State flag of Oklahoma. (Source: Shutterstock)
National Credit Union Administration Board Chair Rodney E. Hood on Monday announced 2019's first federal charter has been presented to a new credit union that will serve the Otoe-Missouria Tribe in Oklahoma.
The Otoe-Missouria Federal Credit Union in Red Rock will serve approximately 4,200 members and employees of the Otoe-Missouria Tribe and 17 tribal-owned businesses.
Recommended For You
The Otoe-Missouria Development Authority is sponsoring the new credit union. The organization serves all Otoe-Missouria Tribal members to become self-sufficient in the operation and development of revenue sources that provide for the Tribe's present and future needs.
The NCUA has designated Otoe-Missouria FCU as a low-income credit union, based on its potential membership. This designation gives the credit union the ability to accept non-member deposits, obtain grants and loans from the Community Development Revolving Loan Fund, offer secondary capital accounts, and qualify for exemptions from statutory limits on member business lending
"I congratulate the tribal community for making their vision for this credit union a reality," Hood said. "This charter supports the President's plan to perpetuate economic growth and establishes greater opportunity and financial security for individuals and businesses by providing affordable services tailored to meeting the needs of the Otoe-Missouria Tribe, its employees, and its businesses."
The credit union will offer members regular shares, share draft accounts, money market accounts, auto loans, unsecured loans, share-secured loans, payroll deduction and home banking.
Future planned services include debit cards, courtesy pay, mobile banking, and reloadable gift cards.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Peter Strozniak
Credit Union Times reporter covering credit union operations, fraud, M&As, leagues, business continuity, and breaking news.
