Adventure Credit Union & Astera Credit Union Announce Intent to Merge
Subject to Regulatory Approval
CLAWSON, MI – December 18, 2023 – McQueen Financial Advisors provided exclusive financial advisory services.
On October 29, 2024, Astera Credit Union members voted in favor of merging with Adventure Credit Union. This approval represents a collaborative partnership between two Michigan-based community focused organizations for the benefit of our members, our employees, and our communities. We are eager to begin pooling our resources and talent to provide further efficiency and services to all those we serve. We are excited to officially welcome Astera Credit Union team members and members to Adventure Credit Union and we look forward to building a bright future together!
What happens next? After the legal merger date of January 1, 2025, we will begin working on integrating our two organizations, with the goal of having our core systems fully integrated in late 2025. For now, how you conduct business with both organizations will remain the same. Once the two credit unions are completely integrated, all branches will operate as one organization, giving you even more branching options throughout our Michigan counties.
About Adventure Credit Union
Adventure Credit Union has seven offices, including four in Kent County. The credit union had 31,419 members as of March 31 with $448.1 million in total assets and $384.2 million in total deposits, according to a quarterly financial report to federal regulators.
About Astera Credit Union
Astera Credit Union, with 14,762 members at the end of the first quarter, had $198.8 million in total assets and total deposits of $180.3 million. Loans totaled $115.5 million, including $35.5 million in commercial loans.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen advises on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Christian Abelarde
Vice President