Astera Credit Union members approve merger with Adventure Credit Union in overwhelming vote
GRAND RAPIDS/LANSING, MI (October 30, 2024) — In a landmark decision, Astera Credit Union members have voted decisively in favor of merging with Adventure Credit Union. With an impressive 93% approval at the October 29th special meeting, the vote signals a resounding endorsement of the combined vision for the future of both credit unions.
The merger brings together two member-focused financial institutions that share a commitment to providing exceptional financial services and education to their members and communities. By combining resources, the new partnership enhances opportunities for members, broadens their access to financial products and services, and expands branch access across Michigan counties.
“We are excited about what the future holds for our combined membership and the credit union. This merger strengthens our ability to live out the mission and cooperative spirit that has always defined credit unions,” said Amanda Garabedian, Adventure Credit Union’s President/CEO. She noted that the merger will strengthen the ability of both institutions to deliver an exceptional banking experience to members. “Together we will continue to innovate while staying true to our roots as member-owned credit unions. We can’t wait to welcome Astera’s members and employees to our Adventure family.”
Martin Carter, President/CEO of Astera agreed, “We are thrilled by the overwhelming support from our members. This vote demonstrates their trust in our vision for growth and service enhancements that will come as a result of this merger.” Mr. Carter went on to say, “Together with Adventure Credit Union, we are positioned to offer even greater benefits and access to our members, all while maintaining our credit union’s commitment to personal, community-focused service they’ve come to rely on.”
The legal merger date is set for January 1, 2025, with operational integration continuing into late 2025. At the time of the legal merger, Astera Credit Union’s legal name will become “Astera Credit Union, a Division of Adventure Credit Union.” Both organizations will continue to serve members as usual as they ramp up efforts to fully integrate their systems.
As of the date of legal merger, Amanda Garabedian will remain the President/CEO of the combined organization, and Martin Carter will proceed with his planned retirement.
All members will continue to enjoy access to their accounts during the transition period. In the coming months, members will receive more information on how the merger will enhance their banking experience while maintaining the values of member-focused, locally-rooted financial service.
More information, including FAQs regarding the merger, can be found on both Adventure Credit Union and Astera Credit Union’s websites (www.adventurecu.org and www.asteracu.com), and other applicable communication channels.
About 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.
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.
