APPLE VALLEY, Minn. — The $1.6 billion Wings Financial Federal Credit Union does not plan to attempt to convert its charter to that of a mutual bank even though its CEO, Paul Parish, resigned from different positions with CUNA and NAFCU over the charter change issue.
|According to Jack Wagner, vice president with the credit union, Parish left the CUNA board and Wings pulled out of NAFCU because Parish believes the two groups are focusing too much attention on trying to keep credit unions from leaving and not enough on improving the credit union charter. A CUNA spokesman said that Wings has also notified CUNA the CU would be disaffiliating, but Wagner could not confirm that and said that the CU's CUNA dues are paid through the end of the 2006. But the argument over charter conversion policy does not mean that Wings FCU will follow nearby fellow Minnesota FCU Think in seeking to convert its charter, Wagner said.
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