Safe and Sound

OK MEMBERS FIRST

TULSA, OK
4
Star Rating
OK MEMBERS FIRST is a TULSA, OK-based, NCUA-insured credit union started in 1951. Regulatory filings show the credit union having assets of $21.4 million, as of December 31, 2017.

With 5 full-time employees, the credit union has amassed loans and leases worth $13.8 million. Its 3,613 members currently have $18.1 million in shares with the credit union.

Overall, Bankrate believes that, as of December 31, 2017, OK MEMBERS FIRST exhibited a good condition, earning 4 out of 5 stars for safety and soundness. Keep reading for a look at how the credit union faired on the three key criteria Bankrate used to evaluate American credit unions.

WHAT IS
SAFE AND SOUND?

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THE INSTITUTION'S SCORE

Capital Score

Capital is a useful measurement of an institution's financial resilience. It acts as a cushion against losses and provides protection for members when a credit union is struggling financially. From a safety and soundness perspective, the more capital, the better.

OK MEMBERS FIRST scored above the national average of 15.65 points on our test to measure capital adequacy, achieving a score of 20 out of a possible 30 points.

OK MEMBERS FIRST's capitalization ratio of 20.00 percent in our test was above the average for all credit unions, an indication that it could have an easier time weathering financial trouble than its peers.

Asset Quality Score

This test's purpose is to try to understand how the credit union's loan loss reserves and overall capitalization could be affected by troubled assets, such as past-due mortgages.

A credit union with lots of these types of assets could eventually be required to use capital to cover losses, shrinking its equity buffer. It also means that there are likely to be many assets that are in non-accrual status and no longer earning money, diminishing earnings and increasing the chances of a failure in the future.

On Bankrate's test of asset quality, OK MEMBERS FIRST scored 40 out of a possible 40 points, better than the national average of 38.09 points.

Troubled assets made up 0.00 percent of OK MEMBERS FIRST's total assets in our test, below the national average and suggestive of greater financial strength than other credit unions.

Earnings score

How successful a credit union is at making money has an effect on its long-term survivability. Earnings may be retained by the credit union, increasing its capital buffer, or be used to deal with problematic loans, likely making the credit union more resilient in tough times. Conversely, losses diminish a credit union's ability to do those things.

OK MEMBERS FIRST scored 6 out of a possible 30 on Bankrate's earnings test, coming in below the national average of 10.11.

The credit union had an earnings ratio of 0.00 percent in our test, better than the average for all credit unions, a sign that it's running ahead of its peers in this area.

WHAT IS SAFE & SOUND?

Bankrate.com's Safe & Sound Ratings provide a star rating system to evaluate the current financial status of financial institutions. The information gathered about banks, credit unions and thrifts is updated as set forth in the Terms of Use of Safe & Sound Ratings and Reports. The Safe & Sound Ratings information is grouped by categories of banks, thrifts and credit unions.

Scoring methodology

Bankrate.com evaluates the financial condition of institutions and assigns a one- to five-star rating for each with five stars representing the highest rating. Institutions with satisfactory performance will generally receive a rating of three or more stars. The majority of institutions fall into the three- to four-star range. An institution with an "NR" rating may be too new to rate or may have limited the publicly available information in their regulatory filings. The "NR" is not an indication of financial strength or weakness. The Safe & Sound rating is believed to be reliable, but the information is not guaranteed. In addition, events since the information was collected may have altered the institution's financial condition.