You never think you need to save your monthly statements until you need them. And today, you need them more than you realize.
Did you realize that your monthly statement is your Check Card (debit) protection
for online and telephone purchases. When you use your Check Card at a store, you
have your receipt and the transaction information. But what about when you order
from that catalog by phone? Where is your record? What if you have to send it back?
What if you never receive it? How do you prove you ordered it? How do you verify
that your account was debited for the transaction? With your monthly statement!
If you have a credit card, you reconcile your purchases with that monthly statement.
Your Credit Union monthly statement gives you the same protection for your Check
Card.
There are many other reasons to keep your statements, all of which go along with
good record keeping. ATM deposits and withdrawals are recorded there. Checks and
their paid date are recorded there. The interest you have earned is recorded there
too.
We recommend that you keep your monthly statements for at least one year. You might
need them for your income tax too!