The two largest credit unions in Colorado and Minnesota are joining forces in a merger leaders from both financial institutions said will strengthen their service offerings while maintaining their local roots.

Colorado Springs-based Ent Credit Union and Wings Credit Union, based in the Twin Cities suburb of Apple Valley, Minn., announced the merger of equals in a joint news release Wednesday. Both companies signed the agreement to merge on the last day of February.

“We really are equals and we have similar business philosophies and cultures,” Chad Graves, president and CEO of Ent, told The Gazette ahead of the official announcement.

“Once the merger is completed, I think our members will be very happy because for the most part, nothing should feel different. This (merger) will amplify our services and the customer experiences because it will bring the best of both worlds.”

Both nonprofit credit unions offer a range of personal and business banking services, including digital banking, competitive lending rates and credit card, mortgage, personal loan and refinancing services

and more.

“Our financials, growth metrics, capital levels and things like that matched so well, so we knew that we had a good fit and they (Ent) shared a similar interest in this opportunity too. We knew going in that the value proposition for our members, employees and communities was going to be strong,” said Frank Weidner, CEO of Wings Credit Union.

Pam Nicholson, Ent’s board chairwoman, said the merger was an opportunity to “ensure an even brighter future” for the credit unions’ members.

“We are excited to leverage our combined strengths to do even more to elevate our service and make a positive difference for our local communities,” Nicholson said in the release.

As a nod to both companies’ aviation heritage, the newly formed credit union will be called Wings Credit Union. Ent was founded in Colorado Springs in 1957 to serve the former Ent Air Force Base, which closed in 1976, in the Knob Hill neighborhood. Wings was founded by seven Northwest Airlines employees in St. Paul, Minn., in 1938.

The newly formed Wings Credit Union will be among the largest credit unions in the U.S. and will operate with a Colorado state charter, according to the release. With combined assets of almost $20 billion, it will have nearly 90 locations in Colorado, Minnesota, Florida, Georgia, Michigan and Wisconsin, serving more than 900,000 members — predominantly in Colorado and Minnesota — when it is legally combined in 2026.

Credit union members won’t experience immediate change, officials reiterated in the release. The credit unions will continue operating independently while the merger process undergoes regulatory approval and a vote by current Wings members.

No branch closings or relocations of any Ent or Wings branches are planned as a result of the merger, said Graves, who will lead the newly formed Wings Credit Union as its CEO. The new credit union will also maintain two headquarters, which will remain in Colorado Springs and in Apple Valley, Minn.

No jobs will be lost in the merger, either, Graves said. The credit unions collectively employ about 2,200 people, and it’s likely more employees will be hired once the merged Wings Credit Union is fully formed, Graves said.

Weidner said he will remain on temporarily, to act as a resource for Graves as both credit unions navigate through their full integration.

The chairperson of Wings Credit Union’s board of directors will chair the combined boards once the merger is complete; executive leadership of the newly formed Wings Credit Union will include an equal number of executives from Ent and the heritage Wings Credit Union, Weidner said.

With $9.9 billion in assets, Ent Credit Union serves more than 550,000 members with 59 locations across Colorado’s Front Range.

Wings Credit Union has $9.7 billion in assets, serving more than 371,000 members through 27 branch locations in Minnesota and offices in Florida, Georgia, Michigan and Wisconsin.