Credit Reports And Credit Scores

It’s easy to check your credit score, especially using a variety of online tools, but knowing what to do if you find something wrong on your credit report requires a bit of legwork that is worth the effort to help you protect your financial record.

First, by checking all three of the reporting agencies, you may find an error on just one. For example, one credit agency received an incorrect report of a credit union member as deceased, which certainly required a little effort to correct a credit report, but obviously made a big impact on a credit report. Look at all three agencies: Equifax, Experian, and Trans Union.

Second, know what your score means. Congratulations, your credit score is 715, but if you can improve it to 735 or 750, that can give you better options when it comes time to borrow. Your credit may be ideal for an auto loan, but if you’re planning for a 30-year mortgage, a little difference could mean a lot of savings in the long run. If you want to know how you can improve your score so you can plan for better interest rates of a larger line of credit, be sure to speak with a Dakota West loan officer at your local branch.

Third, if you’re young, start building credit sooner rather than later. If you have well-established credit and most of your debits are paid down, allow yourself to maintain lines of credit, even if you keep the balance paid off, to keep the credit rating you’ve worked hard to earn. Establishing credit and maintaining your credit go hand in hand to develop a long-term credit score that helps you reach your financial goals.

Let's Talk Mortgages

If you’ve ever gone through the process of buying a home, you may have one of the four most common types of home mortgages. But if you are considering buying your first home, or even starting to save for the down payment on a future home, it doesn’t hurt to talk to a home mortgage lender now to be sure you are headed on the right path towards home ownership.

Some of our branches have dedicated home mortgage specialists, such as Stef Russell in our Watford City branch and Jayne Pochant in our Washburn branch, but regardless of where your house may be, the expertise of our loan officers will help guide you along the path as you plan together for your biggest purchase: your first home.

Whether you are considering an FHA loan or a VA loan, whether you are building from the ground up, or your house will be rolling on to your piece of land, we want our members to plan and purchase a home that will be the warm and inviting location to raise a family, create memories, and spend your lifetime.

Let us help you get started today. Call your local branch and make an appointment with a loan officer to work together and be sure your plan for home ownership is growing forward.

To learn more about Dakota West Home Mortgages, click here.

Meet Todd Erickson

“I remember as a kid, they always had cookies. Getting to town was a big deal.”

Todd Erickson, our newest Loan Officer, recalled his first visits to his parents’ financial institution when they lived out in the country between Medora and Amidon in southwestern North Dakota. Now Todd is creating new memories for our members in our Washburn branch.

Todd attended Minot State University, studying Finance, Accounting, Economics, and Real Estate Finance and interning with a credit union before graduating with his Bachelors of Science in Business Administration. He attended high school in New England, giving him a nearly full-circle tour of the Dakota West region.

As a Loan Officer supporting agriculture and commercial accounts, Todd is already making the introductions throughout McLean County, as best as he can while keeping social distancing in mind. Nonetheless, his office door is already open and he is looking forward to the day when he can visit our members at their farms, or share a cup of coffee at Café 77.

For now, you can reach Todd at 701.444.7347 to schedule time to talk about your business, review your family’s financial plan, discuss a new boat loan, or even welcome him to the neighborhood – cookies optional.

Refinance Your Vehicle Loan And Save

You may be spending your "at home" time dusting off your fifth wheel or testing the motor on your boat, thinking about getting ready for the upcoming summer. Why not also consider polishing off your finances and getting a little extra money for your camping expenses by refinancing your existing loan?

Dakota West is offering 1% cash back up to $500 on new or refinanced vehicle loans, including RVs, boats, personal watercraft, and yes, even cars and trucks. . With competitive rates, Dakota West will make your summer plans more rewarding.

To get started, speak with one of our loan officers by calling 800.411.7590, or click “Borrow” from the above menu options. This offer is for a limited time, so make putting extra cash in your pocket a summer plan you can start now.

*1% Cash Back Rebate offer valid on consumer-purpose new money vehicle loans including auto, truck, recreational vehicles, campers, boats, motorcycles, all-terrain vehicles, personal watercraft, and snowmobiles, or refinances of any of the above vehicles from another financial institution. If refinancing an existing Dakota West vehicle loan, a minimum of $5,000 new money is required to receive the cash back rebate.

Rebate will be credited to member within 30 days of loan disbursement. The loan must remain with Dakota West for a minimum of 180 days or the rebate amount will be added to the loan upon payoff. No other offers or discounts apply, including rate discounts. Minimum vehicle loan amount is $5,000. The maximum cash back on consumer loans will not exceed $500 per financed loan. Dakota West reserves the right to amend, suspend, or discontinue this offer at any time.

APR = Annual Percentage Rate. All rates advertised are based upon the borrower’s qualifications and the loan amount.

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