Map of Michigan.
Credit/Shutterstock
Michigan's $448 million Adventure Credit Union in Grand Rapids and the $198 million Astera Credit Union in Lansing announced last week that they plan to merge by the fall of this year, pending approvals from members and the NCUA.
The combined organization would manage $647 million in assets with 185 employees who would run 11 branches and serve more than 46,000 members.
If approved by the NCUA and Astera members, Amanda Garabedian, president/CEO of Adventure would serve as CEO of the combined financial cooperatives. Astera President/CEO Martin Carter would serve as president of the combined organizations until his retirement on Dec. 31, after which time Garabedian would become president/CEO.
Carter has served as Astera's CEO since 2015 and has worked in the credit union movement for more than 40 years.
"We are working collaboratively to pool our resources, the foundation of credit union existence," Carter said in a prepared statement. "We are positioning ourselves to offer even greater value to our members through expanded services and enhanced financial stability."
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
