Wings Financial CU Buys Three Branches and Depositors from Minnesota Bank

Wings Financial Credit Union (Apple Valley, MN) has agreed to purchase three branches from KleinBank (Chaska, MN).

As part of the deal, the credit union will buy branches in the Minnesota communities of Coon Rapids, Otsego and Plymouth. In addition, 4,500 customer of KleinBank will become members of the credit union.

Roughly $40 million in deposits and $10 million in loans will be transferred to Wings Financial.

Wings Financial did not disclose the price of the deal, which is expected to close in the second quarter.

Read the story.