Whether you receive traditional statements in the mail or access electronic
credit union statements can be very helpful financial tools—so long as you know what to
look for. Before you can use these statements to your advantage, you must
first learn how to read your statements and know what important information
to look for. These tips will help you get started, but you can also get
additional financial help from your credit union in Idaho.
Start With the Summary
Near the top of the statement is an area that provides an overview of the
past month’s activity, including the opening balance, closing balance,
and any deposits, withdrawals, checks, and fees that accumulated over
the month. This is a great place to start to quickly see how you did during
the last month, financially speaking.
Look for Errors
As rare as they are, mistakes do happen from time to time. It’s important
that you comb through each and every detail of your statement looking
for errors such as unauthorized charges and fees that were charged more
than once. If you spot any errors on your statement, call your credit
union right away to have the issue resolved.
Identify Spending Patterns
One of the most beneficial ways to use your statements is to see where
and how you spend your money each month. Identifying
spending patterns can help you come up with a more accurate and realistic budget, which
can help ultimately help you take control of your financial success.
If you need help making sense of your statements,
Westmark Credit Union can help. We are committed to your financial success, and we’ll
do anything we can to help you take control of your finances. Visit one
of our 10 convenient locations in Idaho, or call us toll-free at (888)
575-8704 to learn how you can become a member at our credit union.