Wings Financial Credit Union’s 12 month CD rate: 2.90%

May 18, 2009 1 Comment »

wings financial deposit ratesUpdate 2012: Wings Financial Credit Union’s current CD rates are slightly under the top offers from our database of online, FDIC-insured banks, however, they are still quite a bit above the current national average. As of 2012, Wing Financial’s best CD rate is it’s 5 year deposit. It features an APY of 2.20% APY and requires a minimum deposit of just $500.

Expect CD and money market rates to remain historically low for the next couple of years. In the FED’s most recent meeting regarding key rates, they cited 2014 as the year in which rates will begin to rise again. We would recommend keeping your money in a liquid savings account so that it is easily available when more attractive investments surface.

- Offer from Archive -

It’s not quite a 12 month CD with a 3.0% APY – but it’s close!

Currently Wings Financial Credit Union is offering it’s members a 12 month CD yielding a “dividend rate” of 2.90%. The national average for 12 month CD’s sits at around 1.96%.

Unfortunately, this credit union comes with some fairly strict yet straight forward requirements for eligibility. See below.

Wings Financial Credit Union Membership Eligibility:

(as seen on their website)

Membership is available to most people employed in, retired from, or whose job directly supports the air transportation of people or cargo, immediate family members of persons engaged in such activities, and family members (including household relationships) of a current credit union member.

The Wings Financial charter states that the field of membership is limited to those having the following common bond:

1. Employees of entities engaged in the Air Transportation Industry who work in the United States, meaning:

  • employees of airlines;
  • government employees who work directly in the administration, regulation, or security of airlines, airports, or air transportation; and
  • employees who are located at an airport if they work directly with:
    • air transportation of freight
    • air courier services
    • air and air transportation support and services, for example, janitorial services, airport baggage handling, aircraft cleaning, maintenance and repair services, and runway maintenance services; and
    • on-board airline food services.

The Industry does not include employees of retail shops, restaurants, travel agencies, hotels, or car rental companies even if located at an airport.

2. employees of this credit union;
3. persons retired as pensioners or annuitants from the above employment;
4. spouses of persons who died while within the field of membership of this credit union;
5. members of their immediate families and households;
6. organizations of such persons, and;
7. corporate or other legal entities in the charter.

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  • Blogging Banks

    BV,

    Thanks for the good find. I guess it pays to shop around and ask your local credit union for a “raise” in the CD rates.

    For the unlucky souls that do not qualify for this CU i would check this out:
    http://bankvibe.com/cd-rates/12-month-cd-rates/