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.

Deciding Whether to Buy or Build Your Dream Home

When you’re ready to invest in your dream house, should you buy one already on the market, or should you start from scratch and build your own home? There are many factors to consider, including the loans you will need for each type of purchase. Which choice is right for you? Here are some of the things you should consider when you want to make the move to your dream home.

Timing

If you are in a rush to move, then building a home may not be the right choice. Building is a lengthy process that requires finding a lot and making a decision about every aspect of the home, down to the last light switch. When you are under pressure to move quickly, moving into an existing home is a much faster option.

If you don’t have to move quickly, then taking the time to build a house means that you won’t have to compromise on any of the features, since you’ll be choosing them all yourself.

Financing

To buy a home, you will need a mortgage loan from your credit union. To build a home, you will need a construction loan to cover the cost of building the home. At Westmark Credit Union, to be approved for a construction loan, you will need to have a home site and be working with an approved building. If you wish to build a home but don’t own a home site, then you may need additional financing for that as well.

Because of the additional loans required, building a home is generally more expensive than buying a home. However, you may recoup more of your investment in the long run, because the home you built will be more up-to-date when it is time to sell than a pre-existing home you purchase.

Preference

For many people, the decision comes down to preference. If you dream of having a home you’ve designed from the group up, building is the perfect fit. If you’re willing to compromise part of the vision for convenience, then choose a pre-built home.

Westmark Credit Union can help you get into your new home with competitive rates on loans in Idaho, whether you’re buying your first house or your dream house. Learn more by calling (208) 523-1071.

How to Check Your eStatements for Signs of Identity Theft

At Westmark Credit Union, we are committed to protecting your personal and financial information. We use the highest caliber security setting across all of our online and mobile banking accounts, but identity theft can happen in a number of different ways, and when it does, your money could be at risk. Fortunately, if you are vigilant about checking your eStatements, you can often catch identity theft early so that you can minimize the risk.

The biggest red flag that you have been the victim of identity theft is transactions you don’t recognize. Don’t necessarily expect your accounts to be emptied out. Look for small transactions that could easily go unnoticed if you don’t examine your accounts carefully. Also look for suspicious activities, such as logs of account log-ins you don’t recognize, password issues, and new credit accounts attached to your existing accounts.

If you do see any signs of identity theft, contact Westmark Credit Union right away. We can help you take the right steps to preserve your finances and protect your online banking accounts. To contact our credit union in Idaho, call (208) 523-1071.

What to Consider When Purchasing an RV

If you’re ready to enjoy cross-country adventures in an RV, there are a few things to consider before making your purchase, from the floor plan to how you’ll finance the vehicle. Be sure you get the right RV at the right price for your family by considering these factors while you shop.

Budget

Set your budget for your RV before you start shopping, so don’t fall in love with one that is outside of your price range. The costs of RVs vary dramatically depending on the size of the vehicle, whether you buy new or used, and the features that are included. Your credit union can help you understand your finance options and look at monthly payments for different price points to allow you to make a decision that works for your family. Don’t forget to include upkeep costs in your budget, and make sure you are reserving enough money to actually get out on the road and enjoy your RV.

How You’ll Use It

Considering how you’ll use your RV can help you narrow down your selections. If you only plan to use your RV for a few weekend trips here and there, then you may be able to get by with a smaller, more basic model than if you plan to live out of your RV for months each year while you’re traveling the country. Some RVs offer only modest facilities and little space, while others have floor plans that rival apartments. Think of how you’ll use your RV before buying one to be sure you get the right model.

New or Used

As with purchasing any kind of vehicle, you have the option of buying a new or used RV. New RVs come equipped with all of the latest features and conveniences, but used RVs can be more affordable. Don’t forget to talk to your credit union about how purchasing a new or used RV could impact how you finance the vehicle.

When you’re in the market for a vehicle loan in Idaho, talk to Westmark Credit Union to find out about our competitive rates. We offer financing for RVs and other recreational vehicles and can help you choose the right loan for your budget. To find out more, please call (208) 523-1071.

Conquer Your Credit Card Debt

Credit cards can be helpful tools in managing your finances, but if your debt piles up, they can also jeopardize your credit score and your ability to get car loans, mortgages, and more in the future. If you feel like you are drowning in credit card debt, this video can help.

If you have a card with a high interest rate, talk to your credit union about transferring your balance to a card with a 0% interest introductory rate, which could save you a significant amount of money. If your debt is spread across multiple cards, focus on paying off your highest interest debt first.

If you feel overwhelmed by credit card debt, talk to a representative at Westmark Credit Union for help in creating a personal finance strategy to get your balances under control. Contact our credit union in Idaho today by calling (208) 523-1071.

How to Help Your Teen Manage Summer Earnings Wisely

When teens get summer jobs, they often envision spending their paychecks on fun times with friends and a new summer wardrobe, which leaves parents wondering how involved they should become in helping their teens manage that income more wisely. If you are a credit union member, consider helping your teen open up a youth bank account that lets him or her get used to money management with some help from you. This advice will also help you take guide your teens through managing their summer earnings.

Start the Conversation

Start out by talking to your teen about his or her ideas about money management. You may find out that your teen already has some thoughts about the money that are in line with your own, such as saving a portion of every check towards a specific goal. Don’t lecture your teen if he or she is thinking about blowing through the money. Instead, offer some suggestions for how your teen can get the things he or she wants in both the short and long-term by creating a budget and using both a checking and savings account.

Create a Plan

For teens, getting into the habit of saving a portion of their income now can help them later in life. Talk to your teen about savings goals, from saving up for a car to putting money aside for college. Saving a percentage of each check can help teens become accustomed to saving before they begin spending any of their money.

Set an Example

Your teen gets most of their understanding of money management from you. Set an example by managing your own finances carefully. Share some of the decisions you make about your money with your teen so he or she can learn from the strategies you use.

At Westmark Credit Union, we offer a variety of accounts for teens, including checking and savings accounts and credit cards. Make an appointment today to come in with your teen and talk about financial goals with one of our representatives. Dial (208) 523-1071 to reach our credit union in Idaho.

Page 7 of 58 1 2 3  . . . 5 6 7 8 9 10 11  . . . 57 58   Next
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