Minnesota’s largest credit union has filed plans to swoop into the Med City market by building a new branch.
Wings Financial Credit Union, which already has 26 Minnesota branches plus one in Northfield that will open soon, filed the first paperwork with the City of Rochester on Tuesday to build a new steel frame, 3,271-square-foot office building on open land near the West Circle Hy-Vee grocery store.
This will be Wings' first Rochester branch.
Not a lot of details are known about the project yet. However, the early filings estimate the total value of the project at $2.5 million.
This branch will extend the reach of the rapidly growing credit union. Wings Financial Credit Union reports having more than 300,000 members nationally with branches in Minnesota, Michigan, Florida, Georgia and Washington.
The addition of a new institution may accrue more interest in northwest Rochester’s growing financial district along West Circle Drive. Given the number of banks and credit unions in the area, some people (me) are using a new nickname for the area -- "Destination Money Center."
That stretch of West Circle Drive has seen many banks and credit unions build branches there in recent years.
First Alliance Credit Union, Altra Federal Credit Union, Sterling State Bank, West Bank, F & M Community Bank, Foresight Bank, Home Federal Savings Bank, Associated Bank, the Mayo Employees Federal Credit Union, Think Mutual Bank and US Bank all have locations in that area.
I hope to have more details about Wings' building in Rochester soon.