I have opted for electronic statements for my bank and brokerage accounts, but never download them and rarely even open them, figuring that so long as my moneydance balance matches my online balance there is no need.
I always figured that a year's worth of statements would be available if needed. However, when the FDIC stormtroopers closed Centennial Bank of Ogden, Utah and closed the website without notice, I realized just how foolish it is to rely on the financial institution to maintain my records.
If a website is closed and you must prove your balance to a regulator because you have or believe you have more money than the regulator's records show, life is much easier with bank and brokerage statements than without. When the brokerage firm fails and you have to put in a claim, those who have their last statement get paid before those who do not.
Perhaps it is obvious, but given the rate of bank failures, and the possibility of broker failures, I thought it a good idea to remind others of the need to preserve electronic statements.
I just created a folder with subfolders for each account, and am adding my most recent statements for all of my accounts with more than $10 in them. I name the files "Etrade 2010-2" for my February statement, putting the year first because it sorts better when multiple years are saved. I will probably sownload them all over time but that will take a while.