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Ken Tumin founded the Bank Deals Blog in 2005 and has been passionately covering the best deposit deals ever since. He is frequently referenced by The New York Times, The Wall Street Journal, and other publications as a top expert, but he is first and foremost a fellow deal seeker and member of the wonderful community of savers that frequents DepositAccounts.

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Free Paper Shredding Days Growing Popular at Credit Unions


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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