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.

Choosing the Right Business Account

As a small business owner, you are probably always thinking about the bottom line of your business, but you should also think about where you keep your profits once you earn them. With the right business checking and savings accounts in Idaho, you can rest assured that your business is able to grow with the right financial support behind it.

Seeking a business account with a credit union is a smart choice, because this will allow you to receive more personalized, dedicated attention for your accounts. You may also have easier access to loans and investment products that will provide your growing business with working capital. Along with personalized service, you should seek features for your savings and checking accounts including online banking, eStatements, and corporate credit cards.

Westmark Credit Union can provide your business with the dedicated financial services you need in Idaho. We have several branches across the state ready to serve you. Learn more about the services we offer to small business owners by calling (208) 523-1071.

FAQs About Personal Loans

Unexpected expenses and big purchases can leave you without the funds you need to keep your life in order. Fortunately, there are many options that you can explore with your local credit union to get your finances organized while building your credit. Personal loans are one way to get the advance you need for a big purchase or financial emergency. By seeking a personal loan through your credit union, you can avoid extra fees and headaches with the loan application process, which is simple and straightforward at Westmark Credit Union. To learn more about personal loans, look at these commonly asked questions about personal lending.

What can I use a personal loan for?

Unlike auto loans and mortgages, personal loans allow flexibility in how you spend the funds you borrow. Usually, personal loans are for smaller amounts of money, and they are taken out to cover the costs of major vacations, auto repairs, new furniture, home repairs, and other large expenses that might be hard to fit into your monthly budget.

What are the types of personal loans available to me?

Personal loans may have varying terms of 12-48 months, and they may be taken out for sums as low as $1,000. In addition to loan advances, you might explore a personal line of credit, which is accessed through your checking account. With a line of credit, you will have a set limit of funds you may borrow by visiting the teller window at your credit union. You may elect to pay this off in monthly installments as you would a traditional personal loan.

How much interest will I pay on a personal loan?

The exact interest rate you will pay on a personal loan depends on many factors, including your credit history, the sum of the loan, the type of loan, and the market conditions. In addition, you may end up paying less interest over the life of the loan if you pay it off early or make larger initial payments.

To discuss your financial needs in Idaho, connect with Westmark Credit Union today by calling (208) 523-1071. We have branches conveniently located around the state, offering local banking services for those who live or work in Idaho.

How to Kickstart Your Retirement Plan

Retirement is one of the biggest and most complex personal finance issues most people face. Your credit union can help you make smart decisions regarding your retirement savings. This video can also help you get on the right path to build your nest egg.

The key to saving for retirement is to simply start, even if you can’t afford to save a lot. Think outside of putting your money in a traditional savings account and instead use retirement savings accounts, like IRAs and your employer’s 401(k) program.

Let the personal finance experts at Westmark Credit Union help you make a plan for preparing for your retirement that fits your lifestyle and your budget. You can contact our credit union in Idaho today at (208) 523-1071.

What Services Can You Pay for From a Medical Savings Account?

Medical savings accounts let you reserve a portion of your pre-tax income to pay for medical expenses. With a medical savings account, or MSA, from Westmark Credit Union, you can deduct up to $10,000 of contributions to your MSA from your Idaho state taxes each year. If you are married, your spouse can open a separate account for combined deductions of up to $20,000.

The money in your MSA can only be used for specific medical expenses. These include health insurance premiums, hospital care, prescriptions, dental services, ambulance services, lab fees, physician visits, and nursing services. You must keep records of all of your medical transactions so that you can prove that the money you spent was used for qualified medical costs.

MSA accounts can be a cost-saving part of your overall personal finance plan. Let Westmark Credit Union help you set up this savings account in Idaho so you can make your money work for you. Contact our credit union for more information by calling (208) 523-1071.

Is a Personal Loan Right for You?

Personal loans allow you to pay for unexpected expenses or make large purchases without relying on a high-interest rate credit card. Should you consider a personal loan? Here are some of the signs that this kind of loan could be right for you.

You have an unexpected expense.

Things like a broken-down car or a medical emergency can be financially devastating if you are short on cash to pay the bill. Even if you have credit cards you can use to charge the costs of unexpected expenses, the interest rates on credit cards will make your final cost much higher. With a personal loan, you can pay for these expenses without using your credit card. You reap the benefits of the lower interest rates that come with a personal loan, so the final costs will be much more manageable.

You have multiple monthly bills.

If you are juggling monthly debt payments across multiple credit cards, a personal loan can simplify your expenses and save you money. You can use a personal loan to pay off those bills in full and then simply make one payment each month on the loan. Dealing with your debt this way could save you thousands in interest and finance charges that you would otherwise face when paying off your cards. After you pay off your debt, resist the urge to run up your credit card balances again, so you don’t face both your loan payment and renewed debt.

You want to pay for a large expense.

Do you have the opportunity to go on a once-in-a-lifetime vacation or are you planning a wedding without the money to cover all of the costs? A personal loan can give you the money you want for a reasonable interest rate and simple repayment terms. Using a loan for large expenses rather than credit cards or store cards can save you a significant amount of money in the long-term.

To find out if a personal loan is right for you or to start an application, visit a Westmark Credit Union location or talk to a representative at our credit union in Idaho. Call (208) 523-1071 for more information or to set up an appointment.

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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