Wings Financial Credit Union

Wings Financial Credit Union
Credit union
Industry Financial services
Founded St. Paul, Minnesota (1938)
Headquarters Apple Valley, Minnesota, United States
Area served
  • U.S. Air Transportation Industry
  • Minneapolis/St. Paul, Minnesota, Metro Area
  • Seattle/Tacoma Metro Area
Products Savings; Checking; Consumer Loans; Mortgages; Credit Cards; Investments
Website wingsfinancial.com

Wings Financial Credit Union is a non-profit, member-owned credit union headquartered in Apple Valley, Minnesota. With assets of more than $4 billion, the credit union serves employees in the air transportation industry including employees of AirTran Airways, Delta Air Lines, JetBlue Airways and others. Wings was chartered in 1938 and is regulated by the National Credit Union Administration (NCUA).

About the company

Wings provides financial services to the employees of more than 50 different airlines, many aviation support companies and every government agency that touches the air transportation industry. Wings operates 19 branch offices around the country including branches in Atlanta, Orlando, Memphis, Detroit, Minneapolis/St. Paul, and Seattle. Most offices are located at or near airports. Wings Financial also offers an ATM network of over 60,000 surcharge-free ATMs coast to coast. The credit union offers online services including membership applications, loan applications, account information and remote deposit. Wings Financial is the largest credit union based in Minnesota and is among the country's largest credit unions with over $4 billion in assets.

Company history

Wings Financial was founded in 1938 as the Northwest Airlines Employees Credit Union by a group of seven Northwest Airlines employees in St. Paul, Minnesota. Assets at the end of 1938 stood at $359. The credit union grew slowly and steadily over its first few years. Significant growth began after World War II as Northwest Airlines expanded across the country and across the Pacific. Between 1945 and 1949, the Credit Union grew nearly 500% in assets fueled by those returning from the war.

Subsequent years saw consistent growth from the credit union. The credit union passed $100 million in assets in 1984 and achieved the $500 million milestone in 1997. In August 2001, the credit union passed $1 billion in assets. In 2004, the credit union decided to expand beyond Northwest Airlines and open its doors to anyone employed in the air transportation industry in the United States. To reflect a changing membership, the name of the credit union was changed to Wings Financial Federal Credit Union.

Wings Financial has continued to grow and now has over $3.8 billion in assets. Wings Financial is the official credit union for JetBlue Airways, Sun Country Airlines, Omni Air International, Midwest Airlines and Allegiant Air. It also serves regional carriers Pinnacle Airlines, Mesaba Airlines, Republic Airways, Compass Airlines and Colgan Air. In total, Wings serves employees working for more than 50 different airlines.

In August 2009, members of Wings Financial voted to become a state-chartered credit union, extending membership to thirteen counties in the Minneapolis-Saint Paul area.[1]

In 2010 Wings announced a merger with City County Federal Credit Union of Minneapolis, doubling the number of branches it operated in the Minneapolis-St. Paul area and increasing its membership by 50%.[2] The merger was finalized in 2011.

Membership

Membership is available to most people employed in, retired from, or whose job directly supports the air transportation of people or cargo, immediate family members of persons engaged in such activities, and family members (including household relationships) of a current credit union member.

In addition, those who live or work in the 13-county Minneapolis/St. Paul Metro area and the Seattle-Tacoma area as defined below are eligible for membership in Wings Financial.

Membership Eligibility Details:

Once becoming a member, membership can be passed to family members.[3]

References

  1. ↑ Samaad, Michelle (October 27, 2009). "Wings Financial Officially Expands Membership". Credit Union Times. Retrieved December 24, 2009.
  2. ↑ Newmarker, Chris (July 20, 2010). "Wings Financial Federal Credit Union merging with City-County Federal Credit Union". Retrieved April 16, 2012.
  3. ↑ McGuire, Kara (October 26, 2009). "Credit Union Spreading its Wings". Minneapolis Star-Tribune.

External links

This article is issued from Wikipedia - version of the Friday, July 31, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.