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Wings Financial Credit Union CDs review

Flexible terms and a 5-year step-up option, but earning higher rates requires a minimum balance.’s rating: 4.3 / 5.0


Savers looking to open a CD with Wings Financial Credit Union will find a variety of term options to choose from. Terms range from three months to five years. And a five-year step-up option allows savers to bump their CD once to a potentially higher rate.

Rates range from 0.15% to 1.11%, but the highest rates are reserved for larger balances. And you’ll need to become a Wings Financial member before opening a CD.

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1-year APY


3-year APY


5-year APY


Star rate4.3
3-month APY0.55%
6-month APY0.7% on CDs of $500 to $9,999.99
0.35% on CDs of $10,000 to $99,999.99
0.45% on CDs of $250,000+
1-year APY0.95% on CDs of $500 to $9,999.99
0.7% on CDs of $10,000 to $99,999.99
0.6% on CDs of $250,000+
18-month APY0.85%
2-year APY1.11%
3-year APY1.26% on CDs of $500 to $9,999.99
0.9% on CDs of $10,000 to $99,999.99
0.95% on CDs of $100,000 to $249,999.99
4-year APY1.36%
5-year APY1.61%
Early withdrawal penalty180 days interest for terms of 3 to 24 months
730 days interest for terms of 24 + months
Minimum deposit to open$500
Interest compoundingDaily

Review by

Matt Miczulski is an investments writer at Finder. After paying off $30,000 in debt in a little more than a year, he applied what he learned as a writer at FinanceBuzz, where he specialized in finance news, banking, debt and travel. He has been featured on MSN, Best Company, Money Done Right and Recruiter.

Expert review

A CD with Wings Financial Credit Union is best for existing customers or those already planning to join the credit union who want to keep all their banking under one roof. You have several term options to choose from, ranging from three months to five years. But while you need $500 — which is considerably low compared to other CDs that require $2,500 — the amount of interest you’ll earn depends on how much money you deposit into the CD.

For instance, Wings Financial Credit Union’s five-year CD earns interest ranging from 1.61% to 1.11% APY, which is higher than many other CDs on the market. But to earn the highest APY, you’ll need to deposit at least $250,000 in the CD.

While the $500 minimum opening deposit is low, there are some banks like Ally, that don’t require a minimum balance. But if you’re after a higher APY with a low $500 opening deposit, look at Quontic which earns 1.11% APY on its five-year CD.

How do I open a Wings Financial Credit Union CDs?

Become a Wings Financial Credit Union member and open a CD in seven steps.

  1. Go to the provider’s site and follow the steps to apply.
  2. Select Join Wings and then select Join Wings Today.
  3. Answer the qualifying questions, and then select Start application.
  4. Fill out the requested information, including your personal information and a valid ID number.
  5. Choose the accounts you want to sign up for in addition to the required “Share Savings” account.
  6. Provide a credit card or existing bank account to fund your new Wings Financial account.
  7. Review your information and submit your application.


Membership with Wings Financial is open to anyone who lives or works in:

  • An eligible Minnesota or Wisconsin county.
  • The Atlanta, GA metro area.
  • The Detroit, MI metro area.
  • The Orlando, FL metro area.
  • The Seattle-Tacoma, WA metro area.
  • Membership is also open to those who:

  • Have an immediate family member who is a Wings Financial member.
  • Currently work in, or are retired from the aviation industry.
  • Make a one-time donation of at least $5 to the Wings Financial Foundation.

Required information

Provide the following information as you apply for membership with Wings Financial:

  • Name
  • Date of birth
  • Social Security number
  • Phone number
  • Email address
  • Government-issued ID

Funding options

Fund your account with an existing Wings Financial Credit Union CDs account or using a linked external account.

3 benefits of a Wings Financial Credit Union CDs

Wings Financial Credit Union CDs offer the following benefits:

  • Free interest withdrawals. Your initial deposit is locked in until maturity, withdraw your interest for free at any time.
  • Low opening deposit. While the three-month CD has a $1,500 opening deposit, all other terms have a $500 opening deposit — quite low compared to other institutions.
  • Term flexibility. Terms range from three months to five years, giving you flexibility in how you save according to the timeline of your goals.
  • Five-year step-up option. With this option you can increase your CD once to a potentially higher rate and maintain that new rate for the remaining term of the CD.
  • Low minimum deposit. To open a CD you need at least $500. On average, this is low compared to other CDs that require deposits as high as $2,500.

2 things to watch out for

Beware of the following drawbacks of a Wings Financial Credit Union CDs:

  • High rates reserved for high balances. To earn the highest rate at 1.11% APY, you’ll need to keep at least $250,000 in the CD and hold it for a five-year term. Otherwise, you can keep at least $10,000 for a five-year term to earn 1% APY.
  • Membership requirement. You’ll need to meet membership eligibility requirements to open an account. If you don’t, your only option would be to make a one-time $5 donation to the Wings Financial Credit Union Foundation.

How does the 5-year Step-Up CD work?

According to a Wings Financial Credit Union representative, this step-up option is currently only available for terms of five years. The step-up rate is determined by the current five-year standard term CD rate for the price point you choose. Here’s an example of how it would work:

Suppose you open a $5,000 five-year Step-Up CD. For amounts between $500 and $99,999.99, Wings Financial Credit Union pays 0.9% APY. In contrast, Wings Financial Credit Union currently pays a 1.61% APY for its five-year standard term CD for the same $5,000 balance.

In year two, Wings Financial Credit Union increases its five-year standard term CD rates. For amounts of $500 to $9,999.99, rates increase from 1.61% APY to 1.05% APY. If you originally purchased the five-year standard term CD, you can’t take advantage of this higher rate without opening a new CD.

But if you open a CD with a step-up option, you can bump your rate from 0.9% APY to the higher 1.05% APY. This new rate will apply for the remaining three years.

In short, you’ll have the option to secure a higher rate if rates rise. But there’s no guarantee they will. If you don’t want to take that chance and want to secure a higher rate now, the five-year standard term CD might be the way to go.

Compare Wings Financial Credit Union with other CDs

Use this table to compare other CDs by APY and minimum opening deposits.

Name Product 1-year APY 18-month APY 2-year APY 3-year APY 4-year APY 5-year APY
Quontic Bank CD
Lock in a high rate. Minimum of $500 required to open. Open your account in 3 minutes or less
Bread Savings CDs
With a $1,500 minimum deposit, you'll receive competitive interest rates and no hidden fees with this CD. FDIC insured.
CIT Bank Term CDs
Choose from a range of terms with no maintenance fees and $1,000 minimum to open.
State Exchange Bank CD
Locally-owned independent community bank. FDIC insured. No fees.
Ponce Bank CD
Open a 5-month, 13-month or 48-month CD with some of the highest interest rates available today

Compare up to 4 providers

How do I cash in a CD?

When a CD reaches maturity, you’ll have 10 days to withdraw the funds or roll it into a different term without being charged an early withdrawal penalty.

Early withdrawals are subject to a fee based on the term length of your CD. Terms less than 24 months will incur a penalty equivalent to six months’ worth of dividends. Terms 24 months or greater incur a penalty equivalent to two years’ worth of dividends.

How to contact Wings Financial Credit Union customer service?

Contact Wings Financial Credit Union by phone, text, chat or email.

  • Call or text 800-692-2274.
  • Email
  • Live chat on Wing Financial’s website. You’ll start with a chatbot, but it will switch to a human representative if it can’t provide the help you need.

CDs ratings

★★★★★ — Excellent

★★★★★ — Good

★★★★★ — Average

★★★★★ — Subpar

★★★★★ — Poor

We rate CDs and share certificates on a scale ranging from one to five stars based on what matters most to you. We consider two factors equally when rating CDs: minimum deposits and annual percentage yields (APYs) relative to term length. If a bank requires a different minimum opening deposit depending on the chosen term, we rate the CD based on the average minimum deposit across all terms. And although some institutions offer CDs with terms ranging from one week to 20 years, we only consider term lengths the FDIC uses in its monthly updates on national rates.

Read the full methodology of how we rate CDs.

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