SALEM, Ore.-Oregon Employees FCU here is the first credit union to give members a free online file cabinet that they can use to store any electronic document for life.

The $95-million CU hurried to offer the storage service from Seattle-based doxo last fall after an e-statements snafu: a switch to a new vendor prevented members from accessing their statement history held by the previous vendor, said Otto Radke, VP-IT at Oregon Employees (OEFCU).

"doxo fixes the problem because statements are retained in doxo for as long as our member has a doxo account," Radke continued. "With a statement vendor, documents are only retained in Internet banking for 12 months."

doxo is a digital file cabinet that serves as a central point online for consumers to receive, store and pay their important or sensitive documents and bills, said Steve Shivers, the company's CEO and co-founder.

Consumers can open a doxo account only after invitation from one of doxo's partners, which include financial services, telephone, utilities and health insurance companies.

When consumers switch phone service or insurance providers, doxo will remain the constant, acting as the online file cabinet for any company a consumer does business with, said Shivers.

For now, OEFCU enables members to view and store monthly statements on doxo, said Radke. Members submit their OEFCU Internet banking credentials within doxo, and statements are automatically imported. Members can continue to access 12 months of statements behind OEFCU Internet banking.

Members get unlimited storage for documents issued by OEFCU or by any other company partnered with doxo, Shivers said. An additional 500 megabytes of space is allotted to each user to store any other document.

It's not unusual for members to lose access to account statements when their CU switches statement providers, suggested Radke. "The previous CU I worked for moved between providers twice in two years. doxo allows us to be flexible as to whom we choose to provide statements."

doxo treats all data as if they were financial transactions, making the service "extremely secure," said Shivers. Data are encrypted in motion and at rest. When at rest, data are segmented so that if one segment were ever compromised, it would be useless. And "in order for OEFCU and the member to connect on doxo, they both have to grant permission."

Statements at doxo have been available to OEFCU members for two months, so it's too early to release usage statistics, said Radke. "We're not sure who our ideal doxo member is, or if we should tie usage to checking or savings accounts."

To acclimate members to the potentially radical idea of a third-party online file cabinet, doxo spent a day last month at OEFCU helping members scan documents and set up cabinets, Radke said. This month, the CU hosted a "shred day" to persuade members to go paperless.

OEFCU pays doxo each time a member turns on electronic statement delivery, which is more cost-efficient than paper statements, Radke said. The pricing model keeps doxo highly motivated to move consumers over to a paperless environment, said Shivers.

Members can upload any document using doxo's drag and drop desktop application. Documents can be viewed on the go using doxo's iPhone application, and members can upload pictures of receipts or bills from the phone's camera.

"doxo is constantly innovating and adding value for my members," Radke added. "You don't get that from a statement provider."

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