Wings Credit Union Acquires Settlers bank
Subject to Regulatory Approval
APPLE VALLEY, Minn. (JUL 10, 2023) - Settlers bank and Wings Credit Union announced that Wings has successfully acquired the bank, joining forces to bring additional choice, value and access to consumers.
The transaction closed on July 1, 2023. All Settlers bank locations will remain open and, as of that date, have been re-branded as Settlers best Credit Union, a division of Wings Credit Union. To learn more, visit www.SettlersWI.com.
“We are excited to introduce Wings to the Wisconsin market,” said Frank Weidner, Wings Credit Union President and CEO. “The partnership with Settlers is a great fit and we are excited for the ability to serve our communities even better with more solutions, greater access and the same talented teams as before.”
"The cultures of our two organizations could not be a better match for each other and our communities. Joining forces with such a proud organization is an honor and a genuine pleasure,” said Settlers bank Founder and CEO, Tom Spitz.
Settlers bank was represented by Boardman & Clark, LLP, Madison, WI, and Oak Ridge Financial Services Group, Inc. served as financial advisor. Raymond James & Associates, Inc. served as financial advisor and Honigman LLP, Chicago, IL served as legal advisor to Wings Financial Credit Union.
About Wings Credit Union
Wings Credit Union is Minnesota’s largest credit union and one of the top credit unions nationally, with $8.5 billion in assets and more than 360,000 members. In 2023, Wings was named one of the top credit unions nationally by Gobankingrates.com as well as being named a Best in Business top credit union by Twin Cities Business Magazine and a Minnesota Top workplace for the 11th consecutive year by the StarTribune. To learn more, visit www.wingscu.com
About Settlers best Credit Union
Settlers best Credit Union is a division of Wings Credit Union, and a premier provider of commercial, treasury, mortgage, and private banking services. To learn more, visit www.SettlersWI.com.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation