Overview
What is Oklahoma Central Credit Union?
Oklahoma Central Credit Union is a state-chartered, 501(c)(14) financial institution based in Tulsa, Oklahoma, with a membership of 44,299 and 204 employees. Their primary mission is to provide various financial services to their members, including deposit accounts, investments, and loans. In 2022, the credit union's overall deposit balances increased by $218,000, representing 69,432 accounts. The savings category saw growth in regular certificates, checking, and money market accounts, while IRAs saw a decrease. The Credit Union's involvement in the Shared Branching Network and offering five convenient locations to its membership also contributed to its growth. In addition to serving its members, Oklahoma Central Credit Union offers financial wellness programs for select employee groups and financial literacy seminars to help members better manage their personal finances. Their ultimate goal is to make a positive difference in the lives of their employees, members, and the communities they serve.
Official website here: www.oklahomacentral.creditunion
What are the reviews and ratings of this charity?
Oklahoma Central Credit Union is not currently rated by Charity Navigator due to its status outside the typical 501(c)(3) nonprofit classification. As such, the organization lacks the requisite Accountability & Finance, Impact & Measurement, and other beacons required for a formal rating assessment. The absence of a rating is more indicative of its classification than performance.
Historically, Charity Navigator's evaluations have focused on aspects that could be loosely connected to today's Accountability and Finance scores. However, as a credit union, Oklahoma Central does not fit neatly into the structures used to assess more traditional nonprofits. This presents a challenge in benchmarking it against standard nonprofit evaluative metrics.
There are no available user reviews on GreatNonprofits for Oklahoma Central Credit Union. This absence of reviews means there isn't community-driven feedback to provide further insights into the credit union's strengths or areas where it might improve.
This AI summary has been generated from information found on Charity Navigator.
Is Oklahoma Central Credit Union legitimate?
Oklahoma Central Credit Union is a legitimate nonprofit organization registered as a 501(c)(14) entity. Oklahoma Central Credit Union submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $2,625,607
Professional Fundraising Fees: $0
Other Salaries and Wages: $4,830,382
For more financial information, click here
Official website here: www.oklahomacentral.creditunion
What is the mission statement of Oklahoma Central Credit Union?
Oklahoma Central Credit Union is dedicated to making a positive impact on the lives of its employees, members, and the communities it serves. As a financial institution, it offers various consumer and business financial services such as deposit accounts, investments, and loans. The credit union's mission extends beyond financial services, with a focus on promoting savings and enhancing the financial well-being of its members.
In 2022, the credit union saw an increase in overall deposit balances by $218K, with notable growth in savings, regular certificates, checking accounts, and money market. These savings categories totaled $19.9 million, representing 69,432 accounts from a membership base of 44,299. The momentum checking account and low-fee commercial checking account gained popularity, generating 238 and 17 new accounts, respectively.
Oklahoma Central Credit Union's commitment to its members extends beyond financial services. It offers financial wellness programs to select employee groups and financial literacy seminars to help members manage their personal finances effectively. The credit union's involvement in the Shared Branching Network and offering five convenient locations further strengthens its commitment to serving its members.
Official website here: www.oklahomacentral.creditunion
Who is the CEO of Oklahoma Central Credit Union?
Eugenia Wilson is the Chief Executive Officer of Oklahoma Central Credit Union. The CEO's salary of Oklahoma Central Credit Union is $2,037,516 and their total compensation is $2,209,837.
Official website here: www.oklahomacentral.creditunion
What is the revenue of Oklahoma Central Credit Union?
Oklahoma Central Credit Union's revenue in 2022 was $26,582,769.
Official website here: www.oklahomacentral.creditunion
Who are the executives of Oklahoma Central Credit Union and what are their salaries?
The average compensation at Oklahoma Central Credit Union during 2022 was $36,549. There are 204 employees and 9 volunteers at Oklahoma Central Credit Union.
Here are 15 key members and their salaries (Oklahoma Central Credit Union's CEO's salary is $2,037,516 and their total compensation is $2,209,837):
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- Compensation: $2,037,516
- Related: $0
- Other: $172,321
- Compensation: $207,777
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- Other: $31,330
- Compensation: $167,998
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- Other: $8,664
- Compensation: $111,585
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- Other: $28,419
- Compensation: $114,698
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- Other: $23,155
- Compensation: $135,420
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- Other: $13,381
- Compensation: $102,389
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- Other: $14,867
- Compensation: $131,796
- Related: $0
- Other: $20,163
Official website here: www.oklahomacentral.creditunion
Where can I find the form 990 for Oklahoma Central Credit Union?
Oklahoma Central Credit Union's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.oklahomacentral.creditunion
Learn more at the official website: www.oklahomacentral.creditunion
Mission Statement of Oklahoma Central Credit Union
Oklahoma Central Credit Union, a 501(C)(14) organization, is dedicated to making a difference in the lives of its employees, members, and the communities it serves. As a state-chartered credit union, it offers financial services including deposit accounts, investments, and loans to its member-owners. The credit union's mission goes beyond providing financial services; it strives to make a meaningful impact.
In 2022, Oklahoma Central Credit Union saw a growth of over $218,000 in overall deposit balances. This increase was seen across various savings categories. Savings account balances reached $2.6 million, an increase of 1.16%. Regular certificates witnessed a significant jump of 10.92% to $6.8 million. Checking accounts also saw growth of 3.93% to $5.8 million. However, IRAs decreased by 6.90% to $3.4 million, and money market accounts grew 8.25% to $11.6 million. These figures represent 69,432 accounts from a total membership of 44,299, with an average savings of $14,150 per member.
The popularity of the Momentum Checking Account led to the creation of 238 new accounts during the year, while the Low-Fee Commercial Checking Account generated 17 new accounts. Oklahoma Central Credit Union's continued involvement in the Shared Branching Network offers members five convenient locations. The credit union's Financial Wellness Program provides valuable financial knowledge to select employee groups, while its Financial Literacy Program offers seminars to members on various topics to help them better manage their personal finances.
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Impact
October, 2024
Oklahoma Central Credit Union significantly impacts the lives of its members, employees, and the surrounding community through various financial services and educational initiatives. Their commitment to promoting savings is evident, as they recorded an overall increase in deposit balances of $218,000 in 2022, translating to a 0.03% growth from the previous year. This growth encompasses a diverse range of savings vehicles, including regular certificates, checking accounts, and money market accounts, all catering to a membership of 44,299 individuals.
The introduction of the Momentum Checking Account, which attracted 238 new accounts, and the addition of 17 new low-fee commercial checking accounts underscore their responsive approach to customer needs. Moreover, their involvement in the shared branching network ensures that members have access to financial services at five convenient locations.
Additionally, Oklahoma Central Credit Union places a strong emphasis on financial literacy and wellness. Their programs aim to enhance financial knowledge among employees of select groups, thereby equipping them with valuable tools for better financial management. Educational seminars covering various personal finance topics further empower members to navigate their financial journeys with confidence.
In essence, Oklahoma Central Credit Union is dedicated to fostering a financially literate community and providing valuable services that make a meaningful difference in the lives of its constituents.
This information is meant to be a general summary of Oklahoma Central Credit Union. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $3,984,363
- Program Service Revenue: $22,598,406
- Gross Receipts: $97,143,323
Assets and Liabilities:
- Total Assets: $692,106,442
- Total Liabilities: $629,259,241
- Net Assets: $62,847,201
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
INTEREST INCOME ON LOANS TO MEMBE
Revenue
$16,358,731
INTERCHANGE INCOME
Revenue
$2,699,829
OTHER INCOME
Revenue
$1,826,583
SERVICE CHARGES AND OTHER FEES
Revenue
$1,713,263
Organization Details
Founding Year
1941
Phone
(918) 664-6000Principal Officer
Eugenia Wilson
Main Address
4956 S PEORIA AVE, TULSA, OK, 74105
NTEE Category
Code: W60 - Public benefit
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