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OSBD InBox: State Credit Union Board Approves Reduction in 2020 Assessments

OSBD InBox: State Credit Union Board Approves Reduction in 2020 Assessments

Volume 11 Number 10 November 20, 2019

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2019-11-19 State Credit Union Board

State Credit Union Board Approves Reduction in 2020 Assessments

In furtherance of the “Top Ten State” initiatives pursued by Governor Kevin Stitt, State Bank Commissioner Mick Thompson announced this week that the Oklahoma State Credit Union Board approved the Commissioner’s recommendation to discount the assessments paid by Oklahoma state-chartered credit unions. This year’s discount reduces the assessment by 15% for each credit union. The Commissioner presented a proposed agency budget to the Board that reflected how the Department can continue its efficient operation with the discount to assessments.

When combined with previous reductions, Oklahoma state-chartered credit unions have received discounts totaling approximately $1.3 million in assessments during the past nine years. The Banking Department has used the assessment discount as both an opportunity to reduce regulatory burden on state-chartered institutions as well as an endorsement of Governor Stitt’s fiscal responsibility initiatives for state agencies.

Pictured Above: The State Credit Union Board Members
Seated: Mark Kelly, Oklahoma's Credit Union; Commissioner Mick Thompson; and Jason Boesch, Energize Credit Union. Standing: Nate Webb, Oklahoma Credit Union Association; Eddie Foreman, Lay Member; and Johnny O'Hare, Cherokee Strip Credit Union.

Please Note:

The email address from which this communication was sent is not monitored for responses. You may send responses to regina.rainey@banking.ok.gov instead. Thank you.


Oklahoma State Banking Department

2900 North Lincoln Blvd

Oklahoma City, OK 73105

Phone (405) 521-2782

Fax (405) 522-2993

Tulsa Field Office:

Triad Center I

7666 E. 61st Street

Suite 305

Tulsa, Oklahoma 74133

Local: (918) 295-3649

Fax: (918) 893-6405

Bank Board Meeting:

December 18, 2019

Credit Union Board Meeting:


Oklahoma Banking Department 
2900 North Lincoln Boulevard
Oklahoma City, Oklahoma  73105

Phone: 405-521-2782

Phone: 918-295-3649

Fax: 405-522-2993

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