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.

Banks vs. Credit Unions: Which Is Better for You?

Though similar, banks and credit unions differ in one key component: their ownership. Most banks are owned by shareholders who seek a return on their investment through profits and dividends.  Credit unions, on the other hand, are member owned.  They exist to serve the financial interests of all of their member owners. As non-profit institutions, any remaining funds at the end of the year go into lowering fees and improving services. Watch this video from CBS to gain more insight into the differences between banks and credit unions.

At Westmark Credit Union, we have provided dedicated financial services to members from throughout Idaho since 1954. To speak with one of our friendly representatives about the benefits of credit union membership, you can visit us at one of our 10 conveniently located branches in Idaho Falls, Pocatello, Blackfoot, Rigby, Rexburg, Eagle, Meridian and Nampa or call us today at (208) 523-1071.

Find Expert Financial Tips With These Resources

Young Couple With New House

From opening a savings account to obtaining your first mortgage, practicing smart money management throughout your life is important. Learn more about money management by exploring the following articles. For dedicated financial services in Idaho Falls, Pocatello, Blackfoot, Rigby, Rexburg, Meridian, Eagle and Nampa contact Westmark Credit Union at (208) 523-1071 or 1-800-574-5626.

Financial habits take hold during adolescence. Bestow good money management skills on your teen with these tips.

Adjustable-rate mortgages often come with lower initial rates, but they tend to be riskier. Learn more from HowStuffWorks.

Are you obtaining your first mortgage? MSN Real Estate has some helpful tips for starting off on the right foot.

Learn all about the different types of home mortgages from USA.gov.

Many young people struggle with financial literacy. Read about this growing problem from USA Today.

The Answers to Your Mortgage FAQs

Whether you are seeking your first mortgage or one of many, knowing the basic facts about how mortgages work is very useful. As you discuss a new mortgage with your Idaho Falls credit union, get answers to some of your questions about this common financial instrument by reading the following guide.

Luxury Home

What Is a Mortgage?

Very few people have the resources to purchase a home in one lump sum. Mortgages exist to spread this payment out over time. Using your new home as collateral, a financial institution will lend you a large sum to pay for it—usually around 80 percent of the purchase price. Most homeowners pay back this sum, with interest, over a period of 30 years.

What Are the Types of Mortgages?

For decades, a standard 30-year fixed interest mortgage was one of the only mortgage options available. Now, many people utilize 15-year mortgages to pay down their homes faster. Additionally, most financial institutions offer adjustable-rate mortgages as an alternative. These mortgages have interest rates that adjust every year. While ARM’s can be a good option for obtaining lower rates, they do come with a degree of risk. 

What Determines Interest Rates on a Mortgage?

The interest rates everyone pays on loans originate with the Federal Reserve. The Fed’s mission is to keep inflation and interest rates low and stable. When inflation becomes a concern, it raises interest rates. When the economy is struggling, interest rates go down. This is an important balance to consider as you choose between fixed-rate and adjustable-rate mortgages. Another factor that determines prospective homeowner’s interest rate is his or her creditworthiness.

If you’re interested in learning more about mortgages, talk to the financial experts at Westmark Credit Union. Serving Idaho Falls, Blackfoot, Pocatello, Rigby, Rexburg, Meridian, Nampa and Eagle, we are dedicated to securing the financial future of our members. Find out more about our mortgage services by calling (208) 523-1071.

How Westmark Credit Union Can Teach Your Kids the Importance of Money Management

These days, financial literacy is more important than ever. Bestowing good financial habits on your children now can make them great money managers throughout their lives. At Westmark Credit Union, we offer numerous ways to help teach your children about money management. Here are just a few of the services we offer:

Responsible girl putting money into piggy bank for future saving

Scottie Babies

At Westmark Credit Union, we provide a lifetime of financial services to our members. That’s why we offer an initial $10 deposit in every newborn baby’s savings account. All you need to bring is your baby’s name, date of birth, and Social Security number, and we’ll take care of the rest.

Scottie Savers Club

Who said money management couldn’t be fun? The Scottie Savers Club at Westmark Credit Union offers a great way to teach your children about saving, offering fun prizes along the way. Every child under 15 who signs up will receive a savings passbook, a dime and quarter saver book, and a Scottie Saver sticker. Later on, the prizes keep getting better as your child’s savings build up, from a pencil and notepad upon depositing the first $25 to a $20 Walmart gift card when their balances reaches $1,001.  Westmark also provides a link from our website to Yahoo Kids!  This is a fun and informational website for kids to play games or just learn.

Great Offers for Teens

While teaching small children money management is important, financial habits truly take hold in adolescence. To help you teach your teen about money management, we offer free checking accounts to teens over 16. Additionally, you can take advantage of a secured Visa credit card, held jointly by you and your teen. With a credit limit set between $500 and $1,000, you’ll be able to safely teach your teen about the importance of making payments on time to achieve a good credit rating.

Start your child’s financial future out right with a new savings account at Westmark Credit Union. From initial savings accounts to a first mortgage, we offer a lifetime of financial services to our members. Learn more about the benefits of membership by checking out our website at www.westmark.org, visiting one of our conveniently located branches in Idaho Falls, Pocatello, Blackfoot, Rigby, Rexburg, Meridian, Eagle and Nampa or by calling us at (208) 523-1071.

Understanding Financial Management Goals

In every financial decision you make, it is important to remember the fundamental goal of financial management: to enhance your rate of return with minimal risk. These separate goals can often play against one another, so a good money management strategy will help you find a way to balance them.

A good example of an investment with high returns and high risk is starting your own business. On the other hand, putting money in a savings account carries minimal risk, but also has a low rate of return. Get more financial insights by watching this video.

If you’re seeking the best ways to manage your money, contact Westmark Credit Union. We offer our members a range of financial options. Learn more by calling us at (208) 523-1071 or by visiting one of our conveniently located branches in Idaho Falls, Pocatello, Blackfoot, Rigby, Rexburg, Meridian, Eagle and Nampa.

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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