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.

New Homeowners: Avoid These Common Mistakes

Buying a house for the first time is both scary and exciting. Fortunately, when you decide to get your mortgage from your credit union, you can count on low rates and financial advice that puts you first. Protect yourself from these financial pitfalls new homeowners often face, and you’ll be ready to sit back and enjoy your new home.

Understanding Your Mortgage

Before you sign your mortgage agreement, it is important that you understand it as clearly as possible. You should know the term of your loan, the interest rate, and how your payments are applied to both the principal and the interest. You should also understand the rules associated with your loan, from any penalties that are in place for paying your loan off early, requirements for insurance, and if your interest rate can increase in the future. You should also find out if any discounts are available, such as a discount for setting up automatic mortgage payments from your checking account.

Shop Around for Insurance

Homeowners insurance can be a costly expense that new homeowners don’t plan for in their budgets. Before you choose a policy, get quotes from multiple companies. Consider using the same company that you for other insurance policies, like auto insurance. Sometimes, these companies will offer discounts for people who use them for multiple policies.

Prepare for Additional Expenses

The cost of homeownership often takes new homeowners by surprise. When you are doing your budget, don’t only count the cost of your mortgage. You will also need money for home maintenance and repairs, furniture, moving expenses, and more. It can helpful to set up a savings account to set money aside every month for major expenses that could arise in the future.

At Westmark Credit Union, you’re a member, not a customer. Our staff is here to help you get the best rates on your mortgage plus to give you the financial advice you need to succeed as a homeowner. Contact us for more information about mortgages in Idaho as well as our other bank services by calling (208) 523-1071.

Still Writing Paper Checks? Remember to Balance Your Checkbook

Balancing your checkbook is the cornerstone of good financial management. It isn’t difficult to manage your checking account, but it does require some discipline. This video explains more.

To balance your check book, use a check register to record all of your deposits and purchases, including debit card purchases, online payments, and paper checks. Subtract your purchases from your balances each time you spend money so you know exactly what you have and won’t risk bouncing checks.

At Westmark Credit Union, we’re committed to helping our members achieve financial success with extensive banking tools and advice for money management. To learn more about our credit union in Idaho or to find out how to become a member, call (208) 523-1071.

Your Guide to Buying a Used Off-Road Vehicle

A used off-road vehicle can be a good way to get a quality vehicle at a great price. However, it is important to proceed with caution so that you get a vehicle in top condition that you can enjoy for years to come. When it’s time to finance your off-road vehicle, contact your credit union for an auto loan with competitive rates. Here is what you need to know about purchasing an off-road vehicle.

Ask the Right Questions

If you are buying a used off-road vehicle from a private seller, asking the right questions can help you avoid someone who is selling a vehicle that is not in top condition. Ask why they are selling the vehicle and try to decide if the answer makes sense. Talk to the seller for a while to get a sense if he or she is trustworthy. Ask if you can see a list of service notes on the vehicle to see if it has been well maintained and if there have been any major repairs made.

Look at the Engine Oil

Engine oil can be an indicator of who well the vehicle you are considering has been maintained. Oil that is extremely dirty can indicate a problem with other components in the vehicle, while oil that is very clean can also be a suspicious sign, especially if the vehicle is old. In this vase, extremely clean oil can be a sign that the owner has flushed out a system that is actually not in good condition.

Judge the Appearance

You may think that the aesthetics of the off-road vehicle is a non-issue, but while a beaten-up exterior may not have anything to do with how the vehicle functions, it can indicate that the previous owner was careless. A battered exterior should be a warning sign.

Westmark Credit Union offers competitive rates on auto loans in Idaho, as well as extensive financial products, from checking accounts to online banking. Call us at (208) 523-1071 for more information about our auto loans and how to become a credit union member.

Learning How to Use Mobile Popmoney

If you’ve ever struggled to split a bill with a friend, send money to a family member, or pay independent service providers, like your dog walker, then you need Popmoney. Popmoney is a mobile banking service that easily lets you transfer money from your Westmark Credit Union account to another person with a few clicks. Forget inconvenient trips to the ATM or long-overdue IOUs. With Popmoney, sending money is easier than ever.

To use Popmoney, visit your online banking page and click on the bill pay tab to enroll in the program. You can also enroll in online banking and download our credit union mobile app. From the mobile app, you can start sending payments by clicking on payments and then pay other people. Your recipient will need a Popmoney account from Westmark Credit Union or his or her own bank.

Popmoney is just one way that Westmark Credit Union is making personal finance management easier for our members. To find out how to join our credit union in Idaho or to learn about our other services, please call (208) 523-1071.

Questions to Ask Yourself Before Buying a Car

Buying a car is one of the largest purchases most people ever make, which can make the process intimidating. The best way to make sure you get the right car with the right car loan is to do your research before you visit the dealership. Your credit union can be helpful in assisting you as you explore car loans and decide how much you can afford to pay. Asking yourself these questions before you go car shopping can also help you make a smart decision with your car purchase.

How much can I afford to spend?

The monthly payment is what most people focus on when they buy a car, but while that is certainly a significant factor, it is only part of the true cost of car ownership. Don’t forget to calculate the upfront costs, such as a down payment and titling fees, as well as the costs of insurance and car maintenance. Cars have drastically different ownership costs, so rather than basing your calculations on your current car, look for model-specific information.

Where can I find the best loan?

Car loans depend on a number of factors, from the type of car you are buying to your credit score. It’s important to find the lowest rate possible, as it could save you thousands over the life of your loan. Generally, your credit union can offer the most competitive rate, as all income generated from financial products gets reinvested back into member services.

Should I buy new or used?

There is no answer that fits every car buyer, so consider things like your budget and your preferences. Buying a used car can be a sound financial decision, depending on the price, mileage, and reliability of the care, while new cars often come with cost-saving incentives. Some people simply prefer to drive new or used. Explore all of your options before making a decision.

At Westmark Credit Union, we’re dedicated to helping our members make the best financial decisions possible when considering loans, mortgages, savings accounts, and more. Get answers to your questions about car loans in Idaho by calling (208) 523-1071.

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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