Wings Financial Credit Union continues to offer competitive CD and IRA CD rates. Rates have slowly fallen, but they have fallen less than many other credit unions. Below is a list of the most competitive rates as shown on the credit union's rates page as of 5/2/2012:
- 2.22% APY 5-year CD
- 1.86% APY 4-year CD
- 1.71% APY 3-year CD
- 1.31% APY 2-year CD
Minimum deposit is $500. According to the account disclosure, the early withdrawal penalty is 180 days of interest for terms over 1 year and 30 days of interest for terms of 1 year and less.
Wings used to be only available to those employed in the air transportation industry. Over the years they have expanded the field of membership. Most people in the Minneapolis-St. Paul Metro area and in the Seattle-Tacoma Metro area are now eligible. Please refer to the Wings membership page for the full details.
The membership application can be done online. A minimum balance of $5 in the share savings account is required. When I checked with the credit union last year, I was told that a CD couldn't be opened at the same time that you apply for membership. You can fund the CD with money from the savings account, so if you apply for membership online, you might want to fund the share savings account with the money you want to use to fund the CD.
Wings Financial is a large credit union with over $3 billion in assets and with branches across the US including the states of California, Florida, Georgia, Hawaii, Michigan, Minnesota, Tennessee and Washington.
It has an overall health score at DepositAccounts.com of 5 stars (out of 5) with a Texas Ratio of 5.96% (excellent) based on December 2011 data. Please refer to our financial overview of Wings Financial Credit Union for more details. The credit union is federally insured by the NCUA (Charter # 68601).
How These CD Rates Compare
The best 5-year CD rate that's nationally available is 2.25% APY at McGraw-Hill Federal Credit Union. The best 2-year, 3-year and 4-year CD rates are 1.36% APY, 1.76% APY and 1.96% APY at Melrose Credit Union. These rates are accurate as of 5/1/2012.
Searching for the Best CD and IRA CD Rates
To search for the best nationwide rates and the best rates in your state, please refer to the following sections of DepositAccounts.com: