2018-08-14T08:51:02-05:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2017-01-01 416028665 WINGS FINANCIAL CREDIT UNION WING 9529978000 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 VIKRAM K ISRANI CHIEF FINANCIAL OFFICER 9529978000 2018-08-01 1 TANYA MEDGAARDEN P01717240 5074347000 2017 2022-09-23 18:48:47Z R FRANK WEIDNER 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 729481750 0 X WINGSFINANCIAL.COM X CU 1938 MN TO PROVIDE FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERS. 7 6 575 6 179419 -89193 0 0 107365010 129064662 50811315 53063120 101683 0 158278008 182127782 0 0 21832165 21710018 43731898 42417806 0 0 0 48820197 48262530 114384260 112390354 43893748 69737428 4435339392 4542484436 3938763392 3976607431 496576000 565877005 TO CONDUCT THE ORDINARY AND NECESSARY BUSINESS OF A CREDIT UNION INVOLVING THE RECEIVING OF SAVINGS FROM MEMBERS AND LENDING MONEY TO MEMBERS FOR PROVIDENT PURPOSES. 0 0 AS A STATE CHARTERED CREDIT UNION WE PROVIDE A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 134,480 LOANS OUTSTANDING AS OF 12/31/17 WITH BALANCES OF $2,719,681,337. AS A STATE CHARTERED CREDIT UNION WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 512,466 MEMBER ACCOUNTS WITH DEPOSITS OF $3,928,759,628 AS OF 12/31/17. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 1 1 1 0 0 1 170800 0 1 575 1 1 1 0 0 0 0 0 X 7 6 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 1 0 X VIKRAM K ISRANI 9529978000 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 DALE S KARIYA CHAIRMAN 5.00 X X 17813 0 0 MARY S GRAHEK VICE CHAIRMAN 5.00 X X 0 0 0 LANCE A MILLER SECRETARY/TREASURER 1.00 X X 0 0 0 JOANN HARRIS DIRECTOR 1.00 X 0 0 0 MARK PHOTIADES DIRECTOR 1.00 X 0 0 0 JULIE A RATH DIRECTOR 1.00 X 0 0 0 R FRANK WEIDNER PRESIDENT/CEO 40.00 X X 1036376 0 565996 MARK S EVERSON SVP/CHIEF LENDING OFFICER 40.00 X 389994 0 36890 DAVID E MASON SVP/DIGITAL & CHIEF INFORM 40.00 X 337623 0 156298 JOHN J WAGNER SVP/MEMBER EXPERIENCE 40.00 X 392487 0 250168 GREGORY HIGGINS SVP/CHIEF ADMIN OFF/GEN C 40.00 X 388782 0 147293 NORM CREVELING SVP/CHIEF LENDING OFFICER 40.00 X 33886 0 43532 VIKRAM K ISRANI SVP/CHIEF FINANCIAL OFFICER 40.00 X 396387 0 245878 BRADLEY GRANT VP - INFORMATION SERVICES 40.00 X 187363 0 39974 JEFFREY PETRONACK SR FINANCIAL ADVISOR 40.00 X 187488 0 36545 BRAD BYERS SR FINANCIAL ADVISOR 40.00 X 209886 0 41566 SCOTT RAMSDALE VP - BUSINESS SERVICES 40.00 X 208009 0 38427 ROXANNE JOHNSON VP - REAL ESTATE 40.00 X 215346 0 37902 4001440 0 1640469 49 0 1 0 PSCU 560 CARILLON PARKWAY SAINT PETERSBURG FL 33716 VISA PROCESSING 6010717 MIC SERVICES 220 WEST 90TH STREET BLOOMINGTON MN 55420 CONSTRUCTION 4260745 CASE FINANCIAL INC 701 WEAVER BOULEVARD NW ANOKA MN 55303 ATM PROVIDER 1915651 CLARITY COVERDALE FURY 120 S 6TH STREET SUITE 1300 MINNEAPOLIS MN 55402 ADVERTISING 1712314 FISERV 75 REMITTANCE DRIVE SUITE 1649 CHICAGO IL 60675 ONLINE BANKING/BILLPAYER 1187338 73 LOAN INTEREST 900099 91384525 91384525 OTHER OPERATING INCOME 900099 26466664 26466664 FEE INCOME 522100 11213473 11034054 179419 129064662 49368622 49368622 523092284 27956182 519956310 27397658 3135974 558524 3694498 3694498 182127782 128885243 179419 53063120 21710018 4439403 30101140 2095885 3678644 2102734 83987 6690938 26560162 4276818 251879 2246693 2863655 PROVISION FOR LOAN LOSS 4201527 ALL OTHER EXPENSES 911697 OPERATING FEES 175174 112390354 204242640 103266186 52197698 11508115 23369963 30306475 2162199966 2670272640 103895029 139639892 62686728 21026457 36206101 41660271 1791153082 1475818608 62074913 70012249 4435339392 4542484436 43564226 45202023 2844117 2770797 90000000 0 3802355049 3928634611 3938763392 3976607431 X 0 0 0 0 496576000 565877005 496576000 565877005 4435339392 4542484436 X 69737428 -436434 11 X X 0 1 X 1 0 0 1 X 8021231 8021231 39325691 10402848 28922843 15339806 10623609 4716197 41660271 SECURITIES - AFS 1475818608 F 1475818608 MEMBER SHARES AND DEPOSITS 3928634611 3928634611 X PART IV, LINE 2B: THE CREDIT UNION SERVICES MORTGAGE LOANS SOLD TO FNMA. CUSTODIAL ESCROW BALANCES ARE MAINTAINED IN CONNECTION WITH THESE LOANS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT, UNDER INTERNAL REVENUE CODE 501 (C) (14), FROM FEDERAL AND STATE INCOME TAXES. THE WINGS FINANCIAL ADVISORS SUBSIDIARY IS A LIMITED LIABILITY CORPORATION WHOLLY OWNED BY THE CREDIT UNION. AS SUCH, IT IS A "PASS THROUGH" ENTITY AND ITS INCOME IS INCLUDED WITH THE CREDIT UNION FOR INCOME TAX PURPOSES. THE WINGS FINANCIAL FOUNDATION IS EXEMPT FROM TAXES. WINGS FINANCIAL CU'S CONVERSION TO A STATE CHARTERED CREDIT UNION ON OCTOBER 22, 2009 RESULTED IN ITS BEING SUBJECT TO UNRELATED BUSINESS INCOME TAX. ALSO AS A RESULT OF BECOMING A STATE CHARTERED CREDIT UNION WINGS FINANCIAL CU BEGAN PAYING STATE SALES AND USE TAXES. THE CREDIT UNION HAS FILED TAX RETURNS FOR ACTIVITIES THEY HAVE DEEMED TAXABLE. THE CREDIT UNION EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2017 AND 2016. THE TAXING AUTHORITIES HAVE THE ABILITY TO ASSESS TAXES, PENALTIES AND INTEREST FOR ANY YEARS FOR WHICH NO TAX RETURN WAS FILED. IN THE OPINION OF MANAGEMENT, ANY LIABILITY RESULTING FROM TAXING AUTHORITIES IMPOSING INCOME TAXES ON THE NET TAXABLE INCOME FROM ACTIVITIES POTENTIALLY DEEMED TO BE UNRELATED TO THE CREDIT UNION'S EXEMPT PURPOSE IS NOT EXPECTED TO HAVE A MATERIAL EFFECT ON THE CREDIT UNION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. THE CREDIT UNION'S 2013 THROUGH 2016 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES FOR THREE AND HALF YEARS. X X 1 1 X X X X 0 1 0 R FRANK WEIDNER PRESIDENT/CEO 706709 0 315613 0 14054 0 542239 0 23757 0 1602372 0 0 0 MARK S EVERSON SVP/CHIEF LENDING OFFICER 304429 0 83729 0 1836 0 24186 0 12704 0 426884 0 0 0 DAVID E MASON SVP/DIGITAL & CHIEF INFORM 263458 0 71595 0 2570 0 137072 0 19226 0 493921 0 0 0 JOHN J WAGNER SVP/MEMBER EXPERIENCE 304992 0 82628 0 4867 0 226917 0 23251 0 642655 0 0 0 GREGORY HIGGINS SVP/CHIEF ADMIN OFF/GEN C 304118 0 83582 0 1082 0 124762 0 22531 0 536075 0 0 0 VIKRAM K ISRANI SVP/CHIEF FINANCIAL OFFICER 308028 0 86849 0 1510 0 223877 0 22001 0 642265 0 0 0 BRADLEY GRANT VP - INFORMATION SERVICES 152914 0 34138 0 311 0 17613 0 22361 0 227337 0 0 0 JEFFREY PETRONACK SR FINANCIAL ADVISOR 179763 0 7632 0 93 0 16403 0 20142 0 224033 0 0 0 BRAD BYERS SR FINANCIAL ADVISOR 195968 0 13696 0 222 0 18886 0 22680 0 251452 0 0 0 SCOTT RAMSDALE VP - BUSINESS SERVICES 168591 0 39087 0 331 0 19279 0 19148 0 246436 0 0 0 ROXANNE JOHNSON VP - REAL ESTATE 181007 0 33100 0 1239 0 18845 0 19057 0 253248 0 0 0 PART I, LINE 1A R FRANK WEIDNER - $4,788 - TRAVEL FOR COMPANION MARK EVERSON - $1,341 - TRAVEL FOR COMPANION GREG HIGGINS - $730 - TRAVEL FOR COMPANION VIKRAM ISRANI - $2,537 - TRAVEL FOR COMPANION DAVID MASON - $1,132 - TRAVEL FOR COMPANION JOHN WAGNER - $1,835 - TRAVEL FOR COMPANION R FRANK WEIDNER - $9,438 - TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, AUTO LEASE MARK EVERSON - $1,500 - TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, PRIZE VIKRAM ISRANI - $102 - TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, YEARS OF SERVICE AWARD GREG HIGGINS - $221 - TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, YEARS OF SERVICE AWARD PART I, LINE 4B R FRANK WEIDNER - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED VIKRAM K ISRANI - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED GREGORY W HIGGINS - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED DAVID E MASON - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED JOHN J WAGNER - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED NORM CREVELING - PARTICIPATED IN 457 (F) PLAN, NO PAYMENTS RECEIVED VIKRAM K ISRANI SVP/CHIEF FINANCIAL OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 4839027 5163972 0 1 1 DAVID E MASON SVP/DIGITAL & CHIEF INFORMATION OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 3928287 4367662 0 1 1 R FRANK WEIDNER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 7155723 7919927 0 1 1 JOHN J WAGNER SVP/CHIEF MEMBER EXPERIENCE SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 4549789 4991067 0 1 1 GREGORY HIGGINS SVP/CHIEF ADMIN OFFICER/GENERAL COUNSEL SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 3832626 4199947 0 1 1 NORMAN CREVELING SVP/CHIEF LENDING OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 996600 996600 0 1 1 BRADLEY GRANT VP - INFORMATION SERVICES SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 728700 728700 0 1 1 ROXANNE JOHNSON VP - REAL ESTATE SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 761600 761600 0 1 1 SCOTT RAMSDALE VP - BUISNESS SERVICES SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 1177000 1177000 0 1 1 30306475 MARK EVERSON CURRENT OFFICER FOR WINGS FINANCIAL CU 13613 MARK EVERSON ALSO SERVES AS A DIRECTOR FOR CU COMPANIES INC. WINGS FINANCIAL CU PAID CU COMPANIES, INC FOR MORTGAGE ORIGINATION AND MORTGAGE SERVICING DURING 2017. 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IS AVAILABLE TO EMPLOYEES AND RETIREES OF ENTITIES ENGAGED IN THE AIR TRANSPORTATION INDUSTRY WHO WORK IN THE UNITED STATES. MEMBERS OF IMMEDIATE FAMILIES OF REGULARLY QUALFIED MEMBERS MAY ALSO BECOME MEMBERS. AS OF OCTOBER 22, 2009, INDIVIDUALS WHO LIVE, WORK OR WORSHIP IN THE THIRTEEN COUNTY METRO AREA OF MINNEAPOLIS AND ST PAUL, MINNESOTA AND WESTERN WISCONSIN AS WELL AS THEIR FAMILIES BECAME ELIGIBLE FOR MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS. EACH MEMBER IS ENTITLED TO 1 VOTE. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERS VOTE ON CHARTER CHANGES AND ELECTION OF BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 WILL BE REVIEWED BY OFFICERS PRIOR TO ITS FILING AND WILL BE PRESENTED TO THE BOARD OF DIRECTORS AND THE SUPERVISORY COMMITTEE AS AN INFORMATIONAL REPORT. FORM 990, PART VI, SECTION B, LINE 12C HR AUDITS TEST WHETHER OR NOT THE EMPLOYEE HAS EXECUTED THE ACKNOWLEDGEMENT OF THE CODE OF ETHICS (INCLUDING CONFLICT OF INTEREST RULES). GENERAL AUDITOR PERFORMS QUARTERLY TESTING TO DETERMINE WHETHER EMPLOYEES ARE PERFORMING TRANSACTIONS ON THEIR OWN DEPOSIT AND LOAN ACCOUNTS. VOLUNTEERS AND BOARD MEMBERS ARE ASKED ANNUALLY TO REAFFIRM THE EXISTENCE OF THE CODE OF ETHICS RESOLUTION (INCLUDING THE CONFLICT OF INTEREST ADMONITION). FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT/CEO COMPENSATION REVIEW IS CONDUCTED ANNUALLY BY THE BOARD EXECUTIVE COMMITTEE AS A COMPONENT OF A FORMAL PERFORMANCE REVIEW PROGRAM. COMPENSATION LEVELS ARE EVALUATED AGAINST MARKET COMPENSATION DATA OBTAINED FROM INDEPENDENT EXECUTIVE COMPENSATION SOURCES, CHANGES IN AVERAGE MARKET COMPENSATION, AND ORGANIZATIONAL PERFORMANCE. THIS WAS LAST COMPLETED IN 2017. EXECUTIVE OFFICER COMPENSATION REVIEW IS CONDUCTED ANNUALLY BY THE PRESIDENT/CEO IN CONJUNCTION WITH A FORMAL ANNUAL PERFORMANCE REVIEW PROGRAM. COMPENSATION LEVELS ARE EVALUATED AGAINST MARKET COMPENSATION DATA PROVIDED BY INDEPENDENT EXECUTIVE COMPENSATION SOURCES, CHANGES IN AVERAGE MARKET COMPENSATION TRENDS, AND INDIVIDUAL AND ORGANIZATIONAL PERFORMANCE. THIS WAS LAST COMPLETED IN 2017. THIS WAS LAST DONE IN 2016 FOR 2017 COMPENSATION LEVELS. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S FINANCIAL STATEMENTS ARE POSTED ON THE NCUA WEBSITE AND IN BRANCH LOBBIES. GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ROUNDING 11. FORM 990, PART XII, LINE 2C: THE SUPERVISORY COMMITTEE OVERSEES THE AUDIT AND THE SELECTION OF AN INDEPENDENT AUDITOR AND THIS PROCESS HAS NOT CHANGED SINCE THE PRIOR YEAR. WINGS FINANCIAL ADVISORS LLC 14985 GLAZIER AVENUE APPLE VALLEY MN 55425 412012281 ACCOUNTING SERVICES MN 178622 1652906 WINGS FINANCIAL CREDIT UNION WINGS FINANCIAL FOUNDATION (PREVIOUSLY DONALD R WAHLUND FDN) 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 411929671 YOUTH EDUCATION MN 501(C)(3) PF WINGS FINANCIAL CREDIT UNION 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0