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    Debunking Common Credit Union Myths

    Last updated 16 hours ago

    When deciding what to do with your money, it is important to know everything about your available options before making a choice. Banks and credit unions are two of the most widely used financial institutions when it comes to personal finances. However, there continue to be numerous misconceptions about credit unions.

    Credit Unions Do Not Offer the Same Convenience

    Many people think that local credit unions do not offer the same advantages that banks do. For example, a lot of people believe that they do not provide advanced technological services like mobile banking. However, reports from CFI Group, a research firm in Michigan, show that credit unions actually scored higher than banks on mobile banking. Another common misconception is that they offer fewer locations. Even though credit unions have less physical locations than most banks, they have shared banking networks through sister credit unions and popular outlets like 7-Eleven.

    Banks Offer More Rewards and Better Service

    A lot of people are only focused on what they earn through rewards programs, so they do not pay attention to the fees they incur. Not only do credit unions offer similar rewards programs, but they also offer great features such as free checking and lower interest rates. In addition, many individuals mistake more advertising for better service. Since credit unions focus on returning surplus money back to its members, they spend less on marketing than banks. However, they still offer great service.

    Joining One is Hard

    Many individuals choose not to join a credit union, because they think they are ineligible. Different ones serve different groups of people. If you try searching for one related to your profession, you may be surprised to see how many options there are. You can even use the status of a family member within a community to gain access to one. In addition, many credit unions offer complimentary switch kits that make transferring automatic payments and other information hassle-free. 

    At Westmark Credit Union, we have been assisting the people of Idaho Falls and the surrounding areas with all of their financial needs since 1954. Along with no-fee checking accounts, we offer a multitude of financial services like low-rate mortgages and credit cards. Call us at (208) 523-1071, or come visit us at one of our many branch locations to see how you can become a member. 

    Reasons to Use Mobile Banking Services

    Last updated 11 days ago

    With mobile banking services from Westmark Credit Union, managing your accounts is as easy as reaching for your smartphone. Mobile banking lets you manage your finances in your free time instead of having to make stops at the credit union. Our mobile banking services allow you to complete a number of different account tasks right from your device.

    With mobile banking, you can transfer money, check your account balances, and see what balances have cleared. You can also use Popmoney to pay friends on the spot and set up automatic bill pay transactions. If you’re worried about security, don’t be! We offer the same security as we do with online banking, and experts have never seen a breach of mobile banking data. Even if you lose your device, your password will protect your account until you can disable your phone.

    Stop by a Westmark Credit Union location to sign up for mobile banking, or join online. You can get answers to all of your questions about mobile banking and all of the other services we provide at our Idaho Falls credit union by calling (208) 523-1071.

    How Credit Unions Compare to Banks

    Last updated 17 days ago

    What are the differences between banks and credit unions? There are many, but the biggest one is that credit unions are non-profit institutions with unpaid boards of directors, unlike banks, which are profit-driven. That difference in structure translates into financial benefits for consumers.

    Watch this video to learn how credit unions can help you get the best deals on loans and savings. Because credit unions don’t have to generate profits, they can usually offer lower interest rates when you’re borrowing money and higher rates on your savings. Over time, these differences can make a big difference for your financial picture. 

    Before you borrow or deposit money at a bank, visit Westmark Credit Union in Idaho Falls to learn about our competitive rates and find out how you can become a credit union member. For more information, visit our website or call us at (208) 523-1071.

    Go Paperless with our Online eStatements

    Last updated 28 days ago

    Your monthly or quarterly Westmark statement is available to view online.  Now you can access your eStatement anytime, anywhere through Personal Branch.  It's fast, secure, convenient, and free!

    • Go Paperless!  Choose to opt-out of receiving your printed statement in the mail.  eStatements are good for the environment and use less paper.
    • Conveniently retrieve your eStatements up to 2 years back.  It's quick and easy!
    • Receive a monthly notification in your secure inbox within Personal Branch when your statement is ready to view online.
    • Access 24/7 online, or print and save copies of your eStatements.
    • eStatements are available to all members and completely free!  All you need is an Online Personal Branch account.

    Tips for Switching to a Credit Union

    Last updated 1 month ago

    If you’re considering switching to a credit union, you’re close to reaping all of the rewards membership has to offer, from free checking to great rates on saving products. Because credit unions are non-profit and member-driven, they’re usually able to offer better rates on financial products than banks. As you’re weighing up your options, keep these tips in mind for making the switch.

    Check Your Eligibility

    Credit unions are only open to members, and to become a member, you have to meet the eligibility guidelines. However, there are few people who aren’t eligible to join at least one credit union—it’s simply a matter of finding the right fit. Look into credit unions associated with your profession or the organizations you’ve joined. In some cases, your home address is enough to make you eligible for membership in a credit union.

    Review the Financial Products

    Credit unions generally offer the same financial products as banks, including checking accounts, debit cards, savings accounts, and loans. However, if you need a specific service, make sure the credit union you’re considering offers it. In the rare instance that you can’t find what you’re looking for at one credit union, there’s a good chance that there is another credit union out there which offers it.

    Ask About ATM Usage

    One thing that used to give people pause about switching to a credit union was convenience. Because credit unions tend to have fewer locations and ATMs than banks, consumers were concerned that accessing their money would be difficult. Those days are gone. Credit unions now share nationwide ATM network locations so you can easily withdraw money, and many credit unions even share branch locations for added convenience. Additionally, credit unions generally offer online and mobile banking services so you can manage your accounts on the go.

    If you need help making the switch to a credit union, let Westmark Credit Union make it easy for you. Our representatives can walk you through the membership application process and help you get your accounts transferred. Start the process today by calling (208) 523-1071. 

Apply Online for a Credit Card or Credit Card Balance Transfer!

Start Saving with a 2.99% APR That's right, using your Westmark Credit Union balance transfer checks you can transfer your higher rate loans and cards from your other financial institutions to your Westmark Credit Card and save with a 2.99% APR until December 31st, 2013.

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