2017-05-09T14:43:07-05:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP PO BOX 217 AUSTIN MN 55912 990 2016-01-01 416028665 WINGS FINANCIAL CREDIT UNION WING 9529978000 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 VIKRAM K ISRANI CHIEF RISK & FINANCE OFFICER 9529978000 2017-05-08 1 TANYA MEDGAARDEN P01717240 5074347000 67.137.57.251 2017-05-08 10:58:21 CD P F443134CF856ADABD88748070CF002D5F9894249 49FF17CAA3AD5322734E871A13C803864389E663 2016 2021-01-29 14:40:06Z R FRANK WEIDNER 14985 GLAZIER AVENUE APPLE VALLEY MN 55124 627186077 0 X WINGSFINANCIAL.COM X CU 1938 MN TO PROVIDE FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERS. 7 6 571 6 254937 53696 0 0 96811150 107365010 45568680 50811315 107900 101683 142487730 158278008 0 0 22928866 21832165 37031749 43731898 0 0 0 48303302 48820197 108263917 114384260 34223813 43893748 4227852467 4435339392 3766232945 3938763392 461619522 496576000 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 120,859 LOANS OUTSTANDING AS OF 12/31/16 WITH BALANCES OF $2,204,363,660. AS A STATE CHARTERED CREDIT UNION WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. THE CREDIT UNION HAD 481,102 MEMBER ACCOUNTS WITH DEPOSITS OF $3,802,355,050 AS OF 12/31/16. 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 183265 0 1 571 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 12000 0 0 MARY S GRAHEK VICE CHAIRMAN 5.00 X 0 0 0 LANCE A MILLER SECRETARY/TREASURER 1.00 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 927712 0 1867969 TIMOTHY A KEEGAN SVP/CHIEF INVESTMENT OFFIC 40.00 X 3135721 0 43675 MARK S EVERSON SVP/CHIEF LENDING OFFICER 40.00 X 399205 0 36956 DAVID E MASON SVP/DIGITAL & CHIEF INFORM 40.00 X 338421 0 807833 JOHN J WAGNER SVP/MEMBER EXPERIENCE 40.00 X 404380 0 789961 GREGORY HIGGINS SVP/CHIEF ADMIN OFF/GEN C 40.00 X 380378 0 149586 VIKRAM K ISRANI SVP/CHIEF RISK & FINANCE O 40.00 X 408886 0 380829 JAMES BUCHHOLZ VP-WINGS FINANCIAL ADVISOR 40.00 X 186379 0 19853 BRAD BYERS FINANCIAL ADVISOR 40.00 X 178349 0 39951 SCOTT RAMSDALE VP-BUSINESS SERVICES 40.00 X 193189 0 37953 ROXANNE JOHNSON VP - REAL ESTATE 40.00 X 197389 0 38499 MICHAEL SAHR VP - PAYMENT SERVICES 40.00 X 165468 0 39449 6927477 0 4252514 44 0 1 0 PSCU 560 CARILLON PARKWAY SAINT PETERSBURY FL 33716 VISA PROCESSING 5288952 CLARITY COVERDALE FURY 120 S 6TH STREET SUITE 1300 MINNEAPOLIS MN 55402 ADVERTISING 1427739 FIS PO BOX 435 CAROL STREAM IL 60197 INFORMATION SERVICES 1179371 CASE FINANCIAL 701 WEAVER BOULEVARD NW ANOKA MN 55303 ATM PROVIDER 1116523 MICRODYNAMICS GROUP 8580 SOLUTION CENTER CHICAGO IL 60677 HARDWARE/SOFTWARE 861192 71 LOAN INTEREST 900099 74068488 74068488 OTHER OPERATING INCOME 900099 24379554 24379554 FEE INCOME 522100 8916968 8763714 153254 107365010 47282751 47282751 432597000 39839633 429555000 39353069 3042000 486564 3528564 3528564 INSTALLMENT SALE GAIN 2016 900099 101683 101683 101683 158278008 107211756 254937 50811315 21832165 10083512 23474583 4408744 3803452 1961607 77716 7032719 25098213 4573954 171282 5065831 2667948 PROVISION FOR LOAN LOSS 3141647 ALL OTHER EXPENSES 828911 OPERATING FEES 161976 114384260 200290436 204242640 104779424 52197698 22770788 23369963 1773635595 2162199966 2483410 103895029 60344956 24138855 33686368 36206101 1938748398 1791153082 151458048 62074913 4227852467 4435339392 35636870 43564226 2708897 2844117 140000000 90000000 3587887178 3802355049 3766232945 3938763392 X 0 0 0 0 461619522 496576000 461619522 496576000 4227852467 4435339392 X 43893748 -8835587 -101683 X X 0 1 X 1 0 0 1 X 8006873 8006873 33645134 9368494 24276640 18692949 14770361 3922588 36206101 SECURITIES - AFS 1791153082 F 1791153082 MEMBER SHARES AND DEPOSITS 3802355049 3802355049 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, 2016 AND 2015. 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 2012 THROUGH 2015 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES FOR THREE AND HALF YEARS. X 1 1 X X X X 1 1 0 R FRANK WEIDNER PRESIDENT/CEO 708917 0 204429 0 14366 0 1842560 0 25409 0 2795681 0 0 0 TIMOTHY A KEEGAN SVP/CHIEF INVESTMENT OFFIC 235408 0 84163 0 2816150 0 23850 0 19825 0 3179396 0 0 0 MARK S EVERSON SVP/CHIEF LENDING OFFICER 319197 0 79551 0 457 0 23850 0 13106 0 436161 0 0 0 DAVID E MASON SVP/DIGITAL & CHIEF INFORM 269808 0 66199 0 2414 0 787411 0 20422 0 1146254 0 0 0 JOHN J WAGNER SVP/MEMBER EXPERIENCE 324707 0 75559 0 4114 0 765065 0 24896 0 1194341 0 0 0 GREGORY HIGGINS SVP/CHIEF ADMIN OFF/GEN C 304151 0 75382 0 845 0 123850 0 25736 0 529964 0 0 0 VIKRAM K ISRANI SVP/CHIEF RISK & FINANCE O 322129 0 85592 0 1165 0 357183 0 23646 0 789715 0 0 0 JAMES BUCHHOLZ VP-WINGS FINANCIAL ADVISOR 186109 0 0 0 270 0 6926 0 12927 0 206232 0 0 0 BRAD BYERS FINANCIAL ADVISOR 161602 0 16643 0 104 0 16771 0 23180 0 218300 0 0 0 SCOTT RAMSDALE VP-BUSINESS SERVICES 154543 0 38226 0 420 0 17970 0 19983 0 231142 0 0 0 ROXANNE JOHNSON VP - REAL ESTATE 156840 0 40208 0 341 0 18409 0 20090 0 235888 0 0 0 MICHAEL SAHR VP - PAYMENT SERVICES 141133 0 23947 0 388 0 15551 0 23898 0 204917 0 0 0 PART I, LINE 1A TIMOTHY KEEGAN - $940 - TRAVEL FOR COMPANION, TAXABLE PART I, LINES 4A-B R FRANK WEIDNER - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED VIKRAM K ISRANI - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED TIMOTHY A KEEGAN - PARTICIPATED IN 457(F) PLAN, RECEIVED PAYMENT OF $2,518,836 DAVID E MASON - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED JOHN J WAGNER - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED GREGORY W HIGGINS - PARTICIPATED IN 457(F) PLAN, NO PAYMENTS RECEIVED TIMOTHY A KEEGAN - RECEIVED SERVERANCE PAY OF $293,679 VIKRAM K ISRANI SVP/CHIEF RISK & FINANCE OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 4487227 4700461 0 1 1 DAVID E MASON SVP/DIGITAL & CHIEF INFORMATION OFFICER SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 3928287 4265358 0 1 1 R FRANK WEIDNER PRESIDENT/CEO SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 6403029 6988032 0 1 1 JOHN J WAGNER SVP/CHIEF MEMBER EXPERIENCE SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 3669789 4007870 0 1 1 GREGORY HIGGINS SVP/CHIEF ADMIN OFFICER/GENERAL COUNSEL SPLIT-DOLLAR LIFE INSURANCE UNDER REG 1.7872-15 X 3127526 3408242 0 1 1 23369963 MARK EVERSON CURRENT OFFICER FOR WINGS FINANCIAL CU 23974 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 2016. 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 2016. 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 2016. THIS WAS LAST DONE IN 2015 FOR 2016 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: BPPLTAX ADJUSTMENT ON INSTALLMENT SALE -101,683. 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 402147 1474284 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