Red Crown Facts

FoundedFebruary 8, 1938
Organization TypeA member-owned, not-for-profit cooperative financial institution.
CharterFederal
Regulatory AgencyNational Credit Union Administration (NCUA)
Board of DirectorsSeven Board Members. Elected to three year terms.
Total Membership21,697
Total Assets$258,197,475
Number of LocationsFive
Counties ServedEight
Insured ByYour savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States government.
Facts as of December 2022

Observed Holidays

Our locations observe and close for the following federal holidays:

  • January 1, 2024
  • January 15, 2024
  • February 19, 2024
  • May 27, 2024
  • June 19, 2024
  • July 4, 2024
  • September 2, 2024
  • October 14, 2024
  • November 11, 2024
  • November 28, 2024
  • December 25, 2024
  • January 1, 2025

Online banking and ATMs are available 24/7. However, these services need to be established by credit union staff before they can be accessed.

CO-OP Shared Branching Locations

A CO-OP Shared Branch may have different holiday closing hours. Find their locations and hours of operation.


Relationship Pricing – hidden

Red Crown Relationship Pricing is how we thank our loyal members for using our products and services. Benefits are grouped as Bronze, Silver, Gold, and Platinum. Below is a list of the awards and the requirements for each group:

BronzeSilverGoldPlatinum
Free check cashingXXXX
Free ATM inquiryXXX
No copy feesXXX
Free stop paymentsXX
50% off Safe Deposit BoxXX
Reduced OOPS feeXX
Free overdraft transfer from savingsXX
Free Safe Deposit BoxX
Free domestic wire transfersX
Bonus rate on share certificatesX

Relationship Pricing Qualifications

Bronze

  • Combined average balance on Share Accounts and/or loans equal to or greater than $50.00

Silver

  • Combined average balance on Share Accounts and/or loans equal to or greater than $5,000.00
  • Checking account with either a direct deposit or debit card transaction in last 31 days.
  • Online or mobile banking accessed in last 31 days.
  • No loan delinquent > 30 days.

Gold

  • Combined average balance on Share Accounts and/or loans equal to or greater than $20,000.00
  • Checking account with either a direct deposit or debit card transaction in last 31 days.
  • Online or mobile banking accessed in last 31 days.
  • No loan delinquent > 30 days.

Platinum

  • Combined average balance on Share Accounts and/or loans equal to or greater than $50,000.00
  • No loan delinquent > 30 days.
  • Member for at least 20 years.

Finances

Statement of Condition

Assets20222021
Cash18,072,41227,900,958
Investments56,833,71865,286,872
Loans171,361,300168,037,178
Allowance for Loan Loss(546,497)(868,065)
Other Assets12,476,54212,096,439
Total Assets$258,197,475$272,453,382
Liabilities and Member Equity
Member Shares and Certificates234,996,875242,686,549
Borrowed Funds9,000,0009,000,000
Other Liabilities1,421,1091,388,227
Total Liabilities245,417,984253,074,776
Member Equity12,779,49119,378,607
Total Liabilities and Equity$258,197,475$272,453,383

Statement of Income

Interest Income20222021
Interest on Loans7,866,0877,719,001
Interest on Investments955,404796,653
Total Interest Income$8,821,491$8,515,655
Interest Expense
Member Shares and Certificates797,430841,327
Borrowings196,372270,170
Total Interest Expense$993,802$1,111,497
Net Interest Before Provision8,235,4517,404,158
Provision for Losses on Loans(156,500)(290,250)
Net Interest After Provision$8,078,951$7,113,908
Non-Interest Income$2,767,091$2,622,657
Non-Interest Expense
Compensation and Benefits4,829,5264,594,666
Office Occupancy and Operations2,053,6381,919,784
Other Expenses2,552,8682,312,853
Total Non-Interest Expense9,436,0328,827,303
Non-Operating Gain (Loss)277,8621,395,320
Net Income$1,687,872$2,304,582

Annual Meeting

The Red Crown Credit Union Annual Meeting and Election will be held on Tuesday, April 2, 2024 at 4:00pm in the Red Crown Credit Union Board Room located at the Red Crown Credit Union Southtown location (5001 E. 91st St. Tulsa, OK. 74137).

In accordance with the Credit Union’s Bylaws, the Nominating Committee Secretary hereby submits the following Annual Election Notice: There are two, 3-year terms expiring to be fulfilled on the Board of Directors. The following two Volunteers have been nominated for election by the Nominating Committee:

  • Larry Berry
  • Lisa Strickland
  • JoNelle Parks

An election will not be conducted by ballot where there is only one nominee for each position to be filled. If there is at least one nomination by petition, an election will be held in the branches by ballot two weeks prior to the Annual Meeting. If there are no nominations by petition, the candidates nominated by the committee will be elected by acclamation at the Annual Meeting.

Red Crown Credit Union members who are not nominated by the Committee, but would like to run for election, may pursue nomination by petition. Any member who wants to submit a nomination by petition must obtain a Petition Packet from the Red Crown Credit Union Southtown location. When returned, the petition must be signed by one percent of the membership with a maximum of 500. As of November 30, 2023 Red Crown Credit Union had 21,633 members and therefore the Nomination Petition must be signed by at least 216 Red Crown Credit Union primary account holders.

Each Nominee by Petition shall submit a Statement of Qualifications, Biographical Data and a signed Certificate stating that they are agreeable to nomination and will serve, if elected, to office. All petitions must be returned to the Red Crown Credit Union Southtown location by February 23, 2024.


Board of Directors

The Red Crown Board of Directors consists of members who are elected by our members at our Annual Meeting. The board then elects officers, which include: Chairman, Vice-Chairman, Treasurer and Secretary. In addition to being a member of the board, each member is required to be on a committee and have good attendance.

The main task of the Board of Directors is to direct the business affairs, set policies and direct the long term operations of Red Crown in monthly board meetings.

Our Board Members

  • J. Frank Jackson – Chairman
  • Gerry Thames – Vice-Chairman
  • Chuck Self – Treasurer
  • Mary Stonecipher – Secretary
  • JoNelle Parks
  • Lisa Strickland
  • Larry Barry

Supervisory Committee

The Supervisory Committee is an audit committee that oversees the audits and internal controls of the credit union. They are responsible for ensuring a complete and thorough credit union audit is conducted at least once a year. This helps the board ensure that the financial condition of Red Crown is accurately and fairly presented in the financial statements and that the management’s practices and procedures are sufficient to safeguard members’ assets.

The Supervisory Committee looks out for our members’ best interests. Members are welcome to contact the supervisory committee with any concerns regarding their account at Red Crown. Mail questions or concerns to:

Red Crown Federal Credit Union
Attention: Supervisory Committee
9521-B Riverside Parkway #116
Tulsa, OK 74137

Please include a name and contact information so the Supervisory Committee can respond to your questions or concerns.

Committee Members

  • Mark Ramsey – Chairman
  • James Chavez
  • Kenny Hammond
  • Cindy Harp
  • C.J. Parker, Internal Auditor/Compliance Officer

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