APPLE VALLEY, Minn. – Wings Financial FCU, the state’s largest credit union, is soliciting members for their vote to convert to a state charter because it hopes to expand to a community charter covering the Twin Cities.
The proposed switch was prompted by the continuing troubles in the airline industry, which Wings serves through a so-called TIP charter, for trade, industry or profession. Employment in the air transportation industry is down 21% since 2001, the $2.2 billion credit union told its members.
The proposed charter would encompass more than 3.2 million people in the Minneapolis/St. Paul metro area.
The charter switch has been approved by state regulators but must still be voted by members of the credit union, originally known as Northwest Airlines Employees FCU.
