OKLAHOMA CITY, Okla.–The Oklahoma State Credit Union Board approved a 30% discount in the assessments collected from Oklahoma state-chartered credit unions.
The approval came during the board’s last meeting of the year and is based on the Commissioner’s budget estimates for 2026. Oklahoma State Banking Department Commissioner Mick Thompson said the Banking Department’s goal is to operate on a “break even” budget and when funds are not needed to operate the department, that money should remain with the credit unions to support member services.
According to the department, this year’s reduction will allow it to fully fund credit union supervision while also reducing regulatory burden on state-chartered institutions. Thompson said in a statement that he recognizes most regulatory matters are issued from the federal government and that the states cannot directly eliminate that burden.
Any savings achieved by a reduction in assessments can be redirected by the credit unions toward other expenses and member services, he added.
Pictured below: Gina Wilson, Oklahoma Central Credit Union; Commissioner Mick Thompson; Cindy White, Oklahoma Educators Credit Union; Deputy Commissioner Dudley Gilbert; and Steve Rasmussen, Lay Member. Not pictured: Tyrel McCain, Credit Union One of Oklahoma.
