Dec, 31, 2023 — WINGS FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in APPLE VALLEY, MN with 36 branch locations and about $9.60 billion in total assets. Opened 86 years ago in 1938, WINGS FINANCIAL CREDIT UNION has about 364,186 members and employs 808 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | WINGS FINANCIAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 14985 Glazier Ave APPLE VALLEY, MN 55124 |
| Phone: | (952) 997-8000 |
| Fax: | (952) 997-8100 |
| Website: | https://www.wingsfinancial.com |
| Branches: | 36 branch locations |
| Members: | 364,186 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 68601 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1938 |
| Last Audited: | Dec 01, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $9,603,563,333 |
| CEO/Manager: | Frank Weidner |
| Chairperson: | JoAnn Harris |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 395,074,935 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 699,650 |
| Real Estate Loans | 5,162,790,590 |
| Unsecured Loans | 392,763,250 |
| Other Loans | 1,017,484,699 |
| TOTAL LOANS | 6,573,983,909 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -50,890,340 |
| Land And Building | 66,840,420 |
| Other Fixed Assets | 16,248,301 |
| NCUSIF Deposit | 62,152,916 |
| All Other Assets | 4,327,404 |
| TOTAL ASSETS | 9,603,563,333 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,154,863 |
| Notes & Interest Payable | 1,905,034,879 |
| Accounts Payable & Other Liabilities | 115,810,737 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,413,019,485 |
| Regular shares | 1,076,000,740 |
| All Other Shares & Deposits | 4,277,534,517 |
| TOTAL SHARES & DEPOSITS | 6,766,554,741 |
| TOTAL LIABILITIES | 8,790,229,400 |
| Regular Reserve | 0 |
| Other Reserves | -248,082,246 |
| Undivided Earnings | 1,061,416,179 |
| TOTAL EQUITY | 813,333,933 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 9,603,563,333 |
| INCOME & EXPENSE | |
| Loan Income | 284,730,340 |
| Investment Income | 59,936,398 |
| Other Income | 16,242,932 |
| Total Employee Compensation & Benefits | 98,245,529 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 78,019,169 |
| Non-operating Income & (Expense) | 1,141,115 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 24,463,691 |
| Cost of Funds | 158,031,948 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 62,865,319 |
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