Dedicated to Deposits: Deals, Data, and Discussion

2.78% 12-Month CD &t 3.09% 27-Month CD at Wings Financial CU in MN & Other Places with Limited Membership

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Wings Financial Credit Union
Update 11/14/09: The rates have fallen, but they remain very competitive. Please refer to the credit union's website for the latest rates.

Wings Financial Credit Union continues to offer several very competitive CD rates. In addition, they have expanded their field of membership beyond just the airline industry to include all those who live or work in the Minneapolis/St. Paul metro area.

The special 27-month CD and all of their standard CDs have competitive rates. Minimum deposit is $500. These are also available in an IRA. Below is the full list of CD rates as shown on the credit union's rate sheet as of 11/03/2009:
  • 1.96% APY 3 month
  • 2.37% APY 6 month
  • 2.78% APY 1 year
  • 2.98% APY 2 year
  • 3.09% APY 27 month (special)
  • 3.14% APY 3 year
  • 3.24% APY 4 year
  • 3.49% APY 5 year
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. These rates are listed as of 11/03/09.

The expanded field of membership just occurred last month. In addition to those connected to the airline industry, those who live or work in the 13 County Minneapolis/St. Paul Metro are eligible for membership. Refer to the credit union's Membership Eligibility page for the full details.

Branches are located in California, Florida, Georgia, Hawaii, Michigan, Minnesota, Tennessee and Washington.

The credit union's ratings for safety and soundess are above average: 5 stars (superior) at BauerFinancial and 3 stars (performing) at Bankrate.com. Both ratings are based on 6/30/09 financial data.

Wings Financial is a large credit union with $2.2 billion in assets and 122,394 members. It's federally in insured by the NCUA (Charter # 68601). Note, Wings' charter number has changed now that it's a state charter.

Other Competitive Certificate of Deposit Rates
  Tags: Minnesota, California, Washington, Tennessee, Georgia, Michigan, Hawaii, CD rates, Wings Financial Credit Union, Florida

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Comments
2 comments.
Comment #1 by Anonymous posted on
Anonymous
the investment money market account only allows two free withdrawals per month. you can pay a $20 fee for withdrawals three through six.

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Comment #2 by O-Qua Tangin Wann (anonymous) posted on
O-Qua Tangin Wann
As of 1/6/10, their Investment Money Market Account is still paying 2% for balances over $100,000.

There is no check writing on this specific account, but you can also open a Wings CU checking account and do online transfers, etc. Just know that you can only do two free withdrawals out of the Investment Money Market Account per month.

~O-Qua Tangin Wann

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