|
Once a member. Always a member. If your family is facing a change in working status, we want to remind you that membership is a lifetime benefit, and you may retain your membership in Wings Financial no matter where you live or work. Because the credit union is stable, growing, and very healthy, we are able to work with you to find solutions whenever possible.
Wings Financial's Member Services Team is uniquely qualified to help air transportation employees find solutions and answer questions you may have about your situation. For assistance, please call Member Services at 952-997-8000, option 2 or 1 (800) 692-2274, option 2.
FAQ For Members Facing Layoff
Membership and Accounts
return to top
Loans and Payments
return to top
IRA Accounts and Retirement Information
return to top
Are my funds on deposit in the credit union safe?
Yes! Your credit union is a fiscally sound institution that repeatedly receives the highest ratings for safety and soundness by both federal regulators and independent industry analysts alike. Your funds are completely safe and insured by the National Credit Union Share Insurance Fund (NCUSIF), an agency of the US Government.
return to top
If I am laid off, can I still keep my credit union membership?
Yes. Once a member always a member—you maintain all account holder benefits and services no matter where you live or work - even if you leave the air transportation industry.
return to top
Will the credit union freeze my funds on deposit in the event that I am laid off?
No. You continue to have full access to all of your funds. Your job status has no impact on your funds at the credit union.
return to top
How can I access my accounts at the credit union?
All of the credit union services will continue to be available to you, such as: CU Online (online banking) and Remote Deposit, which allows you to deposit checks online and receive immediate credit for the funds, Visa Check Card, ATMs, branch offices, and CU PAL (automated phone banking), , as well as our phone center which can be accessed by calling 1 (800) 692-2274.
return to top
Will the credit union know that I have been laid off?
No. It will be best if you notify the credit union regarding your change in employment status, however. You can do this by stopping at any branch or calling us at 1 (800) 692-2274 and speaking with a member service representative.
return to top
Will the credit union approve loans to members recently laid off?
We will attempt to help all of our members through this transition. The ability for us to grant additional credit will need to be handled on an individual basis as each member's needs, situation, collateral, and ability to repay will be unique. Please contact the credit union for your specifics needs.
For additional assistance with your financial situation, Wings offers a free, independent financial counseling service called BALANCE Financial Fitness...
return to top
Will my loans at the credit union be immediately called due?
No. Your loan payments are due as agreed to in your loan contract, however special payment reduction programs may be negotiated to assist those members facing financial hardship.
For additional assistance with your financial situation, Wings offers a free, independent financial counseling service called BALANCE Financial Fitness...
return to top
What type of programs are available to assist with my loan repayments?
We realize that each member has unique needs and we have several options available to help our members depending on individual circumstances. Our Member Services Representatives serve air transportation employees on a daily basis and are experts in dealing with loan and account questions as well as advising members on the options that exist for assistance.
For additional assistance with your financial situation, Wings offers a free, independent financial counseling service called BALANCE Financial Fitness...
return to top
Will my employment status affect my credit rating?
It is important that you contact the credit union if you are facing a financial hardship due to this change in employment status, so that repayment arrangements can be discussed that will keep your credit rating from being adversely affected.
For additional assistance with your financial situation, Wings offers a free, independent financial counseling service called BALANCE Financial Fitness...
return to top
Can the credit union provide financial advice for 401k elections and pension options?
Yes. Depending on the assistance you need, you can contact one of the following groups at the credit union:
- Wings Financial Advisors is staffed with individuals that can provide 401k rollover assistance, investment and financial planning assistance, and tax information. Wings Financial Advisors can be reached at 1 (800) 692-2274, option 8, ext. 8076.
- The Retirement Center can assist you with inquiries regarding IRAs. Contact them at 1 (800) 692-2274, option 8, ext. 8165.
return to top
Can I move my 401k into an IRA account?
Yes. There are multiple options available for a 401k rollover:
return to top
|
