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Wings Financial Applies for State Charter to Combat Airline Unemployment

Concerned with a dramatic drop in employment in the air transportation industry,

By Michelle A. Samaad | Updated on September 01, 2009

Concerned with a dramatic drop in employment in the air transportation industry, Wings Financial Federal Credit Union has asked its members to vote on converting to a state-chartered credit union in an effort to expand its footprint.

In an online letter (www.wingsfinancial.com) the $2.1 billion Apple Valley, Minn.-based credit union said employment in the air transportation industry is down 24% since 2001. Wings Financial said by converting to a state charter, it would open membership up to the 13 county Minneapolis/St. Paul, Minnesota area. Nearly 50% of its 125,000 members live or work in the two metropolitan regions. Wings Financial was chartered in 1938 to serve Northwest Airlines.

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