Wings Financial Credit Union Review: The Regional Institution Offers a Full Range of Products


GOBanking Rates Score

Quick take: Wings Financial Credit Union has a lot to offer its customers, including no-fee accounts and high annual percentage returns. But its main appeal will be for residents who live within the credit union’s limited geographic reach, which primarily encompasses the Minneapolis-St. Paul, Minnesota.

  • Costs
  • APY
  • Product range
  • Account minimums

How did we calculate this?


  • Free Chequing, Savings and Money Market Accounts
  • Remunerated current account
  • high performance CDs
  • High yield savings account with robust APY

The inconvenients

  • Limited geographic scope
  • Low APY for her stock savings account

About Wings Financial Credit Union

Wings Financial Credit Union was founded in Minneapolis in 1938 by seven Northwest Airlines employees. It now has over $7.5 billion in assets and over 320,000 members. Members have access to 27 branches in Minnesota, two in Michigan, and one in Florida, Georgia, and Washington. They also benefit from using more than 80,000 free ATMs nationwide.

The credit union offers a variety of checking, savings, money market, IRA, and CD accounts in addition to auto, home, and personal loans. GOBankingRates named it one of the Top 100 Banks and Credit Unions of 2022.

Verify Accounts

Wings Financial offers two types of checking accounts: First Class Checking Accounts and High Yield Checking Accounts. Both are interest-bearing accounts with no monthly service fees and a free bill payment service. Both carry a $5 minimum to open.

First Class Checking pays an APY of 0.01%. Members can also earn reward points with this account.

High yield checks earn an excellent APY of 1.76% on the first $25,000 and 0.01% on amounts over $25,000. It does not offer loyalty points. To earn the higher dividend rate, members must be enrolled in eDocuments, have an ACH direct deposit totaling more than $300 within 34 calendar days prior to the last day of the month, and have 15 net PINs or a point debit card. signature sale transactions over $5 within 34 calendar days prior to the last day of the month.

Savings accounts

Wings Financial Credit Union offers three primary savings accounts: Share Savings, High Yield Savings, and Money Manager Savings. None have monthly service fees. Share Savings has a minimum balance of $5 to open, while the other two accounts have no minimum opening requirement.

Share Savings and Money Manager Savings both pay an APY of 0.15%, with interest compounded and credited quarterly.

High Yield Savings offers progressive interest rates, with interest compounded and credited monthly. APY is 0.10% for balances up to $10,000; 0.30% for sales from $10,000 to $49,999; 0.35% for balances of $50,000 to $249,999 and 0.45% for balances of $250,000 or more.

Wings Financial also offers a Holiday Club account which pays an APY of 0.15%. Other savings products include a juvenile savings account, a Coverdell college savings account, and an IRA savings account.

Money market account

Wings Financial offers a single money market master account with no monthly fees. Interest rates are tiered, but you must have at least $5,000 in the account to earn interest. APY is 0.15% for balances of $5,000 to $49,999; 0.20% for sales from $50,000 to $99,999; and 0.25% for balances of $100,000 or more.


Certificates are the credit union equivalent of CDs, and Wings Financial offers certificates with terms ranging from three months to five years. It also offers a 12-month Add-On Certificate and a 5-year Step-Up Certificate. There is a $500 minimum to open. Members can get great rates on CDs, as long as they keep plenty of money in the account.

The APY for regular certificates varies by term and balance. It ranges from 0.15% for a three-month certificate with a balance of $500 to $9,999.99, to an APY of 1.36% for a 5-year certificate with a balance of $250,000 or more.

The 12-month supplemental certificate allows unlimited deposits of $50 or more for the initial term. It pays an APY of 0.45%.

The Step-Up certificate can be increased once, with the current rate for the standard 5-year certificate applying to the remaining term of the certificate. The current APY ranges from 1.06% for balances of $500 to $9,999.99 to 1.21% for balances of $250,000 or more.

How Wings Financial earned their scores


Wings Financial Credit Union charges no fees on its basic bank accounts, including checking, savings, money market, and CD accounts. But some of its other fees can get expensive, like a $30 overdraft fee per item and a $30 stop payment fee per check. Bank transfers cost $30 for domestic flights and $50 for international.


Wings Financial offers some of the best rates you’ll find anywhere, including 1.76% for high-yield check balances up to $25,000; up to 0.45% for High Yield Savings; and 1.36% for a 5-year certificate with a balance of $250,000 or more.

Product range

Wings Financial Credit Union may be a regional institution, but it still offers a full range of banking products that most customers need, including checking, savings and money market accounts, CDs, IRAs, credit cards and loans.

Account minimums

There is no minimum balance requirement to open a checking account or a high yield savings account. But you must have at least $5,000 in the money market account to earn interest, and certificates have a $500 minimum to open.

Editor’s Favorite

Two of the main strengths of Wings Financial Credit Union are the robust APYs available on its current account and high yield certificates and the absence of fees on most basic bank accounts.

Wings Financial Credit Union vs Competitors

It’s a good idea to consider all of your options before choosing a financial institution. Here’s a look at how Wings Financial compares to a few of its competitors.

wings credit union High APYs and low fees for customers in its service area
Central Minnesota Credit Union Many options for personal and business accounts
Allied bank A wide range of products for online banking customers
Federal Naval Credit Union Very high level APY for those with ties to the US Armed Forces, Department of Defense and National Guard

Wings Financial Credit Union vs. Central Minnesota Credit Union

Central Minnesota Credit Union offers a wider range of business accounts and solutions, but Wings Financial gets the green light for higher APY on its high-yield checking account.

Wings Financial Credit Union vs. Ally Bank

Ally offers more products than Wings Financial, especially in terms of investment options, but it can’t match Wings Financial when it comes to high-yield verification rates.

Wings Financial Credit Union vs. Navy Federal Credit Union

Even Wings Financial can’t match the 3.00% APY offered by Navy Federal on its special EasyStart certificate. However, you must have direct ties to the Armed Forces, U.S. Department of Defense, or National Guard to join the Federal Navy, which means many residents of Wings Financial’s service area will not be eligible.

Final take

Wings Financial Credit Union has a limited geographic reach, and that’s a shame because the credit union has features that many customers would appreciate, ranging from no-fee accounts to high global APYs. Those who need more complex banking transactions, such as home loans or IRAs, will also find those available at the credit union, which elevates it above online banks with limited offers.

Wings Financial Caisse Populaire FAQ

Here are the answers to some frequently asked questions about Wings Financial Credit Union.

  • How to become a member?
    • You can join Wings Financial Credit Union by opening a savings account with a $5 deposit. Here are some ways to become a member:
      • – If you live or work in the Seattle-Tacoma, Detroit, Orlando, or Atlanta metropolitan areas, or in an eligible county in Minnesota or Wisconsin
      • – If you or a member of your immediate family are employees of airlines, government agencies working with the aviation industry or work directly at an airport with air cargo, air mail or air transport
      • – If your immediate family members are current members of Wings or members of the Wings Financial Foundation
  • Is Wings Financial FDIC insured?
    • No. However, depositors are still protected up to $250,000 through the National Credit Union Administration. The only difference is that FDIC insurance applies to banks and NCUA insurance applies to credit unions.
  • Does Wings Financial Credit Union offer free money to open an account?
    • Wings Financial Credit Union occasionally runs promotions offering free money for opening an account. Its most recent, which offered a $300 verification bonus to new members who open an account at a branch, expired on December 31, 2021.

Vance Cariaga contributed reporting for this article.

Rates are subject to change; unless otherwise specified, prices are updated periodically. All other account information is accurate as of January 12, 2022.

This content is not provided by Wings Financial Credit Union. Any opinions, analyses, criticisms or recommendations expressed in this article are those of the author alone and have not been reviewed, endorsed or otherwise endorsed by Wings Financial Credit Union.

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About the Author

After earning a BA in English with a business major from UCLA, John Csiszar worked in the financial services industry as a Registered Representative for 18 years. Along the way, Csiszar earned the Certified Financial Planner and Registered Investment Advisor designations, in addition to being licensed as a life insurance agent, while working for a major Wall Street distribution house. and for his own investment advisory firm. During his tenure as an advisor, Csiszar managed over $100 million in client assets while providing personalized investment plans to hundreds of clients.


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