Guide to Federally Chartered Credit Unions in Oklahoma
Turn to Oklahoma credit unions for low fees and higher interest rates
By Amy Jo Garner, Consultant
Your money is just as safe in government chartered credit unions in Oklahoma as in a traditional bank. Savings are insured up to $100,000 by the U.S. government. The National Credit Union Administration (NCUA) charters, supervises and insures federal credit unions in Oklahoma. Some things to keep in mind when joining a credit union include:
1. You must qualify for membership in Oklahoma credit unions by belonging to their "field of membership," which normally includes communities, churches, employers and schools in the institution's service area.
2. You'll have to buy a "share" (sometimes as low as $5) which you must keep in your account at all times to maintain membership.
3. Choose Oklahoma federal credit unions that participate in the Credit Union Service Center network, giving you nationwide access to your accounts.
Action Steps
The best contacts and resources to help you get it done
Join employer-sponsored federal credit unions in OK
Over the years, a number of large employers in Oklahoma have started credit unions for their employees. Luckily, you don't necessarily have to work for that employer to qualify for membership. Most are open to employees of other businesses in the community.
I recommend: The 66 Federal Credit Union was started for the employees of Phillips Petroleum in 1939 and is now open to employees of more than 100 other companies. Halliburton Employees' Federal Credit Union offers membership to select groups in Duncan, Oklahoma. Lockheed Federal Credit Union is one of the largest in the country; join by being a member of a sponsor company or by joining their Achiever's Club.
Choose federally chartered credit unions in Oklahoma just for teachers
Teachers and their families in Oklahoma can take advantage of one of the credit unions designed just for Oklahoma educators.
I recommend: Teachers, school employees, students and retired educators in Tulsa, Creek, Osage, Adair, Cherokee, Craig, Delaware, Mayes, Nowata, Okmulgee, Ottawa, Rogers, Wagoner and Washington counties are eligible for membership in the Tulsa Teachers Credit Union. The Oklahoma Educators Credit Union is open to school employees across the state.
Look to a community-based OK federal credit union
Many credit unions define a field of membership along geographic boundaries. If you live, work, go to school or worship in that geographic area, you qualify for membership.
I recommend: Allegiance Credit Union is open to anyone in the Oklahoma City Metropolitan Statistical Area and active employees of the federal government anywhere in the state. Weokie Credit Union serves Oklahoma, Canadian, Cleveland, Logan, McClain and Pottawatomie counties and more than 550 employer groups. Oklahoma Federal Credit Union members must be in the Empowerment Zone of Oklahoma City.
Take advantage of government credit unions in Oklahoma that serve government employees
Employees of state, federal and local government often have a credit union available to them. Membership is typically open to the employee, the employee's immediate family, and other select employer groups.
I recommend: The FAA Credit Union is obviously for employees of the FAA. However, anyone who lives, works, worships or goes to school in Oklahoma, Canadian, Cleveland, Logan, McClain, or Pottawattomie counties can join. Tinker Federal Credit Union serves both military and civilian employees at Tinker Air Force Base, members of select employee groups, and elected officials or employees of Ada, Arcadia, Del City, Edmond, Enid, Luther, Moore, Norman, Nash, Yukon, or Garfield County or Cleveland County.
Tips & Tactics
Helpful advice for making the most of this Guide
- • Ask around at work, church and school to see what government chartered credit unions in Oklahoma you might be eligible to join.
- • When choosing banks and credit unions in Oklahoma, always compare services, fees, interest rates and accessibility.
