APPLE VALLEY, Minn. — After nearly two decades of membership with NAFCU, Wings Financial Federal Credit Union ended its membership with the association in the third quarter of 2006.
The $1.6 billion credit union had been a member of NAFCU since 1988, according to the trade group. No reason was provided as to why Wings Financial ended the affiliation, NAFCU said.
Meanwhile, Wings Financial President/CEO Paul Parish, who had been elected to CUNA's board in 2003 for a three-year term that began Oct. 1 of that year, said in August 2006 that the credit union would disaffiliate from the trade group, according to CUNA. That move automatically made Parish ineligible to continue serving on the board. He, too, left the board in August 2006. According to CUNA, with the change in its annual general meeting in 2006 from September to February, it extended all directors' terms another five months. Parish's term was due to expire in February 2007 rather than the September/October 2006 timeframe.
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As with NAFCU, no reason was provided as to why Parish left CUNA's board. Wings Financial has not responded to questions on why the CU ended its affiliation with NAFCU and CUNA.
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