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Since June 2008, the membership growth rate at the $2 billion Wings Financial Federal Credit Union has been on a steady decline providing more possible proof for the financial institution wanting to convert to a state charter.

According to June 30 NCUA financial performance data, the Apple Valley, Minn.-based credit union had 4.08% membership growth as of June 2008. The percentage went up to 4.22% in September 2008 but then dropped to 3.88% in December of that year. This year, Wings Financial’s membership growth continued to decrease at 1.06% in March 2009, which was behind its peer average of 3.90%. In June, the credit union’s slide continued on at 0.72% compared to its peer average of 4.66%.

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