Oklahoma's CU House Gets Closer

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The Oklahoma Credit Union League hopes to have its offering to raise money to build a Credit Union House in the state capitol out to the state's credit unions for their consideration in early January.

Back in September the league announced its plan to build its own version of CUNA's CU House in the nation's capital in the state capital of Oklahoma City. Oklahoma's Credit Union House will be owned by a CUSO the league is forming called CU House, LLC, so it will be owned by the credit unions who buy into the CUSO. "The attorneys have the paperwork and are putting together our offering now," OCUL CEO Lisa Finley told The Credit Union Journal. "Credit unions are already working on getting commitments from their boards."

The league has established a minimum of $1 million and a maximum of $3 million to be raised for the project. "We want credit unions to know that we're not going to build anything they can't be proud of," Finley explained. "But we're not going to build the Taj Mahal, either, so we wanted to set a minimum and maximum to show that commitment."

CU House, LLC will purchase land owned by Credit Union One that is near the capitol building as the site for the new project that is designed to increase the visible presence of credit unions in the state's capital.

There are no plans to eliminate OCUL's office in Tulsa, Finley noted, but the league will be using space in CU House for some of its staff who will be working out of Oklahoma City.

When the lease on the Tulsa office comes up in the fourth quarter of 2007, the league will downsize that office but will not close it. Credit Union House is expected to be completed by the first quarter of 2007, giving the league ample time to move those staffers who need or want to be in Oklahoma City.

"As people leave the league and we hire new people, we will see where they are most needed," Finley offered. "But I don't foresee a time when there will be no office in Tulsa."

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