Wednesday, February 17, 2010 - 9:48 PMWings Financial Credit Union
Wings Financial CU cutting rates to slow its groth.
Seems its high yields attracted plenty of attention. ****! From the Web site:
Deposit Accounts Adjusted to Manage Growth
Wings Financial enjoyed another successful year in 2009 – while we watched many banks and credit unions realize massive losses or even go out of business. So far in 2010, we’re on track to another year of rapid growth. To remain healthy, Wings needs to slow that growth down.
Several Deposit Accounts Temporarily Discontinued
Effective February 10, 2010, Wings has discontinued the opening of new accounts in several liquid and short-term deposit categories until further notice:
Certificates less than 2 years World Class Money Market Investment Money Market If you currently have any Certificates at terms less than 2 years, you may roll over maturing certificates at the same term and effective rate at that time, but you may not add to the balance. If you have an existing World Class or Investment Money Market Account, you may continue to use them as usual, but new accounts are not available. Interest rates offered on all of these products will, as always, be very attractive.
Increased Checking and Savings Rates
To return more value to members through other accounts, we’ve increased our First Class Checking and Share Savings rates by 0.25% to 0.75% - making these accounts even more competitive.
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