Totals
- Total revenue
- $38,207,802
- Total expenses
- $33,147,541
- Contributions and grants received
- $0
- Grants paid
- $205,390
- Program service revenue
- $25,030,484
- Investment income
- $12,532,355
- Other revenue
- $644,963
- Total assets, end of year
- $686,876,830
- Total liabilities, end of year
- $605,739,032
- Net assets or fund balances, end of year
- $81,137,798
- Program services expenses (Part IX)
- not reported
- Management and general expenses
- not reported
- Fundraising expenses
- not reported
- Program service expenses (Part III)
- not reported
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
2a · Program service revenue: INTEREST INCOME ON LOANS
total $19,490,650 · related or exempt $19,490,650
-
2b · Program service revenue: INTERCHANGE INCOME
total $2,747,696 · related or exempt $2,747,696
-
2c · Program service revenue: OTHER INCOME
total $1,346,900 · related or exempt $1,346,900
-
2d · Program service revenue: SERVICE CHARGES AND OTHER FEES
total $1,308,622 · related or exempt $1,308,622
-
2e · Program service revenue: FINANCE AND INSURANCE
total $136,616 · unrelated business $136,616
-
3 · Investment income
total $12,529,180 · excluded $12,529,180
-
7a · Gross sales of assets other than inventory
other assets $3,175
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $3,175
-
7d · Net gain or loss
total $3,175 · related or exempt $3,175
-
11a · Other revenue: GAIN ON EQUITY SECURITIES
total $644,963 · related or exempt $644,963
-
11e · Other revenue, total
$644,963
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $205,390
-
5 · Compensation of officers, directors and key employees
total $1,596,100
-
7 · Other salaries and wages
total $7,174,010
-
8 · Pension plan contributions
total $397,750
-
9 · Other employee benefits
total $1,311,498
-
10 · Payroll taxes
total $641,798
-
11a · Fees: management
total $380,031
-
11b · Fees: legal
total $51,338
-
11c · Fees: accounting
total $150,926
-
12 · Advertising and promotion
total $1,679,490
-
13 · Office expenses
total $2,861,533
-
14 · Information technology
total $2,620,962
-
16 · Occupancy
total $1,396,104
-
19 · Conferences, conventions and meetings
total $153,524
-
20 · Interest
total $8,111,756
-
22 · Depreciation, depletion and amortization
total $1,748,633
-
23 · Insurance
total $215,929
-
24a · Other expenses: PLL
total $799,455
-
24b · Other expenses: LOAN SERVICING COSTS
total $783,613
-
24c · Other expenses: OTHER OPERATING
total $618,997
-
24d · Other expenses: STATE INCOME TAX
total $248,704
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $3,776,748 · end of year $3,860,101
-
2 · Savings and temporary cash investments
beginning of year $31,731,320 · end of year $32,341,854
-
4 · Accounts receivable
beginning of year $4,426,453 · end of year $6,562,828
-
7 · Other notes and loans receivable
beginning of year $338,626,586 · end of year $317,823,742
-
9 · Prepaid expenses and deferred charges
beginning of year $838,638 · end of year $876,487
-
10a · Land, buildings and equipment: cost or other basis
$42,859,494
-
10b · Land, buildings and equipment: accumulated depreciation
$24,647,987
-
10c · Land, buildings and equipment, net
beginning of year $17,623,366 · end of year $18,211,507
-
12 · Investments: other securities
beginning of year $266,376,445 · end of year $297,792,582
-
15 · Other assets
beginning of year $9,449,473 · end of year $9,407,729
-
17 · Accounts payable and accrued expenses
beginning of year $2,164,142 · end of year $3,050,245
-
21 · Escrow or custodial account liability
beginning of year $305,296 · end of year $483,381
-
25 · Other liabilities
beginning of year $595,935,225 · end of year $602,205,406
-
29 · Capital stock, trust principal or current funds
beginning of year $0 · end of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0 · end of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $74,444,366 · end of year $81,137,798
Mission and programs · 2024
Mission
OKLAHOMA CENTRAL CREDIT UNION (THE CREDIT UNION) IS A 501(C)(14), STATE-CHARTERED CREDIT UNION. THE 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.
Activities or mission (Part I)
TO MAKE A DIFFERENCE IN THE LIVES OF OUR EMPLOYEES, MEMBERS, AND THE COMMUNITIES WE SERVE.
-
PROMOTE SAVINGS AND PROVIDE FINANCIAL SERVICES TO MEMBER/OWNERS - OVERALL DEPOSIT BALANCES INCREASED IN 2024 BY $6.4M OR 1.08% OVER THE PREVIOUS YEAR. SOME OF THE SAVINGS CATEGORY CHANGES DURING THE YEAR WERE: SAVINGS DECREASED BY $5.8M (2.81%); REGULAR CERTIFICATES INCREASED BY $17M (19.34%); CHECKING INCREASED $6.6M (4.46%); IRAS DECREASED $584K (1.27%), AND MONEY MARKET DECREASED $10M (9.73%). IN TOTAL, THIS REPRESENTS 69,290 ACCOUNTS FROM A MEMBERSHIP TOTAL OF 42,897 WITH AN AVERAGE BALANCE OF $14,086 PER MEMBER. THE MOMENTUM CHECKING ACCOUNT CONTINUED TO BE POPULAR DURING 2024 AND GENERATED 2,056 NEW ACCOUNTS. OUR LOW-FEE COMMERCIAL CHECKING ACCOUNT CREATED 53 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 2024, THE CREDIT UNION APPROVED 3,334 LOAN REQUESTS FOR OVER $79M. A TOTAL OF 293 REAL ESTATE LOANS WERE APPROVED WITH A DOLLAR AMOUNT OF $25M. THE CREDIT UNION IS IN ITS SEVENTEENTH 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 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 2024, 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 $40K 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 2024, EMPLOYEES CONTRIBUTED 2862 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, ST. FRANCIS CHILDREN'S HOSPITAL AND JOHN 3:16 MISSION.
As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Joel DollarJOEL DOLLAR
CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
John KushnerickJOHN KUSHNERICK
VICE CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Anne DormanANNE DORMAN
SECRETARY/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Tim HilleTIM HILLE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Penny CheffeyPENNY CHEFFEY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Andy MurphreeANDY MURPHREE
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Susan PhelpsSUSAN PHELPS
DIRECTOR
- Total calculated
- $0
- Hours/week
- 1
-
Eugenia WilsonEUGENIA WILSON
PRESIDENT/CEO
- Total calculated
- $606,426
- From this org
- $476,445
- From related orgs
- $0
- Other
- $129,981
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $378,258
- Bonus
- $88,937
- Other
- $9,250
- Deferred
- $114,495
- Nontaxable benefits
- $15,486
- Filer's total
- $606,426
-
William JolinWILLIAM JOLIN
CFO
- Total calculated
- $218,745
- From this org
- $187,463
- From related orgs
- $0
- Other
- $31,282
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $154,351
- Bonus
- $33,112
- Other
- $0
- Deferred
- $7,792
- Nontaxable benefits
- $23,490
- Filer's total
- $218,745
-
Allen CofferALLEN COFFER
CHIEF STRATEGY OFFICER
- Total calculated
- $155,940
- From this org
- $142,860
- From related orgs
- $0
- Other
- $13,080
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,450
- Bonus
- $21,410
- Other
- $0
- Deferred
- $5,206
- Nontaxable benefits
- $7,874
- Filer's total
- $155,940
-
Shelli SchroederSHELLI SCHROEDER
EVP COO
- Total calculated
- $268,386
- From this org
- $239,041
- From related orgs
- $0
- Other
- $29,345
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $197,371
- Bonus
- $41,670
- Other
- $0
- Deferred
- $5,855
- Nontaxable benefits
- $23,490
- Filer's total
- $268,386
-
Katrina MortonKATRINA MORTON
VP OF LENDING
- Total calculated
- $181,468
- From this org
- $160,217
- From related orgs
- $0
- Other
- $21,251
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,310
- Bonus
- $22,907
- Other
- $0
- Deferred
- $5,765
- Nontaxable benefits
- $15,486
- Filer's total
- $181,468
-
Joyce WhiteJOYCE WHITE
VP OF ACCOUNTING
- Total calculated
- $165,135
- From this org
- $151,161
- From related orgs
- $0
- Other
- $13,974
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,234
- Bonus
- $22,927
- Other
- $0
- Deferred
- $6,100
- Nontaxable benefits
- $7,874
- Filer's total
- $165,135
-
Emily FairchildEMILY FAIRCHILD
VP FINANCE
- Total calculated
- $143,695
- From this org
- $131,172
- From related orgs
- $0
- Other
- $12,523
- Hours/week
- 40
-
Jeremy LippiattJEREMY LIPPIATT
VP OF INTEGRATED TECHNOLOG
- Total calculated
- $158,497
- From this org
- $145,415
- From related orgs
- $0
- Other
- $13,082
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $123,742
- Bonus
- $21,673
- Other
- $0
- Deferred
- $5,208
- Nontaxable benefits
- $7,874
- Filer's total
- $158,497
-
Kathleen ManningKATHLEEN MANNING
DIRECTOR MARKETING & COMMUNICATION
- Total calculated
- $153,229
- From this org
- $124,455
- From related orgs
- $0
- Other
- $28,774
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $105,452
- Bonus
- $19,003
- Other
- $0
- Deferred
- $5,284
- Nontaxable benefits
- $23,490
- Filer's total
- $153,229
-
Jennifer MartinJENNIFER MARTIN
VP RETAIL SALES AND SERVICES
- Total calculated
- $130,395
- From this org
- $124,435
- From related orgs
- $0
- Other
- $5,960
- Hours/week
- 40
-
Marguerite VavrickMARGUERITE VAVRICK
DIRECTOR OF HUMAN SERVICES
- Total calculated
- $143,848
- From this org
- $123,683
- From related orgs
- $0
- Other
- $20,165
- Hours/week
- 40
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- PART I, LINE 3
- THE PRESIDENT/CEO PARTICIPATES IN A NON-QUALIFIED 457(F) RETIREMENT PLAN. THE EXPENSE ACCRUED DURING THE YEAR ENDED DECEMBER 31, 2024 WAS $ 102,000. THIS IS INCLUDED IN DEFERRED COMPENSATION REPORTED WITH THE CEO'S DEFERRED COMPENSATION BENEFITS REPORTED IN PART VII AND SCH J, PART II. THERE WERE NO BENEFIT PAYOUTS DURING 2024.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
-
TO SUPPORT THE ORGANIZATION IN PROVIDING QUALITY EDUCATION FOR UNDERSERVED MIDDLE SCHOOL STUDENTS
-
OKLAHOMA CENTRAL FOUNDATION INC
$44,165
TO ASSIT THE FOUNDATION IN IMPLEMENTING OKLAHOMA CENTRALS CREDIT UNION'S "TO MAKE A DIFFERENCE"
-
TO SUPPORT THE CITY LIGHTS FOUNDATION OF OKLAHOMA IN PROVIDING ESSENTIAL SERVICES AND RESOURCES TO INDIVIDUALS AND FAMILIES IN NEED
-
$20,000
TO SUPPORT PROVIDING EDUCATION, CONSERVATION, AND COMMUNITY ENGAGEMENT PROGRAMS
-
$8,500
TO SUPPORT THE PROMOTION OF ECONOMIC GROWTH, BUSINESS DEVELPMENT , AND COMMUNITY ADVANCEMENT
-
$7,725
TO SUPPORT IN PROVIDING MEDICAL CARE AND RESOURCES TO IMPROVE THE HEALHT AND WELL BEING OF CHILDREN
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
OKLAHOMA CENTRAL FOUNDATION INC
501(C)(3) · FUNDRAISING · OK · controlled entity
Directly controlled by OKLAHOMA CENTRAL CREDIT UNION
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 7 October 2025
- IRS schema version
- 2024v5.2
- Source object
- 202522819349300117
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