Community Shredding
Our next Community Document Shredding Event will be held on Friday, May 1st, 10am to 12pm at our Stewart Drive branch. To participate, please observe the following:
- Only 5 boxes/bags per vehicle
- Remove all documents from folders or binders
- No spiral notebooks or binding of any kind
- No binder clips, only staples and small paper clips
- No glass of any type
- No household trash
With identity theft on the rise, we want to share some helpful tips on what should be shredded and when. While most of us already shred items like credit card offers or junk mail, there are other documents we may overlook, such as your Bronco Federal Credit Union statements, receipts, insurance policies, and more. Any document containing your name or personal information could be used for identity theft.
However, not everything needs to be shredded. Be sure to keep permanent records like paperwork related to taxes, home construction or improvements, business expenses, marriage licenses, and birth certificates. It’s also a good practice to save receipts for significant purchases.
Here is a chart with some items and recommendations on how long to keep:
| Item | How long to keep |
|---|---|
| Monthly utility bills | Until they’re paid, unless needed for tax purposes. |
| ATM receipts | Until you have balanced your checkbook. |
| Medical bills | Until they’re paid, unless you deduct medical expenses from your taxes. |
| Canceled checks | If you still get these, you can shred immediately unless you need to keep for tax purposes. |
| Credit union statements | Until your checkbook has been balanced, unless you need them for tax purposes. |
| Pay stubs | Until you have balanced your W2 at the end of the year. If you’re considering a loan for a major purchase, like a house, keep until the loan is closed. |
| Monthly/quarterly account statements | Until the annual statement arrives. |
| Credit card statements | One year, unless needed for tax purposes. |
| Credit card receipts | One year, unless needed for tax purposes. |
| Expired credit cards | Destroy immediately. |
| Tax returns and supporting documents | Seven years. You can be audited for no reason up to three years after you file a return. If you omit 25 percent of your gross income, that period extends to six years. |
| Records of selling a house | Seven years (Documentation for Capital Gains Tax). |
| Records of buying a house | Until you have sold the home. Any documents related to taxes should be held for seven years. |
| Records of home improvements | Seven years after filing the tax return that includes the income or loss on the home when it’s sold. |
| Product warranties | Until you no longer own or use the product, or until the warranty expires, whichever comes first. |
| Retirement plan statements | Keep the annual statements as long as you have assets in the plan. |
| Year-end account statements | Until you no longer own the investment. |
| Loan paperwork | Until the loan is paid. If you receive a payoff statement once the loan is paid, keep that indefinitely. |
| Insurance policies | As long as you own the policy. |
| Marriage license | Never destroy. |
| Birth certificate | Never destroy. |
| Wills | Never destroy. |
| Adoption papers | Never destroy. |
| Death certificates | Never destroy. |
| Records of paid mortgages | Never destroy. |
Bronco Federal Credit Union is committed to helping our members safely dispose of sensitive documents. That’s why we partner with a trusted shredding company to host community shred days, usually held twice a year in April and October.
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