Astera Credit Union Members Approve Merger with Adventure Credit Union in Overwhelming Vote

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.