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.

Steps to Take to Avoid Credit Card Debt

When it comes to having healthy finances, knowing how to stay out of debt is essential. If you’re concerned about staying on track financially, then watch this video for some tips on avoiding common habits associated with credit card debt.

First, before you open a new credit card, make sure that you’ve read the fine print and that you understand all the terms. Second, create a budget and ensure that your credit card use fits into it. Third, check your accounts regularly to look for signs of errors or fraud. Next, set up payment reminders or automatic payments to avoid missing payments. Also, you should try to pay off the balance each month, keep an eye on your credit usage, and avoid impulse buying.

If you’re interested in improving your personal finances in Idaho, then please call Westmark Credit Union at (208) 523-1071 for information about our services and resources.

Factors to Consider Before You Get an Auto Loan

A car loan can be an excellent resource if you wish to purchase a new vehicle but need help with financing. However, before you apply for one of these loans, you can benefit from considering the following factors:

Financing Options

When applying for an auto loan, you can do so through a dealership or a lending institution, such as a credit union or bank. Dealership financing involves entering a loan contract with the car dealership that you’re purchasing from. If you opt for direct lending through a lending institution, then you will apply for a car loan and use the loan you receive to purchase a vehicle. Both options have their own advantages. In either case, you should shop around for the best rates before applying for a car loan.

Term Length

When it comes to loans of any kind, the shorter they are, the less you’re likely to pay in the end. The reason for this is that you will continue to pay interest to the lender on top of the amount of the loan until it is paid off. Additionally, interest rates for longer loans tend to be higher. Because of these factors, it can be advisable to get a loan that is as short as you can comfortably afford.

Down Payment

Many people are attracted to car loans that require no money down. However, because of the interest that you’ll pay over time, the less you put down up-front, the more you will pay in the long run. Also, if you’re thinking of buying a new car, remember that these vehicles depreciate as soon as you take them off the lot, and you may temporarily owe more than it is worth. For these reasons, you may be better off putting down some of the car’s cost up-front.

At Westmark Credit Union, we offer several options and terms for auto loans in Idaho. If you’re planning to purchase a new vehicle, then call us today at (208) 523-1071 for details about our auto resources.

Spotlight on Our Easy Account-to-Account Transfers

Account transfers are easy with Westmark Credit Union’s Account-to-Account, or A2A, system. If you have money at a financial institution, transferring funds between accounts only requires a few clicks.

To use A2A, you must have an active Westmark Credit Union checking account. You must also sign up for Personal Branch and use online bill pay. To set up an A2A transfer, you will need your account number and routing number from the other financial institution. Once the account is verified, you can transfer money between your accounts using the Bill Pay tab in Personal Branch. You can opt to set up a one-time transfer or set up a recurring transfer. Typically, transfers are completed the next business day.

A2A is just one way that Westmark Credit Union makes managing your personal finance easy and convenient. You can learn more about all of the perks of membership in our credit union in Idaho by calling (208) 523-1071.

Setting a Budget for a New or Used Car

Along with a house, a car is likely to be one of the biggest purchases you will ever make. Just like when you’re buying a house, it’s essential for you to set a realistic budget for yourself when you are car shopping, so car loans don’t sink your personal finance goals. Whenever you’re looking for a loan, sitting down with a credit union representative is a good way to get an understanding of your options and advice on fitting a car payment into your budget. These steps will help you stay in control of your budget while you’re car shopping.

Know Your Take-Home Pay

If you don’t already know exactly how much money you make each month, calculate it. Generally, your car payment shouldn’t exceed more than 20% of your take-home pay. However, you may need to spend less, depending on your expenses. After you know your take-home, run the numbers on your other monthly expenses to see what you have left over. When you have an idea of how much money you can spend, try to shop for a car that costs less than that figure, so you have some financial flexibility for emergencies.

Consider the Cost of Car Ownership

Whether you’re buying a new or used car, remember that the car payment is just one of the costs of ownership. Gas, car repairs, insurance, and parking are all additional expenses you’ll have to pay. Check with your insurance company to see what the car you’re eyeing would cost to insure. Consider the gas mileage of the car you’re looking at and how many miles you typically drive. In terms of repairs, used cars will have lower payments but will need more service. New cars may be under warranty, so you won’t be out of pocket for most repairs, but the monthly payments will be higher.

Determine Your Down Payment

Factor the car down payment into your budget. In addition to the down payment, there will be other dealer fees that are due upfront. Talk through all of these fees with the dealership before signing a deal, so you can add them into your budget.

Westmark Credit Union offers competitive rates on car loans in Idaho for both new and used purchases. Let one of our representatives help you set a realistic car budget today by calling (208) 523-1071.

Why You Should Choose Our Credit Cards

When you pick a credit card, the interest rate is one of the most important factors you should consider. Usually, a credit union can offer more competitive rates than other institutions, because they are nonprofit groups with the ability to reinvest their earning into products for their members.

Watch this video to see how Westmark Credit Union can help you take control of your personal finances with a low interest credit card. Our representatives can help you pick a card that is right for your needs, so you can continue moving towards your financial goals.

To find out more about Westmark Credit Union and how we can provide you with financial help in Idaho, stop by a branch or call us. Dial (208) 523-1071 to speak to a representative.

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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