2020-11-16T17:24:34-06:00 2019-12-31 420714325 RSM US LLP 801 NICOLLET MALL WEST TOWER STE 1100 MINNEAPOLIS MN 554022526 990 2019-01-01 730731221 OKLAHOMA CENTRAL CREDIT UNION OKLA 9186646000 4956 S PEORIA AVE TULSA OK 74105 BRAD A SCHEIDT CHIEF OF FINANCE & STRATEGY 9186646000 2020-11-16 1 KACIE MCEWEN P01599614 6123324300 2020-11-16 68.47.31.197 2020-11-16 14:35:51 CS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 03529DF6567CFB0D20C3C8C4F0F8DA9C5BDC3671 2019 2022-01-07 14:23:13Z GINA WILSON 4956 S PEORIA AVE TULSA OK 74105 68113090 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 7 187 9 215760 -68929 0 0 24053736 24598373 3187687 4764055 45957 48743 27287380 29411171 31191 23834 2874744 3785726 8910826 9185827 0 0 0 14653524 14073476 26470285 27068863 817095 2342308 554749561 580520428 482598343 503673988 72151218 76846440 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 2019 BY $20.7M OR 4.33% OVER THE PREVIOUS YEAR. SOME OF THE SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS AT $8.9M (6.1%); REGULAR CERTIFICATES AT $3.4M (4.8%); CHECKING AT $4.4M (4.5%), AND MONEY MARKET AT $5.6M (4.9%). IN TOTAL, THIS REPRESENTS 70,115 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 45,369 WITH AN AVERAGE SAVINGS OF $10,993 PER MEMBER. A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 531 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 16 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 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 2019, THE CREDIT UNION APPROVED 5,358 LOAN REQUESTS FOR OVER $109.7M. A TOTAL OF 250 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $20.8M. THE CREDIT UNION IS IN ITS TWELFTH 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 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 THESE ITEMS. COMMUNITY INVOLVEMENT: OKLAHOMA CENTRAL CREDIT UNION CONTINUES TO SUPPORT AND BE ACTIVE IN THE COMMUNITIES WE SERVE. IN 2019, 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 OVER $20K TO THE OKLAHOMA CENTRAL FOUNDATION. THIS MONEY WAS USED TO FUND FINANCIAL LITERACY AND LOCAL TEACHER SUPPORT/RECOGNITION.3)THE CREDIT UNION ONCE AGAIN ALLOWED 40 PAID HOURS OF COMMUNITY SERVICE TO GIVE BACK TO THE COMMUNITY. BY YEAR END 2019, EMPLOYEES CONTRIBUTED OVER 1,000 HOURS TO VARIOUS ORGANIZATIONS.4)OKLAHOMA CENTRAL MADE FINANCIAL DONATIONS THROUGH A REFER-A-FRIEND PROGRAM TO ORGANIZATIONS SUCH AS DVIS, FAMILY & CHILDREN'S SERVICES AND ST. JUDE'S HOSPITAL. 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 1 1 1 0 0 1 7766 0 1 187 1 1 1 0 0 0 0 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 OK X BRAD SCHEIDT 9186646000 4956 S PEORIA AVE TULSA OK 74105 GINA WILSON CEO 40.00 1.00 X 560635 0 473508 BRAD SCHEIDT CHIEF FINANCE & STRATEGY OFFICER 40.00 X 175497 0 16915 SHELLI SCHROEDER COO 40.00 X 157152 0 28809 BILL JOLIN VP FINANCE 40.00 X 140892 0 5010 PEPPER WETHERLY VP RETAIL SALES 40.00 X 112131 0 7381 GORDON SPROUSE CHAIR 1.00 X X 0 0 0 ANNE DORMAN VICE CHAIR 1.00 1.00 X X 0 0 0 SUSAN PHELPS SECRETARY & TREASURER 1.00 X X 0 0 0 PENNY CHEFFEY DIRECTOR 1.00 1.00 X 0 0 0 JERRY HENDERSON DIRECTOR 1.00 X 0 0 0 TOM HILLE DIRECTOR 1.00 X 0 0 0 ANDY MURPHREE DIRECTOR 1.00 X 0 0 0 1146307 0 531623 5 0 1 0 XP SYSTEMS 75 REMITTANCE DR SUITE 6963 CHICAGO IL 60675 IT SERVICES 1024048 NCR PO BOX 740641 LOS ANGELES CA 90074 STATEMENTS/HOME BANKING 922109 TRANSFUND PO BOX 2300 TULSA OK 74192 ATM PROCESSING 510905 SAGENET 10205 E 61ST ST TULSA OK 74133 IT SERVICES 379523 PRAETORIA GROUP LLC 115 W 3RD STREET SUITE 401 TULSA OK 74103 SECURITY 345439 18 INTEREST INCOME ON LOANS TO MEMBE 522100 17808432 17808432 SERVICE CHARGES AND OTHER FEES 522100 2953372 2737612 215760 INTERCHANGE INCOME 522100 2528711 2528711 OTHER INCOME 522100 1307858 1307858 24598373 4664262 4664262 48743 0 48743 48743 48743 38801712 38701919 99793 99793 99793 29411171 24382613 215760 4812798 23834 3785726 1226555 6353316 123843 940180 541933 72836 201370 363025 760497 2598467 2068444 2786106 85126 6 1703891 166154 PROVISION FOR LOAN LOSS 2553407 LOAN SERVICING COSTS 658890 STATE INCOME TAX 55257 27068863 35404693 29236006 965664 752235 357200698 331063633 632371 554737 38199637 18004680 20797589 20194957 123497917 182790340 16250629 15928520 554749561 580520428 4197253 4556101 324366 359229 478076724 498758658 482598343 503673988 X 0 0 0 0 72151218 76846440 72151218 76846440 554749561 580520428 X 2342308 2452707 -99793 X 0 1 X 1 0 0 1 X 8165696 8165696 15465419 7438153 8027266 1838029 559617 1278412 12415876 10006910 2408966 314617 314617 20194957 AVAILABLE FOR SALE: MORTGAGE BACKED SECURITIES 67265557 F AVAILABLE FOR SALE: COLLATERALIZED MORTGAGE OBLIGATIONS 109008102 F AVAILABLE FOR SALE: MUNICIPAL BONDS 6516681 F 182790340 SHARE ACCOUNTS 154841909 SHARE DRAFT ACCOUNTS 102536847 MONEY MARKET ACCOUNTS 118722732 INDIVIDUAL RETIREMENT ACCOUNTS 26561354 SHARE & IRA CERTIFICATES 96095816 498758658 X 29411171 0 29411171 0 29411171 27068863 0 27068863 0 27068863 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: MANAGEMENT HAS ASSESSED THE CREDIT UNION'S ACTIVITIES AND ANY POTENTIAL FEDERAL INCOME TAX LIABILITY AND DETERMINED THAT THE CREDIT UNION HAS NO UNCERTAIN TAX POSITIONS THAT QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ADDITIONALLY, NO INTEREST AND PENALTIES HAVE BEEN RECORDED IN THE ACCOMPANYING FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. CURRENTLY, THE 2018, 2017, AND 2016 FEDERAL INCOME TAX RETURNS ARE OPEN FOR EXAMINATION BY THE IRS. THE FILING YEARS OPEN FOR EXAMINATION BY THE STATE, IF APPLICABLE, MAY BE DIFFERENT THAN THE YEARS OPEN FOR EXAMINATION BY THE IRS. 1 OKLAHOMA CENTRAL FOUNDATION INC 11335 E 41ST STREET TULSA OK 74146 452804883 501(C)(3) 23834 FOUNDATION SUPPORT 1 0 PART I, LINE 2: DONATIONS ARE PROVIDED TO THE OKLAHOMA CENTRAL FOUNDATION, INC. THIS IS A BUDGETED ITEM APPROVED BY THE BOARD OF DIRECTORS. X X X X 0 1 0 GINA WILSON CEO 509205 0 50656 0 774 0 451884 0 21624 0 1034143 0 0 0 BRAD SCHEIDT CHIEF FINANCE & STRATEGY OFFICER 155425 0 19802 0 270 0 6090 0 10825 0 192412 0 0 0 SHELLI SCHROEDER COO 140463 0 16527 0 162 0 4490 0 24319 0 185961 0 0 0 PART I, LINE 4B GINA WILSON, CEO, PARTICIPATED IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THERE WERE NO 2019 DISTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 6 THE CREDIT UNION'S MEMBERS HAVE RIGHTS TO ELECT THE MEMBERS OF THE GOVERNING BODY. THE CREDIT UNION'S MEMBERS ALSO RECEIVE A SHARE OF THE ORGANIZATION'S PROFITS IN THE FORM OF CASH DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO ELECT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHETHER PERIODICALLY, OR AS VACANCIES ARISE, OR OTHERWISE. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B THE CFO REVIEWS FORM 990 AND DISCUSSES IT WITH THE CEO. A REPORT IS THEN PRESENTED TO THE BOARD OF DIRECTORS BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, ALL EMPLOYEES, BOD AND VOLUNTEERS SIGN 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 15A A THIRD PARTY COMPENSATION CONSULTANT SERVICES 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 NATIONAL ASSOCIATION IS PROVIDED TO THE BOD. THE BOD USES SURVEY AND GRADE LEVEL INFORMATION TO EVALUATE CEO. BOD MEETS INDEPENDENTLY OF REGULAR MEETING FOR COMPENSATION DISCUSSION ANNUALLY OF CEO. 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 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: RECLASS FOR GAINS ON INVESTEMENTS INCLUDED IN NET INCOME -99,793. FORM 990, PART I, LINE 6 OKLAHOMA CENTRAL CREDIT UNION HAS 7 DIRECTORS AND 2 SUPERVISORY COMMITTEE MEMBERS, ALL OF WHOM ARE VOLUNTEERS. REAL ESTATE FINANCIAL SERVICES LLC 4956 S PEORIA AVE TULSA OK 74105 446013230 INACTIVE REAL ESTATE COMPANY OK 0 0 OKLAHOMA CENTRAL CREDIT UNION 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