APPLE VALLEY, Minn. — Wings Financial Federal Credit Union is reassuring members that the financial institution is "safe and secure" in the midst of the subprime mortgage crisis and liquidity issues affecting markets worldwide.

In a post on its Web site (www.wingsfinancial.com), the $1.8 billion Wings Financial said many Wings members have raised questions as to the credit union's "ownership of distressed assets."

"We are pleased to report that Wings never entered into the underwriting of subprime mortgages, and our investment portfolio has virtually no exposure to risk from these types of investments (less than 0.05% of our total assets could be considered exposed)," according to the Web posting.

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