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Members of Wings Financial Credit Union in Apple Valley, Minn., on Thursday voted by a margin of more than 3 to 1 to approve a Jan. 1 merger with Ent Credit Union of Colorado Springs, Colo., in one of the year’s largest consolidations.
Of the 62,288 members who voted, 48,842 supported the merger and 13,446 opposed it, according to the final tally.
The combined financial cooperative will manage $19.1 billion in assets, $15.7 billion in loans and more than $2 billion in equity, according to third quarter NCUA financial performance reports. The merged organization’s 2,299 employees will operate 86 branches and serve more than 963,000 members.
“Integrating our two credit unions will be a gradual process,” Ent President/CEO, Chad Graves said. “We are focused on minimizing disruption and introducing benefit, even when our name changes. You can look for refreshed Wings branding to roll out in mid-2026.”
The first post-merger benefit set to launch next year is “one of the best-rated digital banking platforms in the U.S.,” Graves said. He will continue as president/CEO of the merged entity.
The credit union will retain the Wings brand, honoring the legacy of both institutions. Ent was founded in 1957 to serve military and civilian personnel at Ent Air Force Base and Peterson Field in Colorado Springs. Wings was established in 1938 by seven Northwest Airlines employees in St. Paul and originally named Northwest Airlines Employees Credit Union.
Although the credit unions are headquartered nearly 900 miles apart, Graves sees the merger as a gateway to new markets in Nebraska, South Dakota, Iowa, and other Midwestern states.
“We'll focus primarily on our core markets, which is Colorado, Minnesota and Wisconsin, but as opportunities come up in other markets between Minneapolis and Colorado Springs, we'll definitely take up any opportunities there,” Graves explained in an interview with CU Times in April when the merger was announced. “So I think you'll see us do a little bit more in rural locations, maybe a little bit more agriculture based lending, that type of thing, and serving the underserved in some of these outlying areas. We see ourselves really becoming the credit union of the Midwest in that way, and to serve in areas that maybe are not as well served today.”
Wings currently operates 26 branches in Minnesota, and one each in Orlando, Fla., Atlanta, Ga., and Detroit, Mich., along with two in Appleton and Windsor, Wis. Ent has no branches outside Colorado.
The board of the new financial cooperative will include 12 members, six from each credit union, and will be led by Wings Board Chair Greg Miller. Four executive vice presidents, two from each institution, will report to Graves, along with a broader leadership team composed of executives from both organizations.
Outgoing Wings CEO Frank Weidner will support the leadership transition but said he will step away after the merger is complete. He emphasized he is not retiring.
“I will be looking at different options but I want to stay somewhat plugged into the industry in some form,” he said.
Peter Strozniak can be reached at peter.strozniak@arc-network.com.
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