Dec, 31, 2022 — WINGS FINANCIAL CREDIT UNION is a federally insured state chartered credit union headquartered in APPLE VALLEY, MN with 33 branch locations and about $8.05 billion in total assets. Opened 85 years ago in 1938, WINGS FINANCIAL CREDIT UNION has about 343,844 members and employs 694 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: | 33 branch locations |
| Members: | 343,844 |
| 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, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $8,047,050,739 |
| CEO/Manager: | Frank Weidner |
| Chairperson: | JoAnn Harris |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 105,517,893 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 4,081,853,912 |
| Unsecured Loans | 309,942,476 |
| Other Loans | 923,282,943 |
| TOTAL LOANS | 5,315,079,331 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -59,796,655 |
| Land And Building | 64,956,723 |
| Other Fixed Assets | 15,304,496 |
| NCUSIF Deposit | 58,728,885 |
| All Other Assets | 2,333,059 |
| TOTAL ASSETS | 8,047,050,739 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 221 |
| Notes & Interest Payable | 906,883,503 |
| Accounts Payable & Other Liabilities | 74,879,005 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,335,443,079 |
| Regular shares | 1,285,659,330 |
| All Other Shares & Deposits | 3,814,707,789 |
| TOTAL SHARES & DEPOSITS | 6,435,810,198 |
| TOTAL LIABILITIES | 7,417,572,927 |
| Regular Reserve | 0 |
| Other Reserves | -329,334,337 |
| Undivided Earnings | 958,812,149 |
| TOTAL EQUITY | 629,477,812 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 8,047,050,739 |
| INCOME & EXPENSE | |
| Loan Income | 136,945,041 |
| Investment Income | 24,046,408 |
| Other Income | 11,524,312 |
| Total Employee Compensation & Benefits | 59,838,434 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 49,586,788 |
| Non-operating Income & (Expense) | 761,202 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 16,260,684 |
| Cost of Funds | 31,701,333 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 58,943,765 |
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