How To Charter a Credit Union

On August 7, 2020, the NCUA granted its first — and only — credit union charter of the year to Growing Oaks Federal Credit Union ($964,059, Goldsby, OK). Led by CEO Pam Greening, the credit union serves those who live, work, or worship in the Sooner State counties of Canadian, Cleveland, McClain, and Oklahoma.

According to its website, the credit union intends “to be a federal credit union that distinctly returns to the cornerstone purpose for which credit unions were created, to assist the unserved and underserved.”

Growing Oaks started operating in December 2020; however, its story was years in the making. In this Q&A, Greening discusses the beginnings of the credit union, the chartering process, what she hopes the credit union will accomplish, and more.

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