Press
StarTrust Members Vote “Yes” to Merge with InvesTex Credit Union
HOUSTON, TX (April 25, 2013) – The members of $50 million StarTrust Federal Credit Union voted overwhelmingly in favor of the proposed merger with $120 million InvesTex Credit Union. This follows the NCUA’s and Texas Credit Union Department’s preliminary approval of the merger in March 2013. The effective date is June 30, 2013 and the post-merger credit union will be InvesTex Credit Union.
Current CEO of InvesTex Credit Union, Keith Kearney, stated that “this is a merger of two friendly organizations to combine resources and enhance services. The strength of both credit unions combined into one allows for efficient use of resources, enhanced services for members, and other competitive advantages in a strong Houston market. We are excited about the opportunities that this merger will bring and we are honored that StarTrust FCU has placed their trust in us!”
“InvesTex is a well-run operation whose membership, branch network, Houston location, culture, strategies and financial strength blend well with the needs of StarTrust FCU” stated Debra Weir, current President of StarTrust FCU. Debra explained that “there are multiple reasons for the merger with InvesTex Credit Union, not-withstanding the current economic and regulatory climate. The key component in the decision process is member benefit. The partnership brings many immediate benefits including access to additional branch locations, hours of service and expanded product offerings – with the same friendly personalized and efficient service StarTrust members had for over 30 years.”
The combined credit union will create more than $170 million in assets, over 27,000 members, with six locations in the Houston area. All StarTrust employees will continue to be employed following the merger and the current StarTrust FCU branch located in downtown Houston will be added to InvesTex Credit Union’s branch network. The main office will be headquartered at 905 Aldine Bender, Houston, TX 77032.
For additional information about the InvesTex Credit Union, visit www.InvesTexCU.org.