Adventure Credit Union and Astera Credit Union Announce Intent to Merge
Adventure Credit Union and Astera Credit Union announced their plans to merge, pending regulatory approval and a membership vote. This strategic merger will combine the strengths of both credit unions, creating a stronger and more resilient financial institution dedicated to serving members and communities across Michigan.
Adventure Credit Union and Astera Credit Union have long histories of providing exceptional financial products and services to their members. By joining together, the combined credit union will leverage shared resources and expertise to deliver enhanced value to their members while maintaining a strong commitment to the communities they serve.
Set to be finalized by the end of 2024, this partnership represents a member-focused effort that would allow the combined organization to enhance the credit union’s commitment to greater access and convenience and increased member value. Overall, the combined assets would be more than $640 million, serving more than 46,000 members with 11 branches throughout the Lansing and Greater Grand Rapids area. If approved, the combined credit union will do business as Adventure Credit Union.
“We are thrilled to join forces with Astera Credit Union. Together, we will be able to offer even more robust products and services, while maintaining the exceptional member service and community focus that our members have come to expect.” said Adventure CEO Amanda Garabedian. “We are excited to welcome the Astera team and members and look forward to a bright future together.”
Astera CEO Martin Carter agreed, "We are working collaboratively to pool our resources, the foundation of credit union existence. We are positioning ourselves to offer even greater value to our members through expanded services and enhanced financial stability,. By uniting our credit unions, we are able to serve our members more effectively and contribute more to the communities we serve.”
As member-owned cooperatives, and under the guidelines of the National Credit Union Association, full merger approval is contingent upon Astera’s member approval. Upon that approval, the entities will become Adventure Credit Union. As the merger process moves forward, both credit unions will provide information to their respective memberships via their websites, and other applicable communication channels.
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