Oklahoma Central Credit Union

TO MAKE A DIFFERENCE IN THE LIVES OF OUR EMPLOYEES, MEMBERS, AND THE COMMUNITIES WE SERVE.

PROMOTE SAVINGS AND PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS - OVERALL DEPOSIT BALANCES GREW IN 2018 BY $14.2M OR 3.05% OVER THE PREVIOUS YEAR. SOME OF THE SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS AT $3.6M (2.56%); CHECKING AT $4.8M (5.15%); REGULAR CERTIFICATES AT $8.2M (12.92%); MMAS AT $183K (0.16%); IRA SAVINGS AT -$5.4M (-15.57%); IRA CD AT $2.7M (15.97%). THIS REPRESENTS A TOTAL OF 69,673 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 45,473 WITH AN AVERAGE SAVINGS OF $10,521 PER MEMBER. A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 731 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 76 NEW CHECKING ACCOUNTS. THE CREDIT UNION CONTINUED INVOLVEMENT IN THE SHARED BRANCHING NETWORK AND OFFERS 5 CONVENIENT LOCATIONS TO OUR MEMBERSHIP. OUR FINANCIAL WELLNESS PROGRAM PROVIDES EMPLOYEES OF OUR SEGS WITH VALUABLE INFORMATION DESIGNED TO INCREASE THEIR FINANCIAL KNOWLEDGE. THESE PROGRAMS ARE OFFERED TO SEVERAL OF OUR SEG GROUPS AND CONTINUE TO BE POPULAR. A FINANCIAL LITERACY PROGRAM OFFERED SEMINARS TO MEMBERS COVERING A WIDE ARRAY OF TOPICS DESIGNED TO HELP MEMBERS BETTER MANAGE THEIR PERSONAL FINANCES. TURBOTAX PRODUCTS ARE OFFERED AT A DISCOUNTED RATE TO OUR MEMBERSHIP ALONG WITH OUR FREE BILL PAYMENT SYSTEM AND MONEY MANAGEMENT, A FREE MONEY MANAGEMENT TOOL.

PROVIDE ENHANCED ACCESS TO CREDIT AT REASONABLE RATES - THE CREDIT UNION USES A PRUDENT LENDING PHILOSOPHY TO OFFER VARIOUS LOAN PRODUCTS AT A LOW COST FOR MEMBERS TO FINANCE THEIR HOMES, AUTOMOBILES, BOATS, COLLEGE EXPENSES, ETC. DURING 2018, THE CREDIT UNION APPROVED 6,242 LOAN REQUESTS FOR OVER $122.2M. A TOTAL OF 205 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $14.6M. IN THE MEMBER BUSINESS ARENA, WE APPROVED 7 COMMERCIAL LOAN REQUESTS TOTALING $10.3M FOR MEMBERS. THE CREDIT UNION IS IN ITS ELEVENTH YEAR OF COMMERCIAL LENDING - A DIRECT RESPONSE TO OUR SMALL BUSINESS OWNERS' REQUESTS FOR FINANCIAL SERVICES. PRODUCT OFFERINGS ALSO INCLUDED SHORT TERM (7-YEAR) MORTGAGE LOANS AT LOWER RATES. THE CREDIT UNION CONTINUES OFFERING HOME PROTECTION LOANS (STORM SHELTERS, GENERATORS, ETC.) AT A VERY LOW INTEREST RATE TO HELP MEMBERS AFFORD THE COSTLY EXPENSE OF ADDING A FORTIFIED STORM SHELTER AND BACKUP POWER GENERATION TO THEIR RESIDENCE.

COMMUNITY INVOLVEMENT: OKLAHOMA CENTRAL CREDIT UNION CONTINUES TO SUPPORT AND BE ACTIVE IN THE COMMUNITIES WE SERVE. IN 2018, OKLAHOMA CENTRAL SPONSORED OR WAS INVOLVED IN THE FOLLOWING: (1) CREDIT UNION YOUTH MONTH - ENCOURAGING YOUTH TO SET GOALS AND PLAN FOR THEIR FINANCIAL FUTURES THROUGH YOUTH SAVINGS ACCOUNTS.(2) THE ANNUAL CHARITY CONCERT AND RAISED OVER $29,500 FOR THE OKLAHOMA CENTRAL FOUNDATION. THIS MONEY WAS USED TO FUND THE SCHOLARSHIP PROGRAM AND FINANCIAL LITERACY PROGRAMS. (3) THE CREDIT UNION ONCE AGAIN ALLOWED STAFF 40 PAID HOURS OF COMMUNITY SERVICE TO GIVE BACK TO THE COMMUNITY. TO NAME A COUPLE OF BENEFICIARIES OF OUR 40 PAID HOURS OF COMMUNITY SERVICE ARE THE SPECIAL OLYMPICS OF OKLAHOMA AND THE AMERICAN CANCER SOCIETY. (4) OKLAHOMA CENTRAL MADE FINANCIAL DONATIONS THROUGH A REFER-A-FRIEND PROGRAM TO ORGANIZATIONS SUCH AS DVIS, FAMILY & CHILDREN'S SERVICES, JOHN 3:16 MISSION, AND ST. FRANCIS CHILDREN'S HOSPITAL.