helps keep me from worrying about low rates.  Thanks!

1
Comment #11 by Anonymous posted on
Anonymous
JUST THE SUBSTITUTE FOR SAVING I HAVE BEEN LOOKING FOR

SHREDDING

IN FACT, SINCE I CANT AFFORD SHREDDED WHEAT EVEN WITH MY CREDIT UNION INTEREST

IM TAKING MY SHREDDING HOME AND EATING IT FOR BREAKFAST

BY THE WAY

WHY DONT THEY PROVIDE OTHER SERVICES IN LIEU OF INTEREST ON ACCOUNTS

LIKE---VACUUM YOUR CAR MATS, OR A KLEENEX IF YOU HAVE A COLD---BANKS AND CREDIT UNIONS

WHO EVER THOUGHT OF GETTING RICH THE SLOW WAY---1%  A YEAR FOR 100 YEARS

AND NOW THERE ARE MORE CREDIT UNIONS IN MY CITY THAN STARBUCKS

SOMETHINGS UP WITH THAT

MAYBE THE WHOLE THING IS A FRONT FOR A MOBILE SHREDDING BUSINESS

2
Comment #12 by rickny (anonymous) posted on
rickny
Have to agree with #11.  Put the money for higher rates on savings.  This is just a gimick to get people to visit the credit union so maybe they will get more business

1
Comment #13 by Paoli2 posted on
Paoli2
#12  Are you really taking this seriously??  Who would waste the gas these days unless they first checked to see if they could get a higher CD rate while having junk shredded?  I'll shred my own trash and use my gas to get to where I can get better rates.

1
Comment #14 by Rosedala posted on
Rosedala
IN NYC (MANHATTAN):
Columbus Circle (Merchant's Gate: Columbus Circle between Central Park South and Central Park West)
St. Nicholas Park (West 135th Street and St. Nicholas Avenue)
Union Square (South Plaza: East 14th Street and Union Square East)   Not a Credit Union, just the City's bonus.  And, yes, I agree with Ken that this IS important.  All you have to do is see if a CU is near you to walk or take a public transportation.  And YES, it saves time and work to do it in the small shredders thereby saving money too – time IS money!  You don't have any near you - then shut up!

Most commenters here are simply obnoxious jerks to make fun of Ken and/or Ken's guests who take time and bother to bring us interesting and useful ideas and suggestions.  It would be much more productive if you bit your tongues or fingers  before criticizing the "hand that feeds you".  How much do you PAY for belonging in this website and ripping its benefits???    IF the national economic health is restored....you will, again, enjoy the excellent efforts of Ken bringing us the absolute best places where to invest our money.  So...those of you who have been bitterly or mockingly criticizing him in the bad times, maybe should be rejected from acquiring Ken’s benefits in his site?  

5
Comment #15 by Paoli2 posted on
Paoli2
Rosedala:  Since when are posters not allowed to give a difference of opinion without being called "obnoxious jerks"?  I think you are causing more problems by your negative, name-calling post than any of the other posters, including myself have done.  The one thing I like about this Blog/Forum Ken provides is that we don't have to agree with every idea presented to us.  What I dislike is when posters use the Blog to attack other posters.  If the posters had broken any comment rules, the deleters should have deleted them including yours since "personal attacks" are against the comment policy.

4
Comment #16 by Anonymous posted on
Anonymous
Keep that paper.  We may need it to build a fire to stay warm.

1
Comment #17 by Saul (anonymous) posted on
Saul
How about all the banks and CU's that are now offering free COIN COUNTING?  That seems to be the new thing in the NY area.  Who are they kidding?  They'll count my coins for free, then offer me 0.25% on my money market account.  Do they think I'm a jerk or something?  Why don't they offer free foot massages????

By the way, Paoli2's Comment #10 about Ms. Nash almost made me pee in my pants, so funny.  ("Ken was smart to take this topic on himself and not ask Ms. Nash to do it. :) )".  He should be a professional comedian, no kidding.

1
Comment #18 by Paoli2 (anonymous) posted on
Paoli2
Saul #17:  Glad you said "almost" with the pants problem.  BTW "He" happens to be a "she" but I am still glad I was able to give you a wee laugh with my remark.  Have a good evening and try to stay dry.

1
Comment #19 by Saul (anonymous) posted on
Saul
To Paoli2:  sorry about the gender mix-up.  I always assume that such sarcasm would come from a male perspective, sorry.  Maybe Ms. Nash can write about the coin counting. :)

1
Comment #22 by Anonymous posted on
Anonymous
SINCERE APPOLOGY TO KEN AND CREDIT UNIONS THAT SHRED

I WAS BEING A WISE GUY AND THATS NOT HELPFUL

ACTUALLY, AFTER TAX SEASON, A SHREDDING SERVICE FOR FREE MIGHT BE HANDY.

SO, TO ALL THE READERS AND THIS COLUMN--KEEP YOUR INTEREST UP

2
Comment #23 by Anonymous/Paoli (anonymous) posted on
Anonymous/Paoli
#22  I considered your post a bit of comic relief from worrying about interest rates all the time.  I think Ken has a good sense of humor too or he could not keep going with this blog and forum.  :)

1
Comment #24 by Anonymous posted on
Anonymous
Many banks and CUs have had annual “Shred Days” for years.  I mark the date on the calendar and it’s an incentive to clean out all my files, esp. financial and medical.  I take a big box or so to be shredded on that day.  The shredding company is bonded.

1