# WINGS FINANCIAL
Apple Valley, MN · NCUA charter 68601 · asset band $1-10B · latest filing 2025-12 · stopped filing after 2025-12 (departed; for a credit union that is almost always a merger)
Share link (named URL with a preview card): https://getbookiq.com/cu/wings-financial-68601

Who the members are: state charter, organized 1938, low-income designated. 384,731 members of 19,600,000 potential (2.0% of the field); checking penetration 65% (share draft accounts per 100 members); loans per 100 members 41.

**Verdict on the desk:** this could be *liquidity-tight*. Composite score 2 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $9.32B |
| Members | 384,731 (3.5% YoY) |
| Full-time staff | 727 |
| Net worth | $1.17B |
| Net worth ratio | 12.6% (p78 of band) |
| ROA (annualized) | 0.92% (p71 of band) |
| Total delinquency | 0.34% (p14 of band) |
| Net charge-offs (annualized) | 0.48% (p48 of band) |
| Loans / shares | 100% (p86 of band) |
| Cash / assets | 3.0% |
| Borrowings / assets | 9.36% |
| Net interest margin | 2.52% (p15 of band) |
| Operating expense / assets | 2.01% (p7 of band) |
| Vehicles % of loans | 10% (p11 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 61% |
| Third-party paper % of net worth | 52% (p23 of band) |
| Vehicle delinquency | 0.52% (p32 of band) |
| Vehicle NCO | 0.95% (p52 of band) |
| Repossessed % of vehicle book | 0.28% (p92 of band) |
| Real estate % of loans | 59% |
| Credit cards % of loans | 3% |
| Unsecured % of loans | 4% |
| Commercial % of net worth | 158% |
| Core shares % of member funds | 32% |
| Certificates % of member funds | 22% |
| Average share balance | $9,019 |
| Participations bought / yr | $286.3M |
| Participations sold / yr | $22.6M |
| Participations outstanding | – |
| Loans outstanding per 100 members | 41% |
| Loans granted per 100 members, annualized | 9% |
| Average loan balance | $46,121 |
| Loans granted, annualized | $1.96B |

## Flags firing in the latest filing

- **loans>95% of shares** (`str_ltos`)
- **leaning on borrowings** (`str_borrowings`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 0 |  |  |
| 2016-06 | 0 |  |  |
| 2016-09 | 0 |  |  |
| 2016-12 | 0 |  |  |
| 2017-03 | 0 |  |  |
| 2017-06 | 0 |  |  |
| 2017-09 | 0 |  |  |
| 2017-12 | 0 |  |  |
| 2018-03 | 1 | delinquency rising |  |
| 2018-06 | 0 |  | delinquency rising |
| 2018-09 | 0 |  |  |
| 2018-12 | 0 |  |  |
| 2019-03 | 0 |  |  |
| 2019-06 | 0 |  |  |
| 2019-09 | 2 | delinquency rising, leaning on borrowings |  |
| 2019-12 | 2 |  |  |
| 2020-03 | 2 | margin squeeze | leaning on borrowings |
| 2020-06 | 2 | net worth falling | margin squeeze |
| 2020-09 | 2 |  |  |
| 2020-12 | 1 |  | delinquency rising |
| 2021-03 | 1 |  |  |
| 2021-06 | 0 |  | net worth falling |
| 2021-09 | 1 | leaning on borrowings |  |
| 2021-12 | 2 | net worth falling |  |
| 2022-03 | 1 |  | net worth falling |
| 2022-06 | 1 |  |  |
| 2022-09 | 1 |  |  |
| 2022-12 | 1 |  |  |
| 2023-03 | 1 |  |  |
| 2023-06 | 1 |  |  |
| 2023-09 | 3 | net worth falling, loans>95% of shares |  |
| 2023-12 | 3 |  |  |
| 2024-03 | 3 |  |  |
| 2024-06 | 3 | delinquency rising | net worth falling |
| 2024-09 | 3 | repo signal | delinquency rising |
| 2024-12 | 4 | delinquency rising |  |
| 2025-03 | 5 | net worth falling |  |
| 2025-06 | 3 |  | delinquency rising, net worth falling |
| 2025-09 | 2 |  | repo signal |
| 2025-12 | 2 |  |  |

## In the news (Google News, unfiltered, newest first; check the city)

- 2025-12-10 [Wings Financial Credit Union plans new standalone Eden Prairie branch - The Business Journals](https://news.google.com/rss/articles/CBMirAFBVV95cUxOMEVhZ1NRSjd6b0VqTmNiYUZnLXdxLS1OalFPR2JfYVFVVWZ3VmlELXkwaGl6QzlYVHFhVG96S1Z3YWdsaE1TbFBwRkQ5eFdRSHFFS3pZcXF1WGx1NWs1eE5weUJBMXZEeGJiRy1QZU9KejhvdDZQanRPQUtRVXlUYUV0MV9waUxSX0F2ZnF5bmlwdk9PZ2dUeHctWGtuY3lmaWR6aXhhbmZHMFA2?oc=5) · The Business Journals
- 2021-01-26 [Minnesota’s Wings Financial makes year’s 1st credit union purchase of bank - Banking Dive](https://news.google.com/rss/articles/CBMipgFBVV95cUxQN19OeGp4dWgyNXo0NEhPTGlyYWg5OUZoUGRVU2lLclpqTVBzY2JZQkx5RFNOOElaWE1jQ0F2VC1aZ2g5MGNjbXZaNlpJVFlQOENiWW1BNC1uYjlsZGN5bnZ1Ml9MYTNhRkoxUldnM0pFSGxrTFBzb3A1eFFIenE1dGlDQklsZVhyWTRMMTY1cklld2kxS3B5TmJYOHB5dGlOcVp4VjRn?oc=5) · Banking Dive
- 2024-04-02 [Wings Financial foreclosing on portion of Normandale Lakes Office Park for unpaid mortgage - startribune.com](https://news.google.com/rss/articles/CBMi6gFBVV95cUxPSEJRWXFwcVVLdU5oTzhjVUlyS3hEQmRkT1BMQlFFWVhFMWhoQnJIbkpONkdBM01uc3hLZkZXX1g0Y3FISllRR2psUVhRQ1UydTM1QU4xUnBlQ0hKbUx2X2ZuNG5HeU1fOFpWYm1tTVUyVmpJVHRMWlVTU25ISXdfaWdqUFpZQTkwSW1qWHFFenlVV0F0RHo3UGQ3UmswTTlDTVJ5WDNJYUJsZ19YSUV0Z0hnVWNRWWV6NzY2bzg5OGQtRW9yYjhwbXk2ZUxtS2xwSVhhM2l1VU1lSmxELXBlaW1IUkE3TG9CT2c?oc=5) · startribune.com
- 2025-10-20 [Wings Credit Union CEO set for $7M payout if Ent merger approved - The Business Journals](https://news.google.com/rss/articles/CBMingFBVV95cUxOV1F0cVI0TGFpQ0swTWFDR2Q4UElobWxtaUlud1pXQlhaSWs0cVFrbVJUMlN3T3NuVjNoNlJGbTN3aGQzcUpab0Q4bGo1c3JXMVVJVlBjbzdVN1RmQkprTmlnQm80ck1DTFJKbF80Ry1zOU9jOFZ5RTNlZG90ZnRoVWNSRUV2dms3VnV0QThFQTlzVFJPSWFVcDRNVmZuQQ?oc=5) · The Business Journals
- 2025-03-04 [Wings Credit Union Review - businessinsider.com](https://news.google.com/rss/articles/CBMilwFBVV95cUxPUU5sQmZ0QXRBQWRjc0NCc1Y2M0x4Y3NEUDZpZEVpTGVkU2lSTm5zM21mZ3B4djR1eDNER0VXVjE2TjNrRm44ekE4ZTExYnlGSHBwcEY4WWRYSUZnM3FYeWZ4eWoxT19KRlhwTlM0VnkwYzRJVGphcWt1NnVGWHFPanN5U0RTejl6dW1jWERnejhpUXlSYWZV?oc=5) · businessinsider.com
- 2019-08-19 [Wings Financial Credit Union joins CU Realty Services’ Million Dollar Club - CUInsight](https://news.google.com/rss/articles/CBMitAFBVV95cUxOMjVCbHU3ajZPUl9sdGpGQWxrWU51VE9KUXNnT2llZE02SnB2WlVwRzk2OGx5X2NGTXRIbnVMbVQzdEFLbjB3UUFXd1VyWkZWZlg3VVd5a18xZVQxLThoTDZ0dFlfVEdWb25yOVhEeEJEYmUwUjJPd1dHUmg2OGxsSDBBVWVpdUEtMkc1WHdpUjI2ZlRVQjVwY25lTTdDLXdoNjZLTk1SRHBGUE9ONnlYc1l5Qm0?oc=5) · CUInsight
- 2025-04-23 [Minnesota's largest credit union announces Colorado merger - Bring Me The News](https://news.google.com/rss/articles/CBMipgFBVV95cUxORWNfLTl4SGhQcTRxcm9rOGE4UENRYU1wVzJLekswN0lISXZhQldfRm0zNXhOdVUwYlNLODF3MXNndGVQeUlJdzYxNHpVdUpfN2ZBQWc0Zjdxb011U0U5R01uV1ZOVnFxNWVPeEFjbVZueWxoOUZ2ZElzZ3c5SU5Kd3MyRWlJN2Z2ZmlFLTRjRWJIVVo0cHpvR3k1eGhMMFBuVVljd0lR?oc=5) · Bring Me The News
- 2021-07-23 [Top Projects of 2020: Wings Financial Credit Union Headquarters - Finance & Commerce](https://news.google.com/rss/articles/CBMiogFBVV95cUxQY1lGY21IUXg3RHY2MUFYWFE2MGplSlFJbjdmRnJxU213RlI5OXl5WUxIbnhOMVZrY2ZHTm5YNnhPSl94elpxemw4MU1QRml6RjFQaGdGQ0RNX0t4U0hyOUlHcjhqUXVQWUsyeXJBa202RlB3Ulc4OGE0aUpJVWFITHZXcFhseE0xdC1rVjUzVlc3aXNVQndER1R0cXc5TXZkbXc?oc=5) · Finance & Commerce

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=68601 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/57.json (key "68601", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=68601
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide