2022-11-09T17:43:37-06:00 2021-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2021-01-01 730731221 OKLAHOMA CENTRAL CREDIT UNION OKLA 9186646000 4956 S PEORIA AVE TULSA OK 74105 BILL JOLIN CHIEF FINANCIAL OFFICER 9186646000 2022-11-09 1 BILL JOLIN 999009999 JENIFER L CHASE P01306883 5638884000 2022-11-09 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z EUGENIA WILSON 4956 S PEORIA AVE TULSA OK 74105 89299565 0 X WWW.OKLAHOMACENTRAL.CREDITUNION X 1941 OK TO MAKE A DIFFERENCE IN THE LIVES OF OUR EMPLOYEES, MEMBERS, AND THE COMMUNITIES WE SERVE. 7 7 182 9 133258 0 0 0 23326770 22605780 4891302 3881780 49542 51452 28267614 26539012 25000 25000 3345390 2123903 9579429 9565432 0 0 0 12025636 10812448 24975455 22526783 3292159 4012229 662316829 713131238 578674644 630443132 83642185 82688106 X OKLAHOMA CENTRAL CREDIT UNION IS A 501(C)(14), STATE CHARTERED CREDIT UNION. OKLAHOMA CENTRAL CREDIT UNION PROVIDES CONSUMER AND BUSINESS FINANCIAL SERVICES TO INCLUDE DEPOSIT ACCOUNTS, INVESTMENTS, AND LOANS. OUR MISSION IS TO MAKE A DIFFERENCE IN THE LIVES OF OUR EMPLOYEES, MEMBERS, AND THE COMMUNITIES WE SERVE. 0 0 PROMOTE SAVINGS AND PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS - OVERALL DEPOSIT BALANCES GREW IN 2021 BY $52.1M OR 9.07% OVER THE PREVIOUS YEAR. SOME OF THE SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS AT $36M (18.77%); REGULAR CERTIFICATES DECREASED $14.8M (19.33%); CHECKING AT $15.9M (12.13%), AND MONEY MARKET AT $13.3M (10.47%). IN TOTAL, THIS REPRESENTS 70,227 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 45,268 WITH AN AVERAGE SAVINGS OF $13,842 PER MEMBER. A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 290 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 27 NEW 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 SELECT EMPLOYEE GROUPS (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. 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 2021, THE CREDIT UNION APPROVED 5,643 LOAN REQUESTS FOR OVER $165.9M. A TOTAL OF 265 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $26.1M. THE CREDIT UNION IS IN ITS FOURTEENTH YEAR OF COMMERCIAL LENDING AS A DIRECT RESPONSE TO OUR SMALL BUSINESS OWNERS' REQUESTS FOR FINANCIAL SERVICES. PRODUCT OFFERINGS ALSO INCLUDE SHORT TERM (7-YEAR) MORTGAGE LOANS. 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 THESE ITEMS. COMMUNITY INVOLVEMENT: OKLAHOMA CENTRAL CREDIT UNION CONTINUES TO SUPPORT AND BE ACTIVE IN THE COMMUNITIES WE SERVE. IN 2021, 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) CONTRIBUTED $25K TO THE OKLAHOMA CENTRAL FOUNDATION. THIS MONEY WAS USED TO FUND FINANCIAL LITERACY, SCHOLARSHIPS, LOCAL TEACHER SUPPORT AND SCHOOL TECHNOLOGY.3) THE CREDIT UNION ONCE AGAIN ALLOWED 40 PAID HOURS OF COMMUNITY SERVICE TO GIVE BACK TO THE COMMUNITY. BY YEAR END 2021, EMPLOYEES CONTRIBUTED 1290 HOURS TO VARIOUS ORGANIZATIONS.4) OKLAHOMA CENTRAL MADE FINANCIAL DONATIONS THROUGH A REFER-A-FRIEND PROGRAM TO ORGANIZATIONS SUCH AS DOMESTIC VIOLENCE INTERVENTION SERVICES, INC. (DVIS), FAMILY & CHILDREN'S SERVICES, ST. FRANCIS CHILDREN'S HOSPITAL AND JOHN 3:16 MISSION. 0 0 0 0 0 0 0 1 0 1 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 8541 0 1 182 1 1 1 0 0 0 0 0 1 0 X 7 7 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 1 0 OK X BILL JOLIN 9186646000 4956 S PEORIA AVE TULSA OK 74105 ANNE DORMAN CHAIR 1.00 0.00 X X 0 0 0 SUSAN PHELPS VICE CHAIR 1.00 0.00 X X 0 0 0 TOM HILLE SECRETARY/TREASURER 1.00 0.00 X X 0 0 0 PENNY CHEFFEY DIRECTOR 1.00 0.00 X 0 0 0 JOEL DOLLAR DIRECTOR 1.00 0.00 X 0 0 0 JOHN KUSHNERICK DIRECTOR 1.00 0.00 X 0 0 0 ANDY MURPHREE DIRECTOR 1.00 0.00 X 0 0 0 EUGENIA WILSON CEO 40.00 1.00 X 1004410 0 58418 SHELLI SCHROEDER EVP CHIEF OPERATING OFFICER 40.00 0.00 X 199371 0 30108 BRAD SCHEIDT EVP CHIEF FINANCE & STRATEGY OFFICER (UNTIL 8/2021 40.00 0.00 X 156565 0 19780 WILLIAM JOLIN CHIEF FINANCIAL OFFICER 40.00 0.00 X 158525 0 7924 KATHLEEN MANNING DIRECTOR OF MARKETING 40.00 0.00 X 108346 0 28279 MARGUERITE VAVRICK DIRECTOR OF HR 40.00 0.00 X 113192 0 22828 JEREMY LIPPIATT VP OF INTEGRATED TECHNOLOGY SERVICES 40.00 0.00 X 137537 0 13391 1877946 0 180728 7 0 1 0 FISERV INC 255 FISERV DRIVE BROOKFIELD WI 53045 SOFTWARE SERVICES 957760 NCR CORPORATION 864 SPRING STREET NW ATLANTA GA 30308 STATEMENTS/HOME BANKING 822706 N2 ADVERTISING LLC 6910 S YORKTOWN AVENUE SUITE 70275 TULSA OK 74170 ADVERTISING 617525 SHI INTERNATIONAL CORP 290 DAVIDSON AVENUE SOMERSET NJ 08873 SOFTWARE SERVICES 332501 PRAETORIA GROUP LLC 115 W 3RD STREET SUITE 803 TULSA OK 74103 SECURITY 310513 21 INTEREST INCOME ON LOANS TO MEMBE 522100 15672199 15672199 INTERCHANGE INCOME 522100 2841866 2841866 SERVICE CHARGES AND OTHER FEES 522100 2683960 2582916 101044 OTHER INCOME 522100 1407755 1375541 32214 22605780 3525338 3525338 51452 0 51452 51452 51452 63116995 62760553 356442 356442 356442 26539012 22472522 133258 3933232 25000 2123903 1635100 5991352 203671 1068078 667231 28684 174920 357392 863665 2338242 2189935 1347765 33741 4 1775628 172017 LOAN SERVICING COSTS 719011 PROVISION FOR LOAN LOSS 597710 STATE INCOME TAX 213734 22526783 33979051 35034151 1045833 978453 328629451 342291027 622591 596011 41592775 21556973 21107639 20035802 257954925 294341800 18977339 19853994 662316829 713131238 4186155 3838071 394995 329705 574093494 626275356 578674644 630443132 X 0 0 0 0 83642185 82688106 83642185 82688106 662316829 713131238 X 4012229 -4609866 -356442 X X 0 1 X 1 0 0 1 X 8165697 8165697 17596270 8868262 8728008 1845830 797203 1048627 13803615 11891508 1912107 181363 181363 20035802 AVAILABLE FOR SALE: MORTGAGE BACKED SECURITIES 112793558 F AVAILABLE FOR SALE: COLLATERALIZED MORTGAGE OBLIGATIONS 129535278 F AVAILABLE FOR SALE: MUNICIPAL BONDS 52012964 F 294341800 SHARE ACCOUNTS 227620309 SHARE DRAFT ACCOUNTS 147246146 MONEY MARKET ACCOUNTS 140696233 INDIVIDUAL RETIREMENT ACCOUNTS 31624516 SHARE & IRA CERTIFICATES 79088152 626275356 X 26539012 0 26539012 0 26539012 22526783 0 22526783 0 22526783 PART IV, LINE 2B: ESCROW ACCOUNTS ARE MAINTAINED BY THE CREDIT UNION FOR THE BENEFIT OF PAYING TAXES AND/OR INSURANCE ON BEHALF OF MORTGAGE HOLDERS. PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 OKLAHOMA CENTRAL FOUNDATION INC 11335 E 41ST STREET TULSA OK 74146 452804883 501(C)(3) 25000 0 FOUNDATION SUPPORT 1 PART I, LINE 2: DONATIONS ARE PROVIDED TO THE OKLAHOMA CENTRAL FOUNDATION, INC. THIS IS A BUDGETED ITEM APPROVED BY THE BOARD OF DIRECTORS. THE PRESIDENT OF OKLAHOMA CENTRAL CREDIT UNION IS ON THE BOARD OF THE OKLAHOMA CENTRAL FOUNDATION, INC. AND HELPS TO GUIDE AND MONITOR THE USE OF THE FUNDS. X X X X 0 1 0 EUGENIA WILSON CEO 357918 0 70304 0 576188 0 36477 0 21941 0 1062828 0 575000 0 SHELLI SCHROEDER EVP CHIEF OPERATING OFFICER 169365 0 29826 0 180 0 4954 0 25154 0 229479 0 0 0 BRAD SCHEIDT EVP CHIEF FINANCE & STRATEGY OFFICER 126452 0 29842 0 271 0 4448 0 15332 0 176345 0 0 0 WILLIAM JOLIN CHIEF FINANCIAL OFFICER 137188 0 20923 0 414 0 6022 0 1902 0 166449 0 0 0 JEREMY LIPPIATT VP OF INTEGRATED TECHNOLOGY SERVICES 120022 0 17353 0 162 0 4734 0 8657 0 150928 0 0 0 PART I, LINE 4B GINA WILSON, CEO, PARTICIPATED IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. IN 2021 THE CREDIT UNION MADE A $26,004 CONTRIBUTION AND THERE WAS A DISTRIBUTION OF $575,000. THE CREDIT UNION HAS REPORTED THE CONTRIBUTIONS TO THE 457(F) PLAN ON PRIOR YEAR FORM 990S IN PART VII AND SCHEDULE J, PART II, COLUMN (C) AS DEFERRED COMPENSATION. THE $575,000 PAYOUT IS REPORTED ON THE 2021 FORM 990, PART VII AND SCHEDULE J, PART II, COLUMN (B) AS OTHER REPORTABLE COMPENSATION AND ALSO REPORTED ON SCHEDULE J, PART II, COLUMN (F) AS COMPENSATION REPORTED AS DEFERRED ON PRIOR FORM 990. FORM 990, PART VI, SECTION A, LINE 6 OKLAHOMA CENTRAL CREDIT UNION HAS MEMBERS AS SPECIFIED BY ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A AT THE ANNUAL MEETING, EACH DIRECTOR OF THE BOARD OF DIRECTORS IS ELECTED TO A THREE-YEAR TERM BY THE MEMBERS OF OKLAHOMA CENTRAL CREDIT UNION. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS FORM 990 AND DISCUSSES IT WITH THE CEO. A DRAFT OF FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 ANNUALLY, ALL EMPLOYEES, BOD AND VOLUNTEERS SIGN A CONFLICT OF INTEREST POLICY; INTERNAL AUDITS ARE PERFORMED ON EMPLOYEE ACCOUNTS AND THE HR AREA; EMPLOYEE ACCOUNTS ARE REVIEWED MONTHLY VIA HR AND THE CEO; ANNUALLY EMPLOYEES MUST DISCLOSE ACCOUNTS THAT THEY ARE PRIMARY OR JOINT ON AND ANY ACCOUNTS OF IMMEDIATE FAMILY MEMBERS; AN OFFICIAL FAMILY REPORT IS PRESENTED TO THE BOD MONTHLY ON LOAN STATUS. FORM 990, PART VI, SECTION B, LINE 15 A THIRD PARTY COMPENSATION CONSULTANT SERVICE IS USED. SOFTWARE IS PROVIDED TO ADMINISTER AND MAINTAIN COMPENSATION LEVELS OF ALL STAFF. COMPENSATION IS BASED ON JOB EVALUATIONS AND GRADE LEVELS. GRADE LEVELS DICTATE WHETHER RANGE IS AT THE NATIONAL, REGIONAL OR LOCAL LEVELS. OVERALL GRADE LEVEL SYSTEM TESTING IS DONE PERIODICALLY AND FOR SPECIFIC OCCURRENCES WITH AN OUTSIDE CONSULTANT WHEN NEW POSITIONS ARE ADDED OR AT THE REQUEST OF THE CREDIT UNION. A COMPENSATION SALARY SURVEY COMPILED BY A NATIONAL ASSOCIATION IS PROVIDED TO THE BOARD OF DIRECTORS (BOD). THE BOD USES SURVEY AND GRADE LEVEL INFORMATION TO EVALUATE CEO AS WELL AS OTHER OFFICERS AND KEY EMPLOYEES . THE BOD MEETS INDEPENDENTLY OF REGULAR MEETINGS FOR COMPENSATION DISCUSSIONS ANNUALLY OF THE CEO. THE BOD KEEPS CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION. FORM 990, PART VI, SECTION C, LINE 19 STATEMENT OF FINANCIAL CONDITION IS POSTED MONTHLY IN ALL BRANCH LOCATIONS AND KEY STATISTICS ARE POSTED ON OUR WEBSITE, WWW.OCCU.ORG. ALL INFORMATION CAN ALSO BE VIEWED ON OUR QUARTERLY CALL REPORT THROUGH THE NCUA.GOV WEBSITE. AUDITED FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. ANNUAL REPORTS ARE GIVEN TO MEMBERSHIP UPON REQUEST. ANY PUBLIC REQUESTED DOCUMENTS ARE MADE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART XI, LINE 9: RECLASSIFICATION ADJ FOR NET INVESTMENT GAINS INCLUDED IN NET INCOME -356,442. FORM 990, PART XII, LINE 2C THE OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. FORM 990, PART I, LINE 6 OKLAHOMA CENTRAL CREDIT UNION HAS 7 DIRECTORS AND 2 SUPERVISORY COMMITTEE MEMBERS, ALL OF WHOM ARE VOLUNTEERS. OKLAHOMA CENTRAL FOUNDATION INC 11335 E 41ST STREET TULSA OK 74146 452804883 FOUNDATION OK 501(C)(3) LINE 7 N/A 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0