Wings Financial Credit Union

Wings Financial Credit Union Overview

Wings Financial Credit Union is located in Apple Valley, MN. The organization was established in 1944. According to its NTEE Classification (W60) the organization is classified as: Financial Institutions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2019, Wings Financial Credit Union employed 654 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Wings Financial Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.

For the year ending 12/2019, Wings Financial Credit Union generated $245.9m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.6% each year . All expenses for the organization totaled $165.1m during the year ending 12/2019. While expenses have increased by 9.6% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2019

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

AS A STATE CHARTERED CREDIT UNION WE PROVIDE A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. THE CU HAD 167,157 LOANS OUTSTANDING AS OF 12/31/19 WITH BALANCES OF $3,945,115,623.


AS A STATE CHARTERED CREDIT UNION WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. THE CU HAD 609,097 MEMBER ACCOUNTS WITH DEPOSITS OF $4,509,588,633 AS OF 12/31/19.


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Wings Financial Credit Union Board, Officers & Key Employees

Wings Financial Credit Union Vendors

Vendor Name (Service)Compensation
The Bainey Group Inc
Construction
$2,062,059
Rum Construction Llc
Construction
$2,605,618
Ispace Furniture Inc
Office Furniture
$1,421,373
Case Financial Inc
Atm/ptm Maintenance
$1,377,486
Pscu - Ach
Visa Processing
$7,575,275
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$193,185,676
Investment income $48,643,888
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $2,401,067
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $245,858,767

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