Tulsa Federal Employees CU Switches To Federal Charter

Published February 18, 2009, 6:56 p.m. EST

|

Updated August 27, 2020, 12:48 a.m. EDT

1 Min Read

TULSA, Okla. – NCUA said it has approved a request for Tulsa Federal Employees CU to convert to a federal charter.

Processing Content

Officials with the $430 million credit union said they sought the federal charter in order to expand member business lending and to bring their oversight under NCUA, which focuses entirely on credit unions, in contrast to the state’s banking regulator, which oversees state chartered credit unions too.

The charter switch is the first for an Oklahoma credit union since 1994.

For reprint and licensing requests for this article, click here.

MORE FROM AMERICAN BANKER

Interest rates

Banks shrug off impact of first rate hike in three years

Bankers are largely downplaying the impact of the Federal Reserve's interest rate increase. Some said this week that the quarter-point hike could be good for near-term profitability.

By Allissa Kline
Reporter

49m ago
Professional development

Morgan Stanley asks advisors to produce more to keep same pay

With three years of market appreciation buoying most advisors' revenue generation, Morgan Stanley says: Produce a bit more or see a small pay cut.

By Dan Shaw
Reporter

54m ago
State regulators

Subprime auto lender agrees to $710M settlement with states

Credit Acceptance Corp. has agreed to provide $710 million in restitution and debt relief to resolve allegations of predatory lending by 41 state attorneys general.

By Kate Berry
Reporter

1h ago
Stablecoin

What Hyundai learned from its stablecoin test drive

The South Korean automaker's credit card subsidiary completed two proof-of-concept transactions that used stablecoins to move funds between subsidiaries in the U.S. and Mexico without a bank. Next, Hyundai Motor will test if the technology can be used as the backbone of its global treasury infrastructure.

By Joey Pizzolato
Reporter

1h ago
Regulation and compliance

SEC warns new outside activity rule isn't a free-for-all

Brokerages applaud a new rule that will relieve them of the obligation to monitor advisors' side gigs such as driving for Uber or bartending. But regulators say they still have plenty of obligations to monitor outside business activities.

By Dan Shaw
Reporter

2h ago
SEC

SEC clears path for tokenized stock trading

The Securities and Exchange Commission on Thursday issued an order allowing some tokenized U.S. stocks to be traded on blockchain-based platforms.

By Maria Volkova
Reporter

2h ago

Load More