The $51 million, 4,936-member StarTrust Federal Credit Union (formerly Enron FCU) in Houstonwill merge with the $120 million, 22,763-member InvesTex CreditUnion also of Houston on June 30.

StarTrust FCU members “overwhelmingly” voted to approve themerger recently, according to an InvesTex CU statement on Thursday.NCUA and the Texas Credit Union Department gave their preliminaryapproval of the merger in March, according to InvesTex.

StarTrust's roots date back to 1978 when it opened as HoustonNatural Gas Credit Union to offer financial services to HNGemployees. In 1986, the gas company's name was changed to EnronCorp. and the credit union's name also was changed to EnronFCU.

However, the credit union's deposits, loans and membership fellafter Enron filed for bankruptcy protection in December 2001. Tomake a fresh start, the credit union changed its name, moved to anew location and expanded its field of membership during the springand summer of 2002.

Over the last five years, however, StarTrust has been strugglingfinancially with a net worth of 6.90% posted at the end of lastyear, Since, 2008, the credit union has seen declining loans,investment and fee income, and it also has lost members.

According to NCUA financial performance reports, StarTrust'sloan income has dropped from $1.7 million in 2008 to $1.3 millionin 2012. Investment income fell from $569,650 to $203,834 and feeincome decreased from $600,241 to $463,078 in the same years.Membership has also fallen from 6,686 in 2008 to 4,936, accordingto Callahan & Associates data.

Post merger, all 11 StarTrust employees will continue to beemployed with InvesTex and the current StarTrust FCU branch indowntown Houston will be added to InvesTex Credit Union's branchnetwork.

The combined credit union will have more than $170 million inassets, over 27,000 members, with six locations in the Houstonarea.