Oklahoma Central Credit Union

Promote savings and provide financial services to member/owners - overall deposit balances grew in 2022 by $218k or 0.03% over the previous year. Some of the savings category changes during the year were: savings at $2.6 million (1.16%); regular certificates at $6.8 million (10.92%); checking at $5.8 million (3.93%); iras decreased $3.4 million (6.90%), and money market at $11.6 million (8.25%). In total, this represents 69,432 accounts from a membership total of 44,299 with an average savings of $14,150 per member. The momentum checking account became popular during 2022 and generated 238 new accounts. Our low-fee commercial checking account created 17 new accounts. Oklahoma Central 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 (seg) 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.

Community involvement: Oklahoma Central Credit Union (the Credit Union) continues to support and be active in the communities we serve. In 2022, the Credit Union 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 $40,000 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 2022, employees contributed 1,472 hours to various organizations. 4) the Credit Union made financial donations through a refer-a-friend program to organizations such as dvis, family & children's services, st. francis children's hospital and john 3:16 mission.

Provide enhanced access to Credit at reasonable rates - Oklahoma Central Credit Union (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 2022, the Credit Union approved 5,464 loan requests for over $157 million. A total of 271 real estate loans were approved with a dollar amount of $24 million. The Credit Union is in its fifteenth 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.