Oklahomas Credit Union is located in Oklahoma City, OK. The organization was established in 1955. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2020, Oklahomas Credit Union employed 169 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Oklahomas Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2020, Oklahomas Credit Union generated $32.7m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $26.6m during the year ending 12/2020. While expenses have increased by 5.1% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
HELPING OKLAHOMANS DO MORE WITH THEIR MONEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING MEMBERS WITH COMPETITIVE SAVINGS AND LOAN PRODUCTS AND SERVICES SO THAT THEY CAN DO MORE WITH THEIR MONEY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Mark W Kelly President | Officer | 40 | $449,076 |
Luann Schmiedel Evp | Officer | 40 | $283,553 |
Philip Sherwin Senior VP - Cto | 40 | $207,552 | |
Ronda Bailey Senior VP - Clo | 40 | $199,875 | |
Jennifer Lown Senior VP - Marketing | 0 | $152,500 | |
Sherlyn Smith Senior VP - COO | 40 | $132,750 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $28,400,636 |
Investment income | $2,838,530 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $3,640 |
Net Rental Income | $71,460 |
Net Gain/Loss on Asset Sales | $13,760 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $32,680,789 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $810,232 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $7,168,648 |
Pension plan accruals and contributions | $585,653 |
Other employee benefits | $890,178 |
Payroll taxes | $556,377 |
Fees for services: Management | $6,864 |
Fees for services: Legal | $24,704 |
Fees for services: Accounting | $170,000 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $79,643 |
Advertising and promotion | $474,403 |
Office expenses | $453,136 |
Information technology | $2,792,673 |
Royalties | $0 |
Occupancy | $683,209 |
Travel | $9,889 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $136,851 |
Interest | $6,003,179 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $383,182 |
Insurance | $130,496 |
All other expenses | -$239,877 |
Total functional expenses | $26,578,890 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $2,670,541 |
Savings and temporary cash investments | $14,072,145 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $428,872,184 |
Loans from Officers, Directors, or Controlling Persons | $1,175,177 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $0 |
Prepaid expenses and deferred charges | $142,532 |
Net Land, buildings, and equipment | $13,718,236 |
Investments—publicly traded securities | $171,317,657 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $8,556,833 |
Total assets | $640,525,305 |
Accounts payable and accrued expenses | $509,216,562 |
Grants payable | $0 |
Deferred revenue | $0 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $288,319 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $46,500,000 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $331,119 |
Total liabilities | $556,336,000 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $0 |
Paid-in or capital surplus, or land, building, or equipment fund | $8,537,005 |
Retained earnings, endowment, accumulated income, or other funds | $75,652,300 |
Total liabilities and net assets/fund balances | $640,525,305 |
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