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Financial Rates:
3.0
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Customer Service:
5.0
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Website Experience:
5.0
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Bank Fees:
3.0
Pros:
- Competitive interest rates on accounts
- Variety of accounts offered
- Low opening required amounts
- Only one account has a monthly fee
Cons:
- Must join credit union to open accounts
- Accounts have tiered interest rates
- Cannot open all accounts online
- High yield checking has requirements
What You Need to Know
Wings Financial accounts offer competitive interest rates. The checking account rates are competitive with online account rates. The savings and money market account offer rates that are lower than online accounts. These account interest rates are higher than typical bank rates.
A good variety of accounts are available through Wings Financial. They offer checking, savings, and money market account. Specific holiday savings accounts are available. They offer CDS, personal loans, and credit cards. Personal investment and insurance opportunities are available. Some business accounts are also offered.
Accounts with Wings Financial have low opening required amounts. The checking accounts require either $1 or $5 to open. The savings accounts do not have a required amount or require $5 to open. Each CD term requires $500 to open. The money market account does require $5,000 to open.
Only the World Class Money Market account has a monthly fee. That fee is $10 per month. To waive that fee each month you must keep an account balance of $5,000. No other Wings Financial accounts have a monthly fee.
Before you can open accounts with Wings Financial, you must first join the credit union. To be eligible to join requires living or working in Minnesota or Wisconsin county, or Seattle-Tacoma, Washington. Family members of Wings Financial members are eligible. Aviation workers are eligible. You can join Wings Financial Foundation to become eligible to join the credit union.
Some Wings Financial accounts have tiered interest rates. To earn the most competitive interest rate in the money market account requires a balance of $25,000. The investment MMA requires a balance of $100,000 to earn the best rate. The savings account requires $50,000 to earn the best rate. Wings Financial CDs requires $90,000 to earn the best rate.
Not all Wings Financial accounts can be opened online. Their special CDs require visiting a branch location to open. The high yield checking account requires a branch location to open.
You must meet requirements to earn the competitive rates of the high yield checking account. That includes making 15 debit card transactions over $5 and have a direct deposit over $300 each month. You must also sign up to receive e-Documents. If you meet these requirements, you earn the competitive interest rate. The competitive interest rate applies to account balances under $25,000.
Cool Things
Money Tracker
This is a financial management tool available through the Wings Financial website. Through this option, you can set goals, make budgets, and monitor your cash flow. You can set up account alerts to help keep you in your budget or keep you on track for your savings goals. You can access Money Tracker through the app or online.
Financial Education
Wings Financial website offers a section on financial education. Here you can find calculators to help with mortgage or auto loans. They offer savings, retirement, and debt calculators as well. You can get an online education or see what workshops or events Wings Financial is offering.
History
Wings Financial started in 1938 by seven Northwest Airlines employees. By 1959, their assets had grown from $500,000 to $3.7 million. In 1970, the credit union became insured through the NCUSIF. In 1997, they launched their website, and by 2001 their assets had grown to $1 billion.
In 2017, Wings Financial approved $1.2 billion in loans. This was a new record for the bank, and the first time more than $1 billion in loans was approved in a single year.
Today, Wings Financial has over 20 branch locations. Their assets total over $4.5 billion. They have more than 235,000 members.
Awards and Recognition
- Top Five Credit Unions in the Country by Bankrate.com in 2017
- Top Financial Institution in Minnesota by Money Magazine in 2017
- Named Top Employer in the Twin Cities by Minneapolis StarTribune from 2012-2017
Giving Back
Wings Financial awards scholarships each year to members or relatives of members. They award over $70,000 in scholarships to high school students. The Wings Financial website offers links to other avenues to help pay for college.
In 2017, Wings Financial donated $10,000 in toys and cash for Toys for Tots. Their employees volunteered 1,576 hours in one day for Wings Day of Service. They also packed over 143,000 meals for Feed My Starving Children.
Additional Benefits of Wings Financial
Wings Financial offers members access to over 60,000 surcharge-free ATMs. If you use an ATM not owned by Wings, you get ten free withdrawals per month. Once you exceed ten in one billing cycle, you will have to pay a fee.
Frequently Asked Questions
Yes. Wings Financial Credit Union is backed by the National Credit Union Association. The NCUA is an agency of the United States government. It protects funds deposited in credit unions, up to $250,000 per customer, per credit union. The money deposited in NCUA insured credit unions means money is backed by the full faith and credit of the United States government.
By checks, ATM or debit cards, electronic transfers, or bill pay. You can access your money by visiting a local branch location.
Yes. With the app, you can transfer money, view account balances, and apply for a loan. You can deposit a check and manage your debit and credit cards.
Only the money market account has a monthly fee. All other Wings Financial accounts are free to members.
Most Wings Financial accounts offer interest rates competitive with other online accounts. Only the money market account has a monthly fee. Most accounts have a low opening required amount. There are a good variety of accounts to choose from. To open an account with Wings Financial, you must become a member first.
Wings Financial offers security measures that comply with federal regulations. Their computers have safeguards. Their files and buildings are secure.
Most accounts offer competitive interest rates. The high yield checking account and high yield savings account offer competitive rates. These rates are much higher than typical bank rates. The money market account offers rates higher than typical bank rates. The MMA does not offer rates competitive with other online money market accounts.
Yes. Wings Financial offers some business accounts. Your business must meet the membership requirements to join and open business accounts.
The interest rates on some accounts are higher than typical bank rates. Some accounts cannot be opened online.
Yes. Wings Financial checking accounts earn interest. The high yield checking account offers the most competitive rate. To earn that rate, you must meet set requirements. Those include 15 debit card transactions, $300 in direct deposits, and electronic documents.
By phone, email, mail, or by visiting a local branch location. You can follow Wings Financial on Facebook, Twitter, Instagram, or YouTube.
Yes. Wings Financial accounts offer bill pay. The service is free if you pay at least three bills each month. If you do not make more than three bill payments each month, there is a fee of $5.95 per month.
Yes, at a local branch location or at an ATM that accepts cash deposits.
The first $200 of a deposit made at an ATM are available the same day. The rest of the deposit is available the second business day. If deposits are going to take more than seven days to become available, Wings Financial will let you know.
Yes. Money can be directly deposited into Wings Financial accounts.
Bank Contact Information
Wings Financial Credit Union14985 Glazier Avenue, Suite 100
Apple Valley, MN 55124-6539
1 (800) 692-2274, option 2
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| Savings (Rate as of 4/18/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| For APY | $1 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
| Savings (Rate as of 4/18/2024) | |
| APY | 5.00% |
|---|---|
| Rate | 5.00% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC Plus, no monthly fees and unlimited free external transfers | |
| Savings (Rate as of 4/18/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| For APY | $0 |
| Monthly Fee | $0.00 |
| Checkbook | No |
| Member FDIC | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own website where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.