COLORADO SPRINGS, Colo.—A merger that would cross state lines and create a credit union of nearly $20 billion in assets and a presence in six states has been announced.

The $9.83-billion Ent Credit Union in Colorado Springs, Colo. and the $9.37-billion Wings Financial Credit Union in Apple Valley, Minn. said they are seeking to combine. 

In a statement, the credit unions said the combination “comes after thoughtful consideration between both credit unions in terms of service, sustainability and growth.”

If approved by members, the newly formed credit union will be led by Chad Graves, current president and CEO of Ent Credit Union, and will be called Wings Credit Union, with a Colorado state charter, the organizations said. 

Nearly 90 Branches

“As we have continued to expand our footprint across Colorado, we are committed to maintaining our roots of service to ensure great rates, first in-class mobile banking and top-notch service,” said Graves. “We are excited to offer members access to nearly 90 locations in Colorado, Florida, Georgia, Michigan, Minnesota and Wisconsin. We remain local enough to care about our communities and large enough to offer outstanding experiences, products and services,” said Chad Graves, President and CEO of Ent.

The combined credit union would have more than 900,000 members.

Shared Roots Cited

“With shared roots in aviation, the name Wings Credit Union celebrates our unique legacies and the positive impact ahead. The concepts of ‘Wings’ and flight also have strong connections to the ideas of upward movement, goals, aspirations and achievement. While our geographic footprint may be different, our values and culture are strongly aligned,” Wings Financial President Frank Weidner said in a statement. 

Plans call for the newly formed credit union will be legally combined in 2026.

Both organizations said they have been aligned in their commitment to giving back, donating more than $15 million collectively over the past decade. Each credit union noted they are considered a “Best in Class Workplace” by a variety of national and local organizations including USA Today, Forbes and Newsweek and puts a strong emphasis on taking care of employees.

Both credit unions are profitable, but while approximately the same size, Ent Credit Union is considerably more so, closing 2024 with $69.2-million in net income and net worth of 10.59%.  Wings Financial reported $16 million in net income and net worth of 11.63% as of the same date.