2015-11-09T10:33:26-06:00 2014-12-31 420714325 RSM US LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2014-01-01 730731221 OKLAHOMA CENTRAL CREDIT UNION OKLA 9186646000 4956 S PEORIA AVE TULSA OK 74105 DARRIN BELL CFO 9186646000 2015-10-30 1 GERALD B KISSELL P00092658 6123324300 2014 2016-04-25 22:37:26Z GINA WILSON 4956 S PEORIA AVE TULSA OK 74105 95106344 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 PLEDGES TO BE THE BEST CONSUMER FINANCIAL ORGANIZATION IN THE STATE OF OKLAHOMA BY PROVIDING SUPERIOR PRODUCTS AND SERVICES TO THE MEMBER/OWNERS OF OCCU; BY PROVIDING SUPERIOR GROUP BENEFITS AND SERVICES TO SELECT EMPLOYEE GROUPS OF OCCU; AND BY PROVIDING A WORK ENVIRONMENT THAT ALLOWS EVERY EMPLOYEE AN OPPORTUNITY TO ACHIEVE THEIR FULL POTENTIAL THROUGH MUTUAL COMMITMENT, CONTRIBUTION, AND DEDICATION TO THEIR CAREER AT OCCU. 7 7 170 12 146436 -20533 0 0 14555187 14268632 3783987 4688202 1908957 1992173 20248131 20949007 0 2800 1971523 1691911 7247416 7306084 0 0 0 9493041 9407303 18711980 18408098 1536151 2540909 476176474 493391510 417284695 428892397 58891779 64499113 X OKLAHOMA CENTRAL CREDIT UNION IS A 501(C)(14), STATE CHARTERED CREDIT UNION. OKLAHOMA CENTRAL CREDIT UNION (OCCU) PLEDGES TO BE THE BEST CONSUMER FINANCIAL ORGANIZATION IN THE STATE OF OKLAHOMA BY PROVIDING SUPERIOR PRODUCTS AND SERVICES TO THE MEMBER/OWNERS OF OCCU; BY PROVIDING SUPERIOR GROUP BENEFITS AND SERVICES TO SELECT EMPLOYEE GROUPS OF OCCU; AND BY PROVIDING A WORK ENVIRONMENT THAT ALLOWS EVERY EMPLOYEE AN OPPORTUNITY TO ACHIEVE THEIR FULL POTENTIAL THROUGH MUTUAL COMMITMENT, CONTRIBUTION, AND DEDICATION TO THEIR CAREER AT OCCU. 0 0 PROMOTE SAVINGS AND PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS - OVERALL SAVINGS BALANCES GREW IN 2014 BY $11M OR 2.6% OVER THE PREVIOUS YEAR. SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS AT $6.6M (5.3%); CHECKING AT $10.1M (14.5%); RETIREMENT SAVINGS AT $4.4M (-9.3%); MMAS AT $875K (0.8%); AND CERTIFICATES OF DEPOSIT AT $2.2M (-3.6%). THIS REPRESENTS A TOTAL OF 57,719 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 34,631 OR 1.7 SAVINGS SERVICES PER MEMBER WITH AN AVERAGE SAVINGS OF $12,314 PER MEMBER. A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 1,434 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 84 NEW CHECKING ACCOUNTS. THE CREDIT UNION CONTINUED INVOLVEMENT IN THE SHARED BRANCHING NETWORK AND OFFERS 5 CONVENIENT LOCATIONS TO OUR MEMBERSHIP. WE CONTINUE TO PARTNER WITH LOCAL HIGH SCHOOLS TO OFFER CUSTOMIZED CHECK CARDS WITH A PORTION OF THE INTERCHANGE FEE BEING RETURNED BACK TO THE SCHOOL. A TOTAL OF $9,612 WAS GIVEN BACK TO SIX LOCAL SCHOOLS DURING THE YEAR. OUR LUNCH MONEY 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 SESSIONS. 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 FINANCEWORKS, 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 2014, THE CREDIT UNION APPROVED 5,865 LOAN REQUESTS FOR OVER $102.4M. A TOTAL OF 240 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $22.6M. WE CONTINUED TO OFFER FHA REAL ESTATE LOANS AND MADE A TOTAL OF 10 FOR $1.2M. IN THE MEMBER BUSINESS ARENA, WE APPROVED 40 COMMERCIAL LOAN REQUESTS TOTALING $4.6M FOR MEMBERS. THE CREDIT UNION IS IN ITS SEVENTH 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 IN ORDER 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 APRIL 2014, OKLAHOMA CENTRAL HELD A PRESENTATION ON SAVINGS IN CONJUNCTION WITH OUR MONEY MAMMAL PROGRAM FOR BOY SCOUTS DURING YOUTH WEEK AT OUR LAFORTUNE BRANCH. IN SEPTEMBER 2014, OKLAHOMA CENTRAL SPONSORED RADIO PERSONALITY CLARK HOWARD AT THE TULSA CITY COUNTY LIBRARY TO DISCUSS PERSONAL FINANCES WITH PUBLIC ATTENDEES. IN OCTOBER 2014, OKLAHOMA CENTRAL ONCE AGAIN PARTICIPATED IN TULSA'S BOO HA HA PARADE. OCCU SPONSORED A FLOAT AND BOOTH TO ANSWER QUESTIONS REGARDING OUR PRODUCTS AND SERVICES AND HOW WE CAN BE OF SERVICE TO OUR COMMUNITY. OKLAHOMA CENTRAL PROVIDED A SERIES OF FREE WEBINARS HELD THROUGHOUT THE YEAR COVERING A VARIETY OF FINANCIAL TOPICS. IN DECEMBER 2014, OKLAHOMA CENTRAL STAFF COLLECTED TOILETRIES, CLOTHING, ETC. FOR LAURA DESTER CHILDREN'S CENTER IN TULSA TO HELP WHEN CHILDREN ARE BROUGHT INTO THE CENTER AFTER BEING REMOVED FROM THEIR HOMES FOR VARIOUS REASONS. DURING 2014, 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 BIXBY PUBLIC SCHOOL DISTRICT. OKLAHOMA CENTRAL ALSO MADE FINANCIAL DONATIONS TO A NUMBER OF ORGANIZATIONS SUCH AS DVIS, FAMILY & CHILDREN'S SERVICES, ALS ASSOCIATION, JOHN 3:16 MISSION, ARTHRITIS FOUNDATION, TULSA CITY COUNTY LIBRARY, UNITED WAY, TYPROS 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 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 10776 0 1 170 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 0 1 1 1 0 OK X DARRIN D BELL 9186646000 4956 S PEORIA AVE TULSA OK 74105 PENNY COLANTONIO CHAIR 1.00 X X 0 0 0 JERRY HENDERSON VICE CHAIR 1.00 X X 0 0 0 BROOKE HAMILTON SECRETARY/TREASURER 1.00 X X 0 0 0 TOM HILLE DIRECTOR 1.00 X 0 0 0 GORDON SPROUSE DIRECTOR 1.00 X 0 0 0 ANNE DORMAN DIRECTOR 1.00 X 0 0 0 ANDY MURPHREE DIRECTOR 1.00 X 0 0 0 GINA WILSON CEO 40.00 X 286472 0 399605 BRAD SCHEIDT CFO 40.00 X 117260 0 9976 SHELLI SCHROEDER COO 40.00 X 104851 0 26671 STEVE MCNABB CBDO 40.00 X 116534 0 17708 LEILANI HARPOLE CAO 40.00 X 114344 0 23099 739461 0 477059 5 0 1 0 FISERV (XP SYSTEMS) 75 REMITTANCE DR SUITE 6963 CHICAGO IL 60675 COMPUTER 959472 TRANSFUND PO BOX 2300 TULSA OK 74192 ATM PROCESSING 627920 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 HOME BANKING 521217 ACROBATANT 1336 E 15TH STREET TULSA OK 74120 MARKETING 415971 SAGENET 10205 E 61ST ST TULSA OK 74133 COMPUTER 349044 13 INTEREST INCOME ON LOANS TO MEMBE 522100 10928910 10928910 SERVICE CHARGES AND OTHER FEES 522100 3339722 3193286 146436 14268632 4189134 4189134 74074738 581667 73646307 511030 428431 70637 499068 499068 OTHER NON-INTEREST INCOME 522100 1992173 1992173 1992173 20949007 16114369 146436 4688202 2800 1691911 819378 5143707 136858 776946 429195 75565 145524 469819 632662 2958210 1486860 1144597 114046 1 1312226 117128 PROVISION FOR LOAN LOSS 640740 LOAN SERVICING COSTS 193011 STATE INCOME TAX 116914 18408098 22561879 26177481 1466451 1485725 206020204 217486607 28660397 10553884 18855258 18106513 215850679 218519168 11422003 11616016 476176474 493391510 1792466 2430575 330042 351312 415162187 426110510 417284695 428892397 X 0 0 0 0 58891779 64499113 58891779 64499113 476176474 493391510 2540909 3066425 0 X 0 1 X 1 0 0 1 X 7678630 7678630 11660804 4685048 6975756 1542395 120128 1422267 7665316 5748708 1916608 113252 113252 18106513 AVAILABLE FOR SALE INVESTMENTS 217075732 F OTHER INVESTMENTS 1443436 F 218519168 MEMBERS' SHARES 426110510 426110510 X 20949007 0 20949007 0 20949007 18408098 0 18408098 0 18408098 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 EVALUATED ITS TAX POSITIONS AND DETERMINED NO UNCERTAIN TAX POSITIONS EXIST AS OF DECEMBER 31, 2014 AND 2013. X X X X 0 1 0 GINA WILSON CEO 257693 0 28365 0 414 0 377325 0 26054 0 689851 0 0 0 PART I, LINE 4B GINA WILSON, CEO, PARTICIPATED IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THERE WERE NO DISTRIBUTIONS DURING 2014. 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, 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 11 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 THE STATEMENT OF FINANCIAL CONDITION IS POSTED MONTHLY IN ALL BRANCH LOCATIONS AND KEY STATISTICS ARE POSTED ON THE WEBSITE. ALL INFORMATION CAN BE VIEWED ON THE CALL REPORT QUARTERLY THROUGH THE NCUA.GOV WEBSITE. AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. ANNUAL REPORTS ARE PROVIDED TO MEMBERSHIP AT THE ANNUAL MEETING. ANY PUBLIC REQUESTED DOCUMENTS ARE MADE AVAILABLE FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART I, LINE 6 A TOTAL OF TWELVE INDIVIDUALS VOLUNTEERED IN CALENDAR YEAR 2014. ELEVEN INDIVIDUALS SERVED IN A DIRECTOR AND/OR SUPERVISORY COMMITTEE CAPACITY. OCCU UTILIZES SEVEN DIRECTORS AND THREE SUPERVISORY COMMITTEE POSITIONS. IN ADDITION, THERE WAS 1 SPECIAL GUEST IN ATTENDANCE OF THE BOD MEETINGS. REAL ESTATE FINANCIAL SERVICES LLC 8080 S YALE AVE TULSA OK 74136 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 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0