Adventure Credit Union and Astera Credit Union announce intent to merge
GRAND RAPIDS/LANSING, MI (June 5, 2024) — Adventure Credit Union and Astera Credit Union are excited to announce 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 Amanda Garabedian, Adventure’s President/CEO. “We are excited to welcome the Astera team and members and look forward to a bright future together.”
Martin Carter, President/CEO of Astera, 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,” Carter said. “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
About Adventure Credit Union
Established in 1936, Adventure Credit Union is a community-based financial institution serving ten counties in the Greater Grand Rapids and Lansing metropolitan areas. Our team of Trusted Financial Guides serve more than 30,000 credit union members and manage over $440 million in assets. Adventure Credit Union offers a full suite of financial services for individual and business members including Edge Checking, one of the area’s best high yield checking accounts. Our mission is to be an indispensable resource and financial guide for helping members live the lives they want to live. Additionally, Adventure Credit Union has won state and national awards for their community service program, and has repeatedly been named one of the Best and Brightest Company to Work For in West Michigan. For more information, visit www.adventurecu.org.
Astera Credit Union
Astera is a local, community-chartered credit union serving the Greater Lansing area for over 75 years. Astera is a cooperative financial institution owned by its members and has a nationally recognized member-centric business focus of empowering financial health and wellbeing in the Lansing, DeWitt, and Ionia communities. Astera offers its communities access to affordable financial products, including an award-winning financial health program, a wide variety of loan types, savings accounts, electronic services, and more. The mission of empowering financial health in the community is provided through self-guided web apps and coach-guided services from knowledgeable staff to help members achieve financial independence. Astera has been recognized as one of the 2023 Top Work Places by the Detroit Free Press and 2023 Best Credit Unions to Work For by American Banker. For more information, visit Astera online at www.AsteraCU.com.
