2018-11-15T11:46:11-06:00 2017-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2017-01-01 730731221 OKLAHOMA CENTRAL CREDIT UNION OKLA 9186646000 4956 S PEORIA AVE TULSA OK 74105 BRAD A SCHEIDT EVP 9186646000 2018-11-14 1 GERALD B KISSELL P00092658 6123324300 108.171.131.186 2018-11-14 12:33:34 CS P BAAA55F19712D57DA335EB0D2886131656817A04 C0F43978DBA0C0105C9EC865D2B1B55C6AA9D490 2017 2019-02-21 02:37:17Z GINA WILSON 4956 S PEORIA AVE TULSA OK 74105 102742205 0 X WWW.OCCU.ORG X 1941 OK 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. 7 7 193 9 204359 -11627 0 0 20330656 24158651 4457739 2880001 42467 43807 24830862 27082459 18700 16761 1859388 2227438 8159165 8041381 0 0 0 12166578 13939935 22203831 24225515 2627031 2856944 531190187 539487608 462668598 467532624 68521589 71954984 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 2017 BY $5.3M OR 1.16% OVER THE PREVIOUS YEAR. SOME OF THE SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS AT $1.1M (0.78%); CHECKING AT $3.0M (3.4%); REGULAR CERTIFICATES AT $4.5M (7.7%); MMAS AT -$1.0M (-0.92%); IRA SAVINGS AT -$3.3M (-8.6%); IRA CD AT $960K (5.8%). THIS REPRESENTS A TOTAL OF 68,671 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 44,876 WITH AN AVERAGE SAVINGS OF $10,345 PER MEMBER. A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 1,576 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 61 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 2017, THE CREDIT UNION APPROVED 9,567 LOAN REQUESTS FOR OVER $178.3M. A TOTAL OF 216 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $15.9M. IN THE MEMBER BUSINESS ARENA, WE APPROVED 19 COMMERCIAL LOAN REQUESTS TOTALING $4.1M FOR MEMBERS. THE CREDIT UNION IS IN ITS TENTH YEAR OF COMMERCIAL LENDING - A DIRECT RESPONSE TO OUR SMALL BUSINESS OWNERS' REQUESTS FOR FINANCIAL SERVICES. PRODUCT OFFERINGS ALSO INCLUDED SHORTER 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 2017, OKLAHOMA CENTRAL SPONSORED OR WAS INVOLVED IN THE FOLLOWING: (1) CREDIT UNION YOUTH MONTH (2) THE ANNUAL CHARITY CONCERT AND RAISED OVER $12,000 FOR THE OKLAHOMA CENTRAL FOUNDATION. THIS MONEY WAS USED TO FUND THE SCHOLARSHIP PROGRAM AND FINANCIAL LITERACY PROGRAMS. (3) THE CU RIDE. EMPLOYEES, MEMBERS, FRIENDS, AND FAMILY OF CREDIT UNIONS FROM AROUND THE AREA JOINED TOGETHER TO RIDE TO AND DELIVER STUFFED DOGS TO THE CHILDREN'S HOSPITAL AT ST. FRANCIS. (4) 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 ST. PIUS X CATHOLIC SCHOOL. OKLAHOMA CENTRAL MADE FINANCIAL DONATIONS TO ORGANIZATIONS SUCH AS DVIS, FAMILY & CHILDREN'S SERVICES, JOHN 3:16 MISSION, AND ST. FRANCIS CHILDREN'S HOSPITAL JUST TO NAME A FEW. 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 10759 0 1 193 1 1 1 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 1 0 OK X BRAD SCHEIDT 9186646000 4956 S PEORIA AVE TULSA OK 74105 PENNY CHEFFEY CHAIR 1.00 X X 0 0 0 GORDON SPROUSE VICE CHAIR 1.00 X X 0 0 0 ANNE DORMAN SECRETARY/TREASURER 1.00 X X 0 0 0 JERRY HENDERSON DIRECTOR 1.00 X 0 0 0 TOM HILLE DIRECTOR 1.00 X 0 0 0 SUSAN PHELPS DIRECTOR 1.00 X 0 0 0 ANDY MURPHREE DIRECTOR 1.00 X 0 0 0 GINA WILSON CEO 40.00 X 345060 0 412217 DARRIN BELL CFO (UNTIL APRIL 2017) 40.00 X 52542 0 9690 BRAD SCHEIDT CSO/ACTING CFO APRIL TO DEC 40.00 X 152250 0 13030 SHELLI SCHROEDER COO 40.00 X 140109 0 26166 LEILANI HARPOLE CAO 40.00 X 135463 0 19786 BILL JOLIN VP FINANCE 40.00 X 122252 0 3578 CYNTHIA CAMPBELL VP OF INNOVATION AND STRATEGY 40.00 X 106969 0 12338 AARON BEDINGFIELD ASST VP SYSTEMS INTEGRATION 40.00 X 105915 0 20589 1160560 0 517394 8 0 1 0 THOMPSON CONNSTRUCTION 8141 E 74TH PL TULSA OK 74133 CONSTRUCTION 1818577 XP SYSTEMS 75 REMITTANCE DR SUITE 6963 CHICAGO IL 60675 COMPUTER 960238 TRANSFUND PO BOX 2300 TULSA OK 74192 ATM PROCESSING 636430 SAGENET 10205 E 61ST ST TULSA OK 74133 COMPUTER 523830 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 STATEMENTS/HOME BANKING 466346 20 INTEREST INCOME ON LOANS TO MEMBE 522100 17729500 17729500 SERVICE CHARGES AND OTHER FEES 522100 3124778 2920419 204359 INTERCHANGE INCOME 522100 2318919 2318919 OTHER INCOME 522100 985454 985454 24158651 2595731 2595731 43807 0 43807 43807 43807 75944016 75659746 284270 284270 284270 27082459 23954292 204359 2923808 16761 2227438 994440 5578561 145439 866065 456876 137961 299231 675286 3218873 1830258 1256434 127118 3221 1476709 132666 PROVISION FOR LOAN LOSS 4080783 LOAN SERVICING COSTS 485186 STATE INCOME TAX 216209 24225515 27004829 31308237 1655744 2092216 328428642 375818233 1422934 1263418 36056914 14622265 18640513 21434649 141799534 94819824 12237991 12751031 531190187 539487608 3766167 3301780 389198 373032 458513233 463857812 462668598 467532624 X 0 0 0 0 68521589 71954984 68521589 71954984 531190187 539487608 X 2856944 860722 -284270 X 0 1 X 1 0 0 389198 389198 1 X 8165697 8165697 15157142 6185050 8972092 1820214 326463 1493751 10909895 8110752 2799143 3966 3966 21434649 AVAILABLE FOR SALE: MORTGAGE BACKED SECURITIES 46328523 F AVAILABLE FOR SALE: COLLATERALIZED MORTGAGE OBLIGATIONS 44971301 F AVAILABLE FOR SALE: MUNICIPAL BONDS 3520000 F 94819824 SHARE ACCOUNTS 142257828 SHARE DRAFT ACCOUNTS 93337346 MONEY MARKET ACCOUNTS 112953364 INDIVIDUAL RETIREMENT ACCOUNTS 34749447 SHARE & IRA CERTIFICATES 80559827 463857812 X 27082458 0 27082458 0 27082458 24225515 0 24225515 0 24225515 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 2016, 2015, AND 2014 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) 16761 FOUNDATION SUPPORT 1 X X X X 0 1 0 GINA WILSON CEO 297272 0 47053 0 735 0 402457 0 15324 0 762841 0 0 0 BRAD SCHEIDT CSO/ACTING CFO APRIL TO DEC 132719 0 19261 0 270 0 6114 0 10443 0 168807 0 0 0 SHELLI SCHROEDER COO 123400 0 16547 0 162 0 4308 0 24144 0 168561 0 0 0 LEILANI HARPOLE CAO 117069 0 17980 0 414 0 5582 0 16112 0 157157 0 0 0 PART I, LINE 4B GINA WILSON, CEO, PARTICIPATED IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2017. 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 15 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 -284,270. 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 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