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Overview / Commentary
918-582-1965
1419 S Denver Ave
Tulsa, OK 74119

First Oklahoma Federal Credit Union is headquartered in Tulsa and is the 38th largest credit union in the state of Oklahoma. It is also the 3,046th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 11 employees and 3,823 members. First Oklahoma Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership to First Oklahoma Federal Credit Union is open to all persons who live, work (or regularly conduct business), worship or attend school in, and businesses and other legal entities located in Tulsa or Creek Counties, Oklahoma. For more specific information, contact the credit union for details at (918) 582-1965. - See Details

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Health

Data for Q1 2014

Institution Health

B+
Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. First Oklahoma Federal Credit Union has a low asset base.

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Oklahoma Federal Credit Union had $105,000 in non-current loans and owned real-estate with $2.74 million in equity and loan loss allowances on hand to cover it. This gives First Oklahoma Federal Credit Union a Texas Ratio of 3.83% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for First Oklahoma Federal Credit Union experienced no significant changes from 1.74% as of March 31, 2013 to 3.83% as of March 31, 2014, resulting in a negative change of 119.97%. This indicates that the balance sheet and financial strength for First Oklahoma Federal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, First Oklahoma Federal Credit Union has increased its total deposits by $577,000, resulting in 2.3% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Oklahoma Federal Credit Union has shown is above average.

Capitalization

GRADE:
B

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Oklahoma Federal Credit Union has $28.36 million in assets with $2.74 million in equity, resulting in a capitalization level of 9.67%, which is above average.

Institution Statistics

Overall
NCUA #9090
Year Chartered1953
Employees11
Primary Regulator
Assets and Liabilities
Assets$28.36 million
Loans$20.00 million
Deposits$25.71 million
Equity Capital$2.59 million
Loan Loss Allowance$156,000
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Historic Data - March 2013
Assets$27.75 million
Equity Capital$2.50 million
Loan Loss Allowance$89,000
Unbacked Noncurrent Loans$105,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.45%
Return on Assets0.54%
Return on Equity5.88%
Interest Income$345,000
Rates
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First Oklahoma Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$30k-Regular Shares
0.50%--IRA Shares
0.25%--Club Shares

First Oklahoma Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.50%--60 Month CD
1.45%--48 Month CD
1.25%--36 Month CD
1.00%--24 Month CD
0.75%--18 Month CD
0.70%--12 Month CD
0.65%--6 Month CD

First Oklahoma Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.50%--60 Month IRA
1.45%--48 Month IRA
1.25%--36 Month IRA
1.00%--24 Month IRA
0.75%--18 Month IRA
0.70%--12 Month IRA
0.65%--6 Month IRA
Locations


First Oklahoma Federal Credit Union Locations
Branch Office1419 S Denver AveTulsa, OK 74119
Branch Office2132 S 91st East AveTulsa, OK 74141-9000