Communication Federal Credit Union is headquartered in Oklahoma City and is the 3rd largest credit union in the state of Oklahoma. It is also the 241st largest credit union in the nation. It was established in 1939 and as of December of 2022, it had grown to 259 employees and 115,953 members at 22 locations. Communication Federal Credit Union's money market rates are 6X the national average, and it has an A health rating.
Membership in Communication Federal Credit Union is open to anyone who lives in Oklahoma or Kansas by joining the Oklahomans for Energy and Jobs/Natural Resources Education Foundation ($5 one-time membership fee). Membership is also open to those who live, work, or worship in Carter or Pottawatomie Counties or within Broken Arrow, Oklahoma. Employees and retirees of more than 500 Select Employer Groups, including Oklahoma Natural Gas, Kansas Gas, and several IBEW Locals, also qualify.
See current membership details
Huge thanks to Michelle Washington, Lauren Pippin, Alisha Mccuan and team for the best customer service possible!!! I am writing this review on the Friday night that I was supposed to close on my new home but unfortunattly it has been hung up and pushed back due to the dragging of feet by the buyer's lender for our home, Navy Federal Credit Union. We could be so fired up with frustration with NFCU but instead I am feeling so appreciative of our CFCU family! They were ready to go all times with outstanding customer service like always. My family has been lifetime members for a reason. Michelle even changed our realtor's opinion of dealing with Credit Unions. Keep up the great work!!!
I've been with this credit union for over 20 years and have never once experienced anything bad. I use the NW Expressway and Edmond locations mostly. Everyone is friendly and helpful.. I even got my daughter an account a year or so ago and we both just financed new cars at the lowest rate anyone else could offer. They made it so easy and I would never think of leaving them.
I'm not sure about the negative posts here.. Some people will never be happy about things.. You see them screaming at checkers in the grocery store for no good reason.. always embarrassing.. Some people will always find bad because that's just how they are..
Talking about "tough to join" and a bit misleading:
They stated at their website that anyone can join easlily via the "Citizen for Financial Literacy" with $5 contribution. Then when one applies, they stated after one goes through all the online application procedures (Chex, ID check, sending payment, etc.): "Sorry, you have to live in OK or Kansas to join that association."
I am not complaining about the "tough to join" part, but it is a bit misleading to cause people to apply, then they turned one down rapidly. It is a waste of time on the part of the applicants.
Ref. from their website:
It's never been easier to join Communication Federal Credit Union! Just click the Open My Account button below and go directly to our online membership application.
New member? Signing up is simple and easy. Citizens for Financial Literacy
(If you do not fall within our regular field of membership, you may join the Citizens for
Financial Literacy association in order to become a member with Communication
Federal Credit Union) -- Note that nowhere it specifies the residency requirement to join this association during the important application process.
Please note that Maria did point out the residency requirement was stated at the cover page. The CC should have included this crucial information during the online application process to ensure te ruling out of out-of-state applicants (like the Kasasa Cash application process). Since it is now a minor flaw, I have modified my initial comments and rating accordingly. Thanks Maria!
The Edmond branch is the worst credit union I have ever used. The tellers are polite and try to be helpful. But the manager and assistant manager are poorly trained. They almost made a $500 mistake on my IRA because they don't know the difference in a transfer and rollover. If you want to use this branch, be sure to check every single thing they do.
Overall | |
---|---|
NCUA # | 3454 |
Year Chartered | 1939 |
Employees | 259 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.05% |
Return on Equity - YTD | 9.39% |
Annual Interest Income | $67.7MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2022vs Q4 2021 | $1.96B$1.78B |
Loans | Q4 2022vs Q4 2021 | $1.54B$1.33B |
Deposits | Q4 2022vs Q4 2021 | $1.68B$1.50B |
Equity Capital | Q4 2022vs Q4 2021 | $215.7MM$221.6MM |
Loan Loss Allowance | Q4 2022vs Q4 2021 | $12.2MM$8.3MM |
Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $10.7MM$3.5MM |
Real Estate Owned | Q4 2022vs Q4 2021 | $0$29.00K |
Always verify rates and promotions with the bank or credit union. We are not Communication Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
1.25%* | - | $30k | Performance Checking | ||
OTHER TIERS: 0.10% → $30k+ | |||||
0.10% | $750 | - | Plus Checking Account |