Westmark Credit Union
We are a full-service financial institution, owned by our members & committed to the development of their financial future. We have 12 convenient locations.

Understanding Health Savings Accounts

HSAs, or Health Savings Accounts, allow you to put away money toward future medical bills. You can make contributions to this type of bank account for an individual, a married couple, or a family.

This video discusses some of the many benefits you can receive when you open a Health Savings Account with your credit union. All contributions you make to this flexible savings account are tax-free, and there is no deadline for using the money you put away, allowing you to pay out of pocket today for continued financial security in the future.

Westmark Credit Union’s Medical Savings Accounts can help you prepare for future medical costs. If you’d like to open a savings account in Idaho to cover your medical expenses, you can find out more about this process when you visit our credit union online or call (208) 523-1071.

How to Recover When Your Credit Takes a Hit

Your credit score is used to determine factors like the interest rates available to you on loans and the amount of credit you may be granted when you apply for a credit card. Thus, poor credit can hurt you in many ways, especially when you look to make large purchases. If your credit has suffered a hit, you are not saddled with a low score forever—there are several ways to improve your credit score for greater financial power.

Read Your Credit Report

When you know your exact credit score, you’ll know the best steps to take to improve it. However, credit reports are not always accurate—in some cases, resolved issues or even a mistaken identity can lower your credit score. The first step toward improving your credit score should be to request a credit report from each of the three major credit reporting agencies. Check each report carefully and compare them; if you notice discrepancies or inaccurate information, you can dispute it ensure your credit score is an accurate reflection of your current credit.

Minimize Your Outstanding Debt

A poor credit score is often the result of significant outstanding debt or a history of overdue payments. Thus, working to eliminate these factors can raise your credit score to a much higher value by demonstrating the financially responsible behavior that lenders want to see. Begin by paying as many bills as possible on time and in full, and reduce outstanding debt by keeping purchases to the essentials so you aren’t carrying a significant—or any—balance on your credit card from month to month. If you’re having trouble repaying loans, discuss refinancing or other options with your lender to better manage these ongoing financial obligations.

While it does take time to improve your credit score, your credit union serving Idaho can help by providing you with the financial help you need. You can reach Westmark Credit Union by phone at (208) 523-1071 to discuss our financial services, or visit our website for additional details about our loans and banking options.

Establishing Long-Term Savings Goals

Short-term financial goals are those that you hope to accomplish within one or two years, such as building an emergency fund. Long-term savings goals could take years to achieve, but it’s important to get started as soon as possible. Setting aside even a small amount of money in a savings account at your credit union every week will allow you to accrue interest on that money over time.

Many people share similar long-term savings goals, such as purchasing a new or used vehicle, buying a home, saving for the kids’ college tuition, and saving for retirement. To make your goals actionable, consider how much time you’ll give yourself to accomplish each goal. Then think about how much money you’ll need at that point. Divide the total number of money you’ll need by the years you’ll take to get there. This is the amount you should save every year for that particular goal. You can break this total down further to your monthly and weekly savings goals.

Looking for attractive savings accounts in Idaho? Call Westmark Credit Union at (208) 523-1071 to request financial advice from a friendly representative.

What Young Adults Need to Know About Building Credit

For young adults, it can be difficult to establish credit history. This is often due to a lack of knowledge about how credit works. If you’re planning on moving out of the family home or you’ve already done so, you should take a few minutes to learn the basics of credit and how you can build a sound financial future. Your first step may be a visit to a local credit union branch to discuss opening your own checking and savings accounts.

Becoming an Authorized User

You might not be able to take out a credit card or a car loan right away. Having no credit history can be just as difficult to manage as having bad credit history. One way to get started is to ask your parents or guardians if you could become an authorized user on their credit card. As an authorized user, you could use the credit card responsibly and pay off your purchases every month. This allows you to “piggyback” on the primary cardholder’s good credit to begin building your own credit history.

Getting a Secured Credit Card

Another option is to apply for a secured credit card. This is different from a regular credit card. It requires that you pay a deposit toward your credit limit. The deposit serves as collateral. However, because of the recent passage of the CARD Act, your secured credit card issuer will need proof of your income if you are under the age of 21.

Checking Your Credit Reports

Some young adults may neglect to check their credit reports regularly, which increases the possibility that identity theft will go undetected. You are entitled to a free copy of each of your three credit reports once every 12 months. Scan your credit reports and make a note of any erroneous information that could be adversely affecting your credit score.

Westmark Credit Union offers a variety of financial products for young adults, including checking accounts, savings accounts, and car loans. At one of our credit union branches in Idaho, you can receive financial advice, check our current rates, and get started building your financial future. Call us at (208) 523-1071 today.

5 Reasons to Cash in on the Benefits of eStatements [INFOGRAPHIC]

Are you tired of running to the mailbox to check for your credit union statement? Are your file drawers bursting at the seams with years of paper statements, waiting to be shredded? These are just two of the reasons more and more people are going digital with their account management and embracing eStatements. With eStatements, you never have to worry about shredding papers to avoid identity theft or that your financial information could be stolen from your mailbox or delivered to the wrong house. Simply download your statement when it arrives in your inbox or view it online any time. Learn more about the safety, environmental, and time-saving benefits of online banking and eStatements for your checking account in this infographic from Westmark Credit Union. Our credit union in Idaho is committed to providing financial help so you reach your goals, with everything from convenient eStatements to mortgages and loans. Encourage others to embrace eStatements by sharing this information.

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2520 Channing Way
Idaho Falls, ID 83404

Hours of Operation:

  • Closed Sunday
  • 9:30 AM to 5:00 PM Monday
  • 9:30 AM to 5:00 PM Tuesday
  • 9:30 AM to 5:00 PM Wednesday
  • 9:30 AM to 5:00 PM Thursday
  • 9:30 AM to 6:00 PM Friday
  • 9:00 AM to 1:00 PM Saturday