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Nonprofiteer
← WINGS FINANCIAL CREDIT UNION

Form 990 for tax year 2024

Filed by WINGS FINANCIAL CREDIT UNION.

Totals

Total revenue
$476,138,898
Total expenses
$470,089,500
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$407,523,296
Investment income
$67,530,028
Other revenue
$1,085,574
Total assets, end of year
$9,371,410,076
Total liabilities, end of year
$8,504,582,160
Net assets or fund balances, end of year
$866,827,916
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: LOAN INTEREST INCOME

    total $341,493,955 · related or exempt $341,493,955

  • 2b · Program service revenue: INTERCHANGE INCOME

    total $28,383,301 · related or exempt $28,383,301

  • 2c · Program service revenue: OTHER OPERATING INCOME

    total $21,729,933 · related or exempt $21,729,933

  • 2d · Program service revenue: FEE INCOME

    total $15,916,107 · related or exempt $15,815,959 · unrelated business $100,148

  • 3 · Investment income

    total $68,462,487 · excluded $68,462,487

  • 6a · Gross rents

    real property $1,067,458

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $1,067,458

  • 6d · Net rental income or loss

    total $1,067,458 · excluded $1,067,458

  • 7a · Gross sales of assets other than inventory

    securities $115,242,000 · other assets $1,868,329

  • 7b · Less cost or other basis and sales expenses

    securities $116,363,624 · other assets $1,679,164

  • 7c · Gain or loss

    securities -$1,121,624 · other assets $189,165

  • 7d · Net gain or loss

    total -$932,459 · excluded -$932,459

  • 11a · Other revenue: OTHER NON-OPERATING INCOME

    total $18,116 · related or exempt $18,116

  • 11e · Other revenue, total

    $18,116

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $12,802,127

  • 7 · Other salaries and wages

    total $56,715,018

  • 8 · Pension plan contributions

    total $6,366,439

  • 9 · Other employee benefits

    total $22,279,653

  • 10 · Payroll taxes

    total $8,343,214

  • 11c · Fees: accounting

    total $257,783

  • 11g · Fees: other

    total $19,631,201

  • 12 · Advertising and promotion

    total $4,273,701

  • 13 · Office expenses

    total $19,032,472

  • 14 · Information technology

    total $3,007,219

  • 16 · Occupancy

    total $6,695,714

  • 17 · Travel

    total $326,927

  • 19 · Conferences, conventions and meetings

    total $538,624

  • 20 · Interest

    total $73,820,857

  • 22 · Depreciation, depletion and amortization

    total $8,660,463

  • 23 · Insurance

    total $625,082

  • 24a · Other expenses: DIVIDENDS PAID TO MEMBE

    total $145,360,807

  • 24b · Other expenses: PROVISION FOR CREDIT LO

    total $68,655,950

  • 24c · Other expenses: LOAN PROCESSING

    total $8,647,996

  • 24d · Other expenses: OPERATING FEES

    total $276,470

  • 24e · All other expenses

    total $3,771,783

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $391,515,741 · end of year $275,128,828

  • 2 · Savings and temporary cash investments

    beginning of year $3,559,194 · end of year $518,828

  • 4 · Accounts receivable

    beginning of year $24,964,719 · end of year $27,802,785

  • 5 · Loans and receivables from officers and key people

    beginning of year $87,710,021 · end of year $88,696,784

  • 7 · Other notes and loans receivable

    beginning of year $6,587,923,789 · end of year $6,779,404,947

  • 9 · Prepaid expenses and deferred charges

    beginning of year $7,433,748 · end of year $9,236,753

  • 10a · Land, buildings and equipment: cost or other basis

    $121,640,671

  • 10b · Land, buildings and equipment: accumulated depreciation

    $49,972,209

  • 10c · Land, buildings and equipment, net

    beginning of year $73,660,038 · end of year $71,668,462

  • 12 · Investments: other securities

    beginning of year $2,147,251,684 · end of year $1,854,593,590

  • 14 · Intangible assets

    beginning of year $60,819,087 · end of year $60,819,087

  • 15 · Other assets

    beginning of year $283,555,532 · end of year $203,540,012

  • 17 · Accounts payable and accrued expenses

    beginning of year $88,292,147 · end of year $77,824,018

  • 21 · Escrow or custodial account liability

    beginning of year $19,625,235 · end of year $19,660,435

  • 23 · Secured mortgages and notes payable

    beginning of year $1,969,865,099 · end of year $1,376,024,670

  • 25 · Other liabilities

    beginning of year $6,777,277,139 · end of year $7,031,073,037

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $813,333,933 · end of year $866,827,916

Mission and programs · 2024

Mission

EMBRACE THE COOPERATIVE SPIRIT TO GIVE FLIGHT TO OUR MEMBERS' FINANCIAL DREAMS

Activities or mission (Part I)

TO PROVIDE FINANCIAL PRODUCTS AND SERVICES TO OUR MEMBERS

  • AS A STATE-CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF LENDING SERVICES TO OUR MEMBERSHIP. WINGS FINANCIAL CREDIT UNION HAD 163,720 LOANS OUTSTANDING WITH BALANCES OF $6,805,223,888 AS OF 12/31/24.

  • AS A STATE-CHARTERED CREDIT UNION, WE PROVIDE A VARIETY OF DEPOSITORY SERVICES TO OUR MEMBERSHIP. WINGS FINANCIAL CREDIT UNION HAD 790,947 MEMBER ACCOUNTS WITH BALANCES OF $7,018,623,729 AS OF 12/31/24.

As filed on the 2024 return.

Listed in Part VII

  • R Frank Weidner

    PRESIDENT/CEO

    Total calculated
    $7,605,995
    From this org
    $7,538,476
    From related orgs
    $0
    Other
    $67,519
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $1,080,021
    Bonus
    $1,205,895
    Other
    $5,252,560
    Deferred
    $32,069
    Nontaxable benefits
    $35,450
    Filer's total
    $7,605,995

  • Jo Ann Harris

    FORMER CHAIRMAN

    Total calculated
    $12,500
    From this org
    $12,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Julie Rath

    CHAIRMAN

    Total calculated
    $49,000
    From this org
    $49,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Gregory Miller

    VICE CHAIRMAN

    Total calculated
    $44,000
    From this org
    $44,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Cheryl Minks

    SECRETARY/TREASURER

    Total calculated
    $44,000
    From this org
    $44,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Geoff Heck

    DIRECTOR

    Total calculated
    $44,000
    From this org
    $44,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mark Photiades

    FORMER DIRECTOR

    Total calculated
    $11,000
    From this org
    $11,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Drew Boeke

    DIRECTOR

    Total calculated
    $41,667
    From this org
    $41,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Elizabeth Caven

    DIRECTOR

    Total calculated
    $41,667
    From this org
    $41,667
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Vikram Israni

    FORMER SVP - CHIEF FINANCIAL OFFICER

    Total calculated
    $465,878
    From this org
    $436,752
    From related orgs
    $0
    Other
    $29,126
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $72,911
    Bonus
    $361,422
    Other
    $2,419
    Deferred
    $24,390
    Nontaxable benefits
    $4,736
    Filer's total
    $465,878

  • Scott Kuhlman

    SVP - CHIEF FINANCIAL OFFICER

    Total calculated
    $425,706
    From this org
    $362,480
    From related orgs
    $0
    Other
    $63,226
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,048
    Bonus
    $45,973
    Other
    $1,459
    Deferred
    $29,276
    Nontaxable benefits
    $33,950
    Filer's total
    $425,706

  • Norm Creveling

    SVP - CHIEF LENDING OFFICER

    Total calculated
    $880,445
    From this org
    $717,516
    From related orgs
    $0
    Other
    $162,929
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $369,951
    Bonus
    $335,204
    Other
    $12,361
    Deferred
    $134,500
    Nontaxable benefits
    $28,429
    Filer's total
    $880,445

  • Gregory Higgins

    SVP - CHIEF ADMINISTRATION OFFICER/GENERAL COUNSEL

    Total calculated
    $874,951
    From this org
    $801,784
    From related orgs
    $0
    Other
    $73,167
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $409,639
    Bonus
    $378,407
    Other
    $13,738
    Deferred
    $34,500
    Nontaxable benefits
    $38,667
    Filer's total
    $874,951

  • John Wagner

    SVP - CHIEF MEMBER EXPERIENCE OFFICER

    Total calculated
    $871,656
    From this org
    $796,067
    From related orgs
    $0
    Other
    $75,589
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $406,379
    Bonus
    $374,858
    Other
    $14,830
    Deferred
    $34,500
    Nontaxable benefits
    $41,089
    Filer's total
    $871,656

  • Xiaosong Hou

    SVP - CHIEF DATA AND TECHNOLOGY OFFICER/CIO

    Total calculated
    $748,844
    From this org
    $677,445
    From related orgs
    $0
    Other
    $71,399
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $361,882
    Bonus
    $303,179
    Other
    $12,384
    Deferred
    $34,500
    Nontaxable benefits
    $36,899
    Filer's total
    $748,844

  • Bradley Grant

    FORMER SVP - CHIEF TECHNOLOGY OFFICER

    Total calculated
    $640,819
    From this org
    $609,022
    From related orgs
    $0
    Other
    $31,797
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $41,308
    Bonus
    $262,728
    Other
    $304,986
    Deferred
    $26,417
    Nontaxable benefits
    $5,380
    Filer's total
    $640,819

  • Marc Kenville

    SR FINANCIAL ADVISOR

    Total calculated
    $487,145
    From this org
    $425,874
    From related orgs
    $0
    Other
    $61,271
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $38,351
    Bonus
    $386,120
    Other
    $1,403
    Deferred
    $33,664
    Nontaxable benefits
    $27,607
    Filer's total
    $487,145

  • Jeffrey Petronack

    SR FINANCIAL ADVISOR

    Total calculated
    $449,388
    From this org
    $392,695
    From related orgs
    $0
    Other
    $56,693
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $37,349
    Bonus
    $354,916
    Other
    $430
    Deferred
    $23,183
    Nontaxable benefits
    $33,510
    Filer's total
    $449,388

  • Shane Irons

    SR FINANCIAL ADVISOR

    Total calculated
    $425,524
    From this org
    $357,125
    From related orgs
    $0
    Other
    $68,399
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $37,342
    Bonus
    $319,400
    Other
    $383
    Deferred
    $34,500
    Nontaxable benefits
    $33,899
    Filer's total
    $425,524

  • Thomas Spitz

    EXECUTIVE STRATEGIST

    Total calculated
    $454,432
    From this org
    $396,481
    From related orgs
    $0
    Other
    $57,951
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $238,060
    Bonus
    $152,615
    Other
    $5,806
    Deferred
    $26,995
    Nontaxable benefits
    $30,956
    Filer's total
    $454,432

  • David Fink

    EXECUTIVE STRATEGIST

    Total calculated
    $453,458
    From this org
    $394,123
    From related orgs
    $0
    Other
    $59,335
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $237,742
    Bonus
    $152,615
    Other
    $3,766
    Deferred
    $23,746
    Nontaxable benefits
    $35,589
    Filer's total
    $453,458

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
FIRST-CLASS OR CHARTER TRAVEL - WINGS FINANCIAL CREDIT UNION (THE CREDIT UNION) REIMBURSED AUTO EXPENSES TO R FRANK WEIDNER, JOHN WAGNER, GREGORY HIGGINS, VIKRAM ISRANI, NORM CREVELING, BRADLEY GRANT, AND XIAOSONG HOU. THE AMOUNTS RECEIVED ARE REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. TRAVEL FOR COMPANIONS - WINGS FINANCIAL CREDIT UNION (THE CREDIT UNION) REIMBURSED SPOUSAL TRAVEL EXPENSES TO R FRANK WEIDNER, JOHN WAGNER, GREGORY HIGGINS, VIKRAM ISRANI, NORM CREVELING, BRADLEY GRANT, XIAOSONG HOU, JULIE RATH, GREGORY MILLER, CHERYL MINKS, GEOFF HECK, DREW BOEKE, ELIZABETH CAVEN, JO ANN HARRIS, AND MARK PHOTIADES. THE AMOUNTS RECEIVED ARE REPORTED AS REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS - WINGS FINANCIAL CREDIT UNION (THE CREDIT UNION) PAID TAX INDEMNIFICATION AND GROSS-UP PAYMENTS TO R FRANK WEIDNER, JOHN WAGNER, GREGORY HIGGINS, VIKRAM ISRANI, NORM CREVELING, BRADLEY GRANT, AND XIAOSONG HOU. THE AMOUNTS RECEIVED ARE REPORTED AS OTHER REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II.
PART I, LINES 4A-B
BRADLEY GRANT, FORMER SVP - CHIEF TECHNOLOGY OFFICER, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $302,848 IN TAX YEAR 2024. THIS AMOUNT IS INCLUDED IN OTHER REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II. R FRANK WEIDNER, PRESIDENT/CEO, AND NORM CREVELING, SVP - CHIEF LENDING OFFICER, PARTICIPATED IN A NON-QUALIFIED DEFERRED COMPENSATION PLAN IN 2024 SPONSORED BY WINGS FINANCIAL CREDIT UNION. THE DISTRIBUTION AMOUNT SHOWN BELOW IS INCLUDED IN OTHER REPORTABLE COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II: R FRANK WEIDNER - $5,227,326 THE DEFINED BENEFIT LIABILITY ACCRUAL AMOUNT SHOWN BELOW IS INCLUDED AS DEFERRED COMPENSATION ON FORM 990, PART VII AND SCHEDULE J, PART II: NORM CREVELING - $100,000

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WINGS FINANCIAL ADVISORS LLC

    TAX/ACCOUNTING SERVICES · MN · income $0 · assets $0

    Directly controlled by WINGS FINANCIAL CREDIT UNION

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • NL 8200 TOWER LLC

    RELATED · COMMERCIAL BUILDING RENTAL · MN · 64% owned · share of income -$2,497,712 · share of assets $14,285,623

    Directly controlled by WINGS FINANCIAL CREDIT UNION

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202523189349309687

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