2012-08-14T09:34:02-05:00 2011-12-31 420714325 MCGLADREY LLP 801 NICOLLET MALL SUITE 1100 MINNEAPOLIS MN 55402 990 2011-01-01 730731221 OKLAHOMA CENTRAL CREDIT UNION OKLA 9186646000 4956 S PEORIA AVE TULSA OK 74105 BRAD SCHEIDT 9186646000 2012-08-06 1 GERALD B KISSELL P00092658 6123324300 2011 2016-02-24 21:20:13Z GINA WILSON 4956 S PEORIA AVE TULSA OK 74105 99794066 0 X WWW.OCCU.ORG X 1941 OK OKLAHOMA CENTRAL CREDIT UNION IS A 501(C)(14) STATE CHARTERED CREDIT UNION. 7 7 163 10 412871 -19774 0 0 14548047 13940336 7961391 8403508 2096386 1930301 24605824 24274145 0 0 4618389 3670482 6700966 7002957 0 0 0 9041076 9288512 20360431 19961951 4245393 4312194 407823611 445999699 353064337 386398359 54759274 59601340 X 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. 1 0 PROMOTE SAVINGS AND PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS - OVERALL SAVINGS BALANCES GREW IN 2011 BY $33.5M OR 9.6% OVER PREVIOUS YEAR. SAVINGS CATEGORIES CHANGES DURING THE YEAR WERE: SAVINGS AT $7.2M (7.9%); CHECKING AT $5.9M (11.5%); RETIREMENT SAVINGS AT $0.2M (0.5%); MMAS AT $12.4M (16.3%); AND CERTIFICATES OF DEPOSIT AT $7.8M (8.5%). THIS REPRESENTS A TOTAL OF 55,983 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 32,811 OR 1.7 SAVINGS SERVICES PER MEMBER WITH AN AVERAGE SAVINGS OF $11,676 PER MEMBER (AN INCREASE FROM PRIOR YEAR OF $1,024 PER MEMBER). A NO MONTHLY SERVICE CHARGE CONSUMER CHECKING ACCOUNT CONTINUED TO BE POPULAR AND GENERATED 1,415 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 127 NEW CHECKING ACCOUNTS. THE CREDIT UNION EXPANDED INVOLVEMENT IN THE SHARED BRANCHING NETWORK TO OFFER ADDITIONAL 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 $15,956 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 A POPULAR SESSIONS. 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 2011, THE CREDIT UNION APPROVED 4,320 LOAN REQUESTS FOR OVER $84.1M. A TOTAL OF 345 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $31.0M. WE CONTINUED TO OFFER FHA REAL ESTATE LOANS AND MADE A TOTAL OF 11 FOR $1.5M. IN THE MEMBER BUSINESS ARENA, WE APPROVED 17 COMMERCIAL LOAN REQUESTS TOTALLING $5.6M (THE CREDIT UNION IS IN ITS FOURTH YEAR OF COMMERCIAL LENDING - A DIRECT RESPONSE TO OUR SMALL BUSINEES OWNERS REQUESTS FOR FINANCIAL SERVICES). PRODUCT OFFERINGS WHICH INCLUDED SHORTER TERM LOANS AT LOWER RATES. THE CREDIT UNION ALSO BEGAN OFFERING STORM SHELTER LOANS AT A VERY LOW INTEREST RATE (2.99%) IN ORDER TO HELP MEMBERS AFFORD THE COSTLY EXPENSE OF ADDING A FORTIFIED STORM SHELTER TO THEIR RESIDENCE. COMMUNITY INVOLVEMENT: INDIVIDUALLY AND AS A CREDIT UNION, WE SUPPORT OUR COMMUNITY IN VARIOUS VENUES. THE CREDIT UNION AGAIN SPONSORED THE ANNUAL ART OF BARBEQUE FESTIVAL BENEFITING THE ARTS AND HUMANITIES COUNCIL OF TULSA (WHICH TAKES THE "ARTS" INTO THE PUBLIC SCHOOLS), AS WELL AS THE BIXBY ROTARY CLUB BBQ 'N' MUSIC FESTIVAL KID ZONE, WHICH SUPPORTS NUMEROUS INITIATIVES FOR KIDS AND FAMILIES IN NEED. FINANCIAL SPONSORSHIPS INCLUDED TULSA UNIVERSITY, ROCKETS OVER RHEMA IN BROKEN ARROW AND THREE BASKETBALL CAMPS/FINANCIALLY LITERACY WORKSHOPS FOR KIDS THROUGH THE TULSA SHOCK. ADDITIONAL SPONSORSHIPS AND DONATIONS HELPED 20+ ORGANIZATIONS, INCLUDING TULSA DAY CENTER FOR THE HOMELESS, FAMILY & CHILDREN SERVICES, ALZHEIMER'S ASSOCIATION, EMERGENCY INFANT SERVICES, MEALS ON WHEELS; AND WE ANSWERED THE CALL WHEN THE JOHN 3:16 MISSION WAS ALMOST OUT OF FOOD TO PROVIDE MEALS TO THE HOMELESS BY MAKING A SIGNIFICANT CONTRIBUTION AND WORKING WITH A LOCAL GROCER TO OBTAIN THE MOST NEEDED ITEMS AT BULK/DISCOUNT PRICING. THE CREDIT UNION NEARLY DOUBLED ITS FUNDRAISING PROCEEDS OVER LAST YEAR' FOR THE CHILDREN'S MIRACLE NETWORK BY PARTICIPATING IN AN EVENT SPONSORED BY A LOCAL DEPARTMENT STORE, BELK'S CHARITY DAY; AND CHILDREN'S MIRACLE NIGHT WITH THE TULSA SHOCK, WHICH SHOWCASED CHILDREN'S HOSPITAL FOUNDATION, OUR MONEY MAMMALS KIDS CLUB LITERACY PROGRAM, AND EARNED MATCHING FUNDS FROM COOP FINANCIAL SERVICES AS WELL AS CHILDREN'S HOSPITAL AT ST. FRANCIS' FIRST ANNUAL EXCELLENCE IN CAUSE MARKETING AWARD (WHICH WAS INSPIRED BY ALL OF OUR EFFORTS IN 2011). TO KICK OFF THE UNITED WAY CAMPAIGN, THE BRANCHES HOSTED FUNDRAISING EVENTS FROM A TAILGATE-THEMED PARTY TO A CHILI COOK-OFF AND RAFFLES. THE CREDIT UNION ACHIEVED 100% EMPLOYEE PARTICIPATION AND FOR THE THIRD YEAR IN A ROW BROKE OUR DONATION RECORDS. THE PARTNERS IN EDUCATION (PIE) PROGRAM GIVES TIME AND FUNDING TO FOUR LOCAL SCHOOLS (CARNEGIE, MARSHALL, AND SEQUOYAH ELEMENTARY SCHOOLS IN TULSA, AND NORTH INTERMEDIATE HIGH SCHOOL IN BROKEN ARROW) TO HELP PROVIDE SCHOOL SUPPLIES; GIFTS FOR TEACHER APPRECIATION WEEK; FIELD TRIP FEES; AND PROVIDING TEST MONITORS. THIS YEAR ADDITIONAL FUNDING WAS PROVIDED TO HELP LOW-INCOME STUDENTS WITH MUCH NEEDED CLOTHING, WINTER COATS, FOOD, AND OTHER BASIC SUPPLIES. SEVERAL SCHOOL SPORTS PROGRAM SPONSORSHIPS WHICH INCLUDED BOYS AND GIRLS IN MANY CASES INCLUDED: CATOOSA, JENKS, UNION, SAND SPRINGS, OWASSO AND BROKEN ARROW HIGH SCHOOLS. THE CREDIT UNION ALLOWS EACH EMPLOYEE EIGHT HOURS OF COMMUNITY SERVICE EACH YEAR. SOME EMPLOYEES HAVE VOLUNTEERED FOR UNITED WAY AGENCIES, SPECIAL OLYMPICS EVENTS, AND VARIOUS SCHOOL FUNCTIONS AND COMMUNITY EVENTS. OUR 5TH ANNUAL SHRED DAY WAS HELD IN OCTOBER WITH HELPING MEMBERS PROTECT THEMSELVES AGAINST IDENTITY THEFT AND CONSERVING THE ENVIRONMENT BY RECYCLING AS THE TWO PREDOMINANT THEMES, WITH EVER GROWING POPULARITY AND PARTICIPATION EACH YEAR. 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 0 0 0 0 1 12984 0 1 163 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 BRAD A SCHEIDT 9186646000 4956 S PEORIA AVE TULSA OK 74105 TOM HILLE 1.00 X X 0 0 0 PENNY COLANTONIO 1.00 X X 0 0 0 ROBERT WAGONER 1.00 X X 0 0 0 JOE PITTS 1.00 X 0 0 0 JIM MULLINGS 1.00 X 0 0 0 ANDY MURPHREE 1.00 X 0 0 0 JERRY HENDERSON 1.00 X 0 0 0 GINA WILSON 40.00 X 328364 0 39390 CAROLYN TOALSON 40.00 X 183774 0 24202 STEVE MCNABB 40.00 X 118884 0 13577 BRAD SCHEIDT 40.00 X 102512 0 9028 733534 0 86197 4 0 1 0 DC BASS & SONS CONSTRUCTION COMPANY PO BOX 1069 ENID OK 73702 CONSTRUCTION 1625812 TRANSFUND PO BOX 2300 TULSA OK 74192 ATM PROCESSING 898216 XP SYSTEMS 75 REMITTANCE DR SUITE 6963 CHICAGO IL 60675 COMPUTERS 570326 DIGITAL INSIGHT PO BOX 515306 LOS ANGELES CA 90051 STATEMENTS/HOME BANKING 502269 SAGENET DEPT NO 1360 TULSA OK 74182 IT SUPPORT/PHONES 398900 12 INTEREST INCOME ON LOA 522100 11155583 11155583 SERVICE CHARGES AND OT 522100 2784753 2371882 412871 13940336 6901122 6901122 76863062 159245 75360121 159800 1502941 -555 1502386 1502386 OTHER NON-INTEREST INC 522100 1930301 1930301 1930301 24274145 15457766 412871 8403508 3670482 575730 5126836 82241 779056 439094 105621 57120 166969 597124 2601791 1116300 1234908 104803 946075 93475 PROVISION FOR LOAN LOSS 976260 NCUSIF PREMIUM ASSESSME 884315 LOAN SERVICING COSTS 244571 STATE INCOME TAX 159180 19961951 15633199 27147200 1639707 1709367 176291903 178753842 24249019 9438698 13311360 14810321 196311978 218916126 4635464 4662843 407823611 445999699 3455406 3285331 204724 255058 349404207 382857970 353064337 386398359 X 0 0 0 0 54759274 59601340 54759274 59601340 407823611 445999699 X 4312194 529872 X X 0 1 1 X 0 0 1 7698630 7698630 8585641 4410592 4175049 1798300 181613 1616687 6166448 4846493 1319955 14810321 AVAILABLE FOR SALE INVESTMENTS 217133293 F OTHER INVESTMENTS 1782833 F 218916126 MEMBERS' SHARES 382857970 382857970 24274145 19961951 4312194 2032813 -1502941 529872 4842066 24274145 0 24274145 0 24274145 19961951 0 19961951 0 19961951 PART IV, LINE 2B: OKLAHOMA CENTRAL CREDIT UNION HAS AN ESCROW ACCOUNT FOR MORTGAGES. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: MANAGEMENT EVALUATED THE CREDIT UNION'S TAX POSITIONS AND CONCLUDED THAT THE CREDIT UNION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH PROVISIONS OF FIN48. PART XI, LINE 8 - OTHER ADJUSTMENTS: NET REALIZED GAINS ON INVESTMENTS INCLUDED IN NET INCOME -1,502,941. X X X X 0 0 0 GINA WILSON 231379 0 87735 0 9250 0 24672 0 14718 0 367754 0 0 0 CAROLYN TOALSON 158839 0 24935 0 0 0 21329 0 2873 0 207976 0 0 0 NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 CREDIT UNION BEGAN ALLOWING OPTION FOR EXISTING MEMBERS TO UTILIZE INDIRECT LENDING PROVIDER. SERVICE WAS PROVIDED ONLY AS A CONVENIENCE TO EXISTING MEMBERS AND NOT TO INCREASE MEMBERSHIP COUNT. 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, VOLUNTEERS SIGN CONFLICT OF INTEREST POLICY; INTERNAL AUDITS ARE PERFORMED ON EMPLOYEE ACCOUNTS AND 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. ENTIRE GRADE LEVEL SYSTEM TESTED IN 2011 WITH PERIODIC TESTS BY OUTSIDE CONSULTANT WHEN NEW POSITION ADDED OR AT THE REQUEST OF CREDIT UNION. TESTING OF ENTIRE GRADE LEVEL IS EVERY OTHER YEAR. A COMPENSATION SALARY SURVEY COMPLIED 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 POSTED MONTHLY IN ALL BRANCH LOCATIONS. KEY STATISTICS POSTED ON WEBSITE. ALL INFORMATION CAN BE VIEWED ON CALL REPORT QUARTERLY THROUGH NCUA.GOV WEB SITE. AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. ANNUAL REPORTS GIVEN TO MEMBERSHIP AT ANNUAL MEETING. ANY PUBLIC REQUESTED DOCUMENTS ARE MADE AVAILABLE. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 2,032,813. NET REALIZED GAINS ON INVESTMENTS INCLUDED IN NET INCOME -1,502,941. TOTAL TO FORM 990, PART XI, LINE 5: 529,872. NO CHANGE FROM PRIOR YEAR REAL ESTATE FINANCIAL SERVICES LLC 8080 S YALE AVE TULSA OK 74136 446013230 SET UP TO BE A REAL ESTATE COMPANY BUT NEVER USED OK 0 0 N/A