Q2 2026
$19,383,957,291
Combined assets
958,216 members
Combined call-report checkpoint, supplied research via iBanknet
Policy & Stakeholders
Colorado: merger integration and authority
Ent + Wings: legal merger complete, integration expected through 2028.
Colorado policy
The interstate credit union merger framework is the lead policy context. Two 2026 banking laws add separate operational and merger-policy context.
Verified law / formal authority
Colorado law expressly permits a Colorado credit union to merge with a credit union chartered in another state, subject to required approvals. HB 24-1381 added this interstate merger authority effective August 7, 2024. It is the statutory pathway relevant to this transaction type, not an asserted cause of the Ent/Wings merger.
Merger-plan elements are the formal decision-planning bridge, not evidence of a software need. Applicable review, member vote, legal close and operational integration are distinct.
HB26-1110 ASSET Act
Effective August 12, 2026, the ASSET Act creates reporting and delay procedures for suspected vulnerable-adult financial exploitation at banks and credit unions within statutory scope.
An operational and fraud response change, not a balance sheet rule. Applicability depends on the statutory definitions and charter.
HB26-1427 premerger notification update
Effective August 12, 2026, HB26-1427 updates Colorado's Uniform Antitrust Pre-Merger Notification process, requiring a copy of federal HSR filings made before a merger to be filed with the Attorney General.
HSR thresholds are federal. Not every bank or credit union transaction triggers an HSR filing, so not every transaction triggers the Colorado copy filing.
Decision path
Seven-stage decision chain
- 1Institution decision
Boards approve the merger plan / authorize transaction
Participating boards decide to authorize the transaction. Institution decisions remain distinct from regulatory review and member approval.
- 2Verified law / formal authority
Reconcile the required merger-plan assumptions
Plan elements include asset/share ratios, member share adjustments, field of membership, governance and committee structure, management and employees, contracts and other required information. These are formal planning inputs, not proof of a software need.
- 3Verified law / formal authority
Financial Services Board / delegated Commissioner and NCUA review
Applicable interstate approvals involve participating boards, Commissioner and NCUA. The Financial Services Board has merger authority and may delegate powers where law and rule permit. The company reports NCUA and Colorado DFS approvals in September 2025; no transaction specific delegation instrument is established here.
- 4Verified law / formal authority
Members of the merging credit union vote where required
NCUA lists a December 4, 2025 vote for Wings Financial → Ent. The company says Wings members approved. Listing a vote and reporting its result are separate evidence.
- 5Institution decision
Complete the legal merger under the continuing Colorado charter
Legal merger became effective January 1, 2026. Legacy Wings Financial merged into Ent; the combined Wings institution operates under the continuing Colorado state charter.
- 6Institution decision
Integrate the combined institution
Combined Wings integrates systems, products, members and operating models through 2028, with funding, loans, deposits and balance sheet assumptions to reconcile. KeyStone is the selected core platform, not a Hedgehog replacement target.
- 7PolicySight interpretation
Compare actuals and decide whether to reforecast
PolicySight view: combined leadership can compare actual performance with merger / integration assumptions and decide whether to reforecast or change integration strategy. This is a planning interpretation, not a new statutory software requirement.
Affected institutions
Representative institutions in the Colorado state-charter ecosystem under the state charter and NCUA federal insurance framework. These are examples of institutions in the relevant ecosystem, not institutions known to have a current need.
Wings Credit Union / legacy Ent
Colorado state charter; combined organization after the January 1, 2026 legal merger.
Bellco Credit Union
Active state chartered credit union per its FFIEC profile.
Canvas Credit Union
Active state chartered credit union per its FFIEC profile.
Elevations Credit Union
Active state chartered credit union per its FFIEC profile.
Westerra Credit Union
Active state chartered credit union per its FFIEC profile and company page.
Cases & activity
Legally completed mergerIntegration expected through 2028
Ent + Wings: legal close, ongoing integration
Legal merger became effective January 1, 2026. Combined Wings operates under the continuing Colorado state charter. Operational integration is ongoing, not a pending transaction.
Why it matters
The legal merger is complete, but the combined institution is still integrating systems, products, operating models and financial assumptions through 2028. That creates repeated checkpoints for testing whether the original merger and integration assumptions are holding.
Known core-platform selection
Corelation announced on February 24, 2026 that combined Wings selected KeyStone as its core platform.
Hedgehog is not positioned as a replacement core. KeyStone selection does not establish coverage of all analytics, ALM, merger planning or workflows comparing expected results with actual results. Any Hedgehog fit would be complementary and is not yet established. No dissatisfaction or software search is inferred.
Decision consideration
Watch how actual combined funding, deposit, loan, capital and operating results compare with the assumptions used in the merger and integration plan.
Business implications
Integration over several years through 2028 creates repeated planning checkpoints where actual combined results can be compared with the merger and integration assumptions. Any fit would be complementary to the selected core and is not yet established.
Commercial relevance
Positioning opportunity: Integration over several years through 2028 creates repeated planning checkpoints where actual combined results can be compared with merger and integration assumptions.
Milestones and checkpoints
- Feb 28, 2025Occurred
Merger agreement signed
- Apr 23, 2025Occurred
Public announcement
- Sep 2025Company reported
NCUA and Colorado DFS approvals received
- Dec 4, 2025Company reported
Wings member vote listed by NCUA; company says members approved
- Jan 1, 2026Occurred
Legal merger effective under continuing Colorado state charter
- Feb 24, 2026Occurred
Corelation announces KeyStone core selection
- Q2 2026Reporting checkpoint
Combined call-report financial checkpoint
- Sep 2026Reporting checkpoint
Company financial checkpoint
- Through 2028Expected
Full systems integration expected to continue through 2028
At announcement, the company later reported roughly $9.9B in Ent assets / 560k members and $9.7B in legacy Wings assets / 371k members. Approximate historical scale, not current combined financials.
Combined financial checkpoints
Two distinct reporting periods. Q2 is the supplied combined call-report checkpoint; September is company-reported. These figures do not establish distress or a product need.
September 2026
$20,134,370,930
Combined assets
968,272 members
Current company-reported financial checkpoint
What happens next
Watch for a meaningful workflow comparing expected results with actual results, or an integration planning workflow, outside the selected core implementation. If existing tools already answer the question, the fit is limited.
Recommended focus: complementary analyticsColorado bank activity, federal approval authority
Bank transactions approved by the Federal Reserve. Federal approval authority is distinct from the state credit union merger framework.
High Plains Bank → First National Bank of Hugo
The Federal Reserve approved High Plains Bank of Flagler to merge with First National Bank of Hugo, with acquired branches in Hugo, Leadville and Limon. Federal Reserve approval authority.
FirstSun Capital Bancorp → First Foundation Inc.
A bank holding company transaction across states involving a Denver-based acquirer, approved by the Federal Reserve. Federal approval authority, distinct from state credit union merger authority.
Stakeholders & authority
Policy watch
Implementation and activity worth monitoring next. The integration item is activity, not legislation.
HB26-1110 ASSET Act implementation
Reporting and delay procedures for suspected vulnerable-adult financial exploitation at banks and credit unions within statutory scope.
HB26-1427 premerger notification update
Updates Colorado's HSR copy filing process with the Attorney General. Not every bank or credit union transaction triggers an HSR filing.
Ent + Wings operational integration
Operational integration continues through 2028. This is activity to monitor, not legislation.
ASSET Act detail
HB 26-1110 ASSET Act: operational intelligence, not Colorado's primary planning story. Do not force a product connection.
EffectiveAdditional context
ASSET Act changes how suspected financial exploitation transactions can be handled
- Law
- HB26-1110
- Effective
- August 12, 2026
- Applies to
- Banks as defined in Colorado law and credit unions described in Colorado law, per the act
What changed
HB26-1110 became law and creates the Adults' Security and Safeguards from Exploitation in Transactions Act. Qualified individuals must report suspected financial exploitation of a vulnerable adult to appropriate law enforcement or adult protective services; the institution or qualified individual may delay a disbursement when statutory conditions are met; notice, review, record-access and time limits apply.
Decision affected
Transaction controls, fraud response, account liquidity handling for affected customers, escalation procedures and operational governance. This is not a primary ALM or balance sheet rule.
Why it matters
Useful operational intelligence for Colorado banks and credit unions, but materially less connected to Hedgehog's core balance sheet value proposition than the California overdraft economics or Texas merger planning items.
Business implications
Limited and indirect. Elevate only if transaction behavior materially affects financial planning or assumptions. This is not a primary ALM or balance sheet rule and does not by itself create a need for Hedgehog.
What to watch
- Transaction volumes and internal fraud systems
- Charter and preemption questions
- How often delays occur
- Whether the operational effect is financially material
Recommended focus
- Watch whether the new authority to delay suspected exploitation transactions changes assumptions in fraud, liquidity or customer operations planning.
What to watch next: Minimal transaction volume or an immaterial effect on operations and customer behavior.