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  Wings Financial Credit Union 5 Year Step-Up Certificate
Wings Financial Credit Union 5 Year Step-Up Certificate
in CD Accounts from Wings Financial Credit Union · Insured by NCUA
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Wings Financial Credit Union 5 Year Step-Up Certificate

Unaffiliated
in CD Accounts from Wings Financial Credit Union · Insured by NCUA
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Highlights
APY (Annual Percentage Yield) 0.90% - 1.06%
(Verified 08/04/2023)
Minimum Opening Deposit Starting at $500
Certificate Term 5 years

Wings Financial Credit Union 5 Year Step-Up Certificate Review

Wings Financial Credit Union 5 Year Step-Up Certificate are offered by Wings Financial Credit Union, a credit union founded in 1938 and based in Apple Valley, MN. Wings Financial CD are available in 3 states across the USA.

Key Takeaways

  • Only one share certificate type available. Wings Financial CD only offers bump up share certificate accounts.
  • Very high annual percentage yield (APY). This account offers an annual percentage yield of up to 1.06%, which is much higher than the national average for a certificate account.
  • $500 minimum deposit. This is a typical minimum initial deposit for the certificates we track.
  • Limited selection of share certificate terms. Wings Financial CD only offers one share certificate term. This limits your options when trying to set up a certificate ladder.

Pros & Cons of Wings Financial Credit Union 5 Year Step-Up Certificate

Pros Cons
  • Insured by NCUA.
  • High-dividend yield
  • Only available in 3 states.
  • Poor selection of certificate terms.
  • There isn't a no-penalty certificate option.
  • Does not offer an IRA CD.

Wings Financial Credit Union 5 Year Step-Up Certificate FAQ

Are share certificates from Wings Financial Credit Union federally insured?

Yes, your share certificates are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

What is the difference between CDs and Share Certificates?

Certificates of Deposit (CDs) and Share Certificates are both deposit accounts where your money can grow at a fixed rate for a predetermined period of time. Both are low-risk and federally insured products designed to give you a better rate on your deposits than typical savings accounts. The main difference between them is that CDs are offered by for-profit banks, whereas Share Certificates are offered by member-owned, not-for-profit credit unions.

What types of share certificates does Wings Financial Credit Union offer?

Wings Financial CD provides the following types of share certificates.
  • Traditional share certificates. These share certificates pay a fixed interest rate if you deposit a fixed amount of money for a specific term. Once the maturity date arrives, you have the option of cashing out or automatically renewing the share certificate for another term.
  • Bump-up share certificates. Bump-up share certificates allow you to increase the interest rate you earn on your savings if the going interest rates rise. These share certificates are useful in a changing interest rate environment.

What rates does Wings Financial Credit Union offer on its share certificates?

Wings Financial CD offers an APY starting at 0.90% and ranging up to 1.06%. APY stands for annual percentage yield and shows the interest rate paid by the share certificate after taking into account compounding.

What terms does Wings Financial CD offer?

Wings Financial Credit Union offers share certificate terms of the following lengths:
Wings Financial Credit Union 5 Year Step-Up Certificate Rates & Terms
Description
APY (Annual Percentage Yield) 0.90% - 1.06%
5-Year APY 0.90% - 1.06%

What is the minimum deposit to open a share certificate account with Wings Financial Credit Union?

Wings Financial CD require a minimum deposit of $500 to open an account.

What is the grace period for Wings Financial CD?

There is a 10-day grace period for Wings Financial CD. A grace period is a period of time during which you can withdraw the money in your share certificate without paying an early withdrawal penalty. A grace period starts the day after a share certificate’s maturity date, or the final day a share certificate is opened. Standard share certificates renew automatically at the same term if you don't withdraw your money after the 10-day grace period. Note that the new share certificate rates probably won’t be the same as the original.

What types of fees, such as early withdrawal penalties, does Wings Financial Credit Union charge?

Financial institutions don't typically charge many fees on share certificates. However, most charge a fee if you choose to withdraw your money before the term ends.

Wings Financial Credit Union does not charge an early withdrawal fee.

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Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Wings Financial CD

Make an investment for the future with Wings’ Certificates. Take advantage of a locked in rate and term with Wings Financial’s certificates. With terms from three months to five years, our certificates give you a safe, secure investment option. Wings’ certificates can help you earn more return on your investment than traditional savings accounts. A certificate could be right for you if you have savings that can be set aside for a period of time without withdrawals. You choose the terms that work best for you, from as little as three months to as long as five years. 

Promotional Share/IRA Step-Up Certificates may be stepped-up one time. The step up rate will be determined by the current 5 year standard term certificate rate and will apply to the remaining term of the certificate. 

Contact

Hours of Operation

  • Sunday Closed
  • Monday 8:00am - 5:00pm
  • Tuesday 8:00am - 5:00pm
  • Wednesday 8:00am - 5:00pm
  • Thursday 8:00am - 5:00pm
  • Friday 8:00am - 5:00pm
  • Saturday 9:00am - 1:00pm

Other Services by Wings Financial Credit Union

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Availability

  Available in 3 states
  • Minnesota
  • Washington
  • Wisconsin

Feature Breakdown

Minimum Opening Deposit Starting at $500
APY (Annual Percentage Yield) 0.90% - 1.06%
(Verified 08/04/2023)
5-Year APY 0.90% - 1.06%
Certificate Term 5 years
CD Accounts Bump Up
Grace Period for Account Changes 10 days

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