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We have engaged FORVIS, LLP (Attn: Jeff Rosno, 1801 California Street , Ste. 2900, Denver, CO 80202) to perform member verifications. Kindly compare the balance of your accounts on your December 2022 statement WITH YOUR RECORDS. If balances do not agree, please address your discrepancies directly to FORVIS, LLP. Include your name, truncated account number, and an explanation of the difference noted.  A reply is not considered necessary unless a difference is noted.

Friday, March 15: the Kirtland CU branch on KAFB is CLOSED. We apologize for any inconvenience. Please visit our nearest Gibson branch for assistance.

Kirtland Credit Union will never ask you to provide, update, or verify personal or account information through an unsolicited email, phone call, or text message. If you receive an unsolicited email, phone call, or text message, DO NOT RESPOND. Notify us at (505) 254-4369 or 1-800-880-5328.

Online and Mobile Banking are intermittently unavailable. We are working to resolve the issue and apologize for any inconvenience.

Concerned about how a government shutdown may impact you? Call us at 1.800.880.5328 to discuss your needs.

Welcome To The Insighter!

Explore the latest happenings at Kirtland CU and learn about important topics from around the financial world. Here’s your insight! To learn about retirements, investments and financial planning, check out Invested now.

Debt Consolidation: What Is It…and Why?

By Ashleigh, K-Staff


The holidays are spending season for most Americans, and the pandemic hasn’t changed that for the most part. In 2019, the average gift-buyer in the United States spend just under $1,000 for gifts, decorations, food, travel and other holiday expenses, according to The Ascent research. Considering that in 2020 the average shopper planned to spend $998 on holiday purchases, according to the National Retail Federation (NRF), the pandemic hasn’t dampened holiday buying behaviors.

If you packed that spending onto a credit card (or several), the first priority in 2021 may be managing that debt. One tool for managing debts is consolidation—combining several debts into one balance with one monthly payment. This won’t lower your debt necessarily but having one payment instead of several could help you manage it.

There are many options out there for debt consolidation. Two of the most popular, balance transfer and a personal loan, both have benefits and considerations. Which is right for you? Well, let’s take a look.

What Is A Balance Transfer?

A balance transfer is the transferring of debt from one credit card to another, usually with a promotional rate on that transferred balance.

Some cards will offer a 0% rate on the transferred balance for a certain period of time. If you pay off the debt in that time, you will incur no further interest charges. However, if you aren’t planning on paying off the balance during the promotional period, the regular interest rate may make the switch less attractive. Additionally, it’s not unusual for cards to charge a balance transfer fee—up to 5% of the transferred balance in some cases—or carry an annual fee.

Kirtland FCU’s Independence Credit Card has no balance transfer fees, no annual fees, and if you transfer the balance by March 31, you’ll pay an interest rate as low as 2.99% APR* on the transferred balance.

Is a Personal Loan Better?

It depends on a lot of factors. One of the key features of a personal loan is the interest rate. There is no introductory period and, according to, rates range between 5.99% and 35.99% APR* on average. Some personal loans will require an origination fee as well.

If the rate on your personal loan is lower than you can get on a credit card and you aren’t able to pay off the balance before the promotional period ends and a significantly higher rate kicks in, it’s worth exploring your options. 
Here’s a quick comparison at the difference in the two options (source:

Balance Transfer Credit CardsPersonal Loans (Installment Unsecured)
FeesBalance transfer fee of 0%, 3% or 5% of the amount transferredOrigination fee of 0% to 8% of the loan amount
Credit limit or loan amount$300 to $15,000+$1,000 to $100,000
Interest ratePotential introductory balance transfer APR during a set period of time, then a regular balance transfer APR that’s variable and subject to change as the prime rate changes5.99% to 35.99% APR

See current Kirtland FCU rates.

A balance transfer is a great way to lower the number of payments you have each month and reduce the amount of interest you’re paying on those high-balance credit cards.

Ready to take advantage of Kirtland FCU’s balance transfer with the Independence Credit Card? Get started today!

*APR = Annual Percentage Rate. Annual percentage rate and balance transfer rate is based on credit history and other factors. If you do not qualify for the type of card for which you have applied, you may be offered credit under different terms and conditions. The special balance transfer promotion is valid on transferred balances conducted between January 15, 2021, and March 31, 2021. Balances transferred to your credit card by March 31, 2021, will remain at the introductory promotional rate until your December 2021 statement cycle. On your January 2022 statement, all remaining balances will convert to your current Annual Percentage Rate. APRs for purchases and cash advances may vary. Balance transfers cannot be used to pay off existing Kirtland FCU loans or credit cards. For more information on balance transfer, please call 1.800.880.5328. Information accurate as January 15, 2021 and is subject to change. Membership eligibility required.

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Online, Mobile, and Telephone Banking will be unavailable on Sunday, December 17 from 12:00-5:00 a.m. MST.