If you’re anything like us, come Tax Day, you likely have mounds of paper documents just waiting to be sorted. Fortunately, April is also the time of year when Maps Credit Union hosts its annual Shred Day.

This annual event, held at the Maps High Street Branch and Professional Cente r (465 Division St NE in Salem), is FREE and open to the public. Participants do not have to be Maps members and may bring up to two mid-size boxes of documents to shred. Staples can remain, but documents in binders or secured with metal clips should be removed beforehand. Please remove any items larger than staples or paper clips before dropping off your boxes.

Why Shred?

If you are tossing mail, bills, and other documents into the trash, you are exposing yourself to significant risk. While it’s technically illegal in Oregon to root through someone’s trash if the bin is on private property, throwing documents away is not a secure way to protect your sensitive information. According to Iron Mountain (our shredding partner), anything that has a signature, account number, or social security number should be shredded—as well as anything that contains medical or legal information.

But shredding isn’t just about security, it’s also a great way to clear out clutter—in your home and your community. In the United States alone, we consume 58 to 85 million metric tons of paper annually. And, since many shredding services recycle the paper they collect, shredding is often more environmentally friendly than trashing or burning old documents.

Wondering what to shred?

If you have a mountain of papers that you’re holding onto because you think you are supposed to save every receipt, bank statement, and tax document, we can relate. But—once and for all—what should you keep, and what can be shredded? Follow these tips when deciding what to include in your shred box:

What to Destroy Immediately

Paid Bills
Credit Card Offers
Junk Mail
Travel Itineraries
Boarding Passes
Shipping Labels
Cancelled Checks
Credit Reports and Histories
Old Resumes and curriculum vitae
Sales Receipts for Items Without Warranty (After you’ve reconciled them with your bank statement)
ATM Receipts (After you’ve reconciled them with your bank statement)

Destroy After 30 to 60 Days

Checks Deposited Via Mobile Banking: It’s okay to destroy these after the deposit has cleared and you’ve confirmed it in your account (often within 30–60 days).
Credit Card Statements: In general, it’s best to keep your credit card statements for at least 60 days unless you need them as proof of purchase for your tax records.

Destroy After One Year

Paychecks and Pay Stubs: Keep your payroll records for one year or until you receive your W-2 statement for that tax year.
Bank/Credit Union Statements: Physical statements from your bank or credit union should be kept for 1 year unless they contain tax-related information.

Destroy After Seven Years

Tax Documents: You should save all tax records for at least seven years. This includes all filings and accompanying documents (like W-2s, 1099s, and receipts).

Situation-Dependent Documents

Leases and rental agreements: Keep a record of your lease or rental agreement until you have moved out of your home and have received your deposit back from your former landlord.
IRA Contribution Records: Keep your IRA contribution records until you withdraw the money (and even then, it’s best to save them for 7 years, just to be certain). Quarterly statements can be shredded once they are matched with your yearly statement.
Warranty-Related Sales Receipts: Keep the receipt for anything you purchase under warranty for at least the life of the warranty.
Home Purchase/Sale Records: Financial experts recommend saving home purchase and sale records for at least seven years after your home sale, but it is best to keep copies of these records for as long as you own the home + 7 years (based on IRS timelines).
Home Improvement Receipts: Keep your home improvement records indefinitely or until the home is sold. After that, you can pass copies of the records on to the next homeowner or destroy them.
Vehicle Records: Keep your vehicle records (including maintenance and repair records) until you sell or get rid of the vehicle. After that, you can pass copies of the records on to the next owner or destroy them. The same goes for boats, motorcycles, or RVs.
Insurance Records: It’s best to keep your insurance records (medical, home, life, etc.) for the life of the policy and for several years afterward, especially if there are any claims or disputes.
Medical Records: It is wise to keep your medical records and bills for at least 1 year, but often a good idea to keep them around a little longer in case there is a dispute over a reimbursement. Some experts suggest you keep medical records for 5 years from the date of your last treatment for any specific illness or ailment. This means hanging on to prescription information, medical histories, health insurance details, and contact information for your physician.
Wills and Living Wills: Wills and living wills that are not in effect should be kept indefinitely. Wills that have gone into effect should be kept for at least 7 years after the person’s death or the closing of the person’s estate—whichever is later. If you have made changes to your will, the old copies are usually destroyed, but it’s best to consult your attorney on this matter before doing so. They may request that you keep the old versions as a testament to your intent.
Investment Records: Keep track of any investment records (like end-of-year summaries, brokerage statements, college savings plan statements, and retirement savings plan records) as long as you own the asset and for at least seven years after you sell the asset to substantiate tax returns.

What to Save Forever

Some documents should be saved indefinitely. These vital documents should be kept in a fireproof safe and—if possible—additional copies should be kept electronically in secure cloud storage.

Birth Certificates
Death Certificates
Social Security Cards
Citizenship Records
Marriage or Divorce Decrees
Adoption Papers
Military Records
Retirement and Pension Records
Life Insurance Records
Beneficiary Forms
Academic Records

Shred Day—What to Shred and What to Keep