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When You Move Should You Switch Banks?3.09% 27-Month CD & 2.78% 12-Month CD at Wings Financial CU - Limited Membership
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POSTED ON BY Ken Tumin
Another good deal is the credit union's Wings Investment Money Market Account. It's a tiered rate account with a 1.92% APY for balances of $5K to $50K, 2.07% APY for balances of $50K to $100K and 2.22% APY for over $100K.
The above rates are listed in the credit union's savings rates sheet as of 10/02/09.
The downside to Wings is that membership is primarily limited to the air transportation industry. Please refer to the credit union membership eligibility page for the full details. (see note below)
Branches are located in California, Georgia, Hawaii, Michigan, Minnesota, Tennessee and Washington.
The credit union's ratings for safety and soundess are above average: 5 stars (superior) at BauerFinancial (based on 6/30/09 data) and 3 stars (performing) at Bankrate.com (based on 3/31/09 data).
Wings Financial is a large credit union with $2.1 billion in assets and 122,278 members. It's federally in insured by the NCUA (Charter # 24351).
Field of Membership is Expanding
Wings Financial just announced it will be expanding the field of membership. According to the credit union's bulletin, members voted to change the charter from a federal to a Minnesota state. This will allow Wings to expand the field of membership to include anyone living, working or worshipping in the 13 county Minneapolis/St. Paul metro area. The bulletin gives no date of when this new FOM will take effect. Unfortunately, they didn't add an easy-to-join association to their FOM.
Thanks to the reader who emailed me info on these rates and this FOM change.
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