TTCU Federal Credit Union has reached $2 billion in total assets during the last quarter of 2019, doubling the size of the credit union’s assets in just nine years. First chartered in 1934, TTCU reached $1 billion in 2011.
“While I’m proud of our growth, the most important thing is that our increased size allows us to offer more to our members,” said TTCU CEO and President Tim Lyons. “TTCU is currently undergoing a major overhaul of our computer infrastructure, and members will notice the difference in improved technology offerings and streamlined services.”
TTCU’s larger asset size has also allowed it to offer new product lines and open additional branch locations to make it more convenient for members. TTCU will open a branch in Oklahoma City this month and plans to open a branch in Sand Springs later in the year.
TTCU’s growth is due partly to members looking for safer investment options for their savings after the 2008 financial crisis. Also contributing to the asset growth is the increase in membership TTCU has experienced in recent years. While net income and borrowings play a role in asset size, the primary factor taken into account is deposit growth.
“The primary way a credit union grows assets is through member deposits,” said Chief Financial and Technology Officer Shelby Beil. “For each dollar deposited, TTCU’s asset size grows by a dollar.”
About TTCU Federal Credit Union
TTCU is the second-largest credit union in Oklahoma with 17 branches: six in Tulsa, two in Broken Arrow, one in Oklahoma City, Bixby, Jenks, Claremore, Miami, Muskogee, Owasso, Sapulpa, and Tahlequah. Established in 1934, TTCU FCU is a $2 billion credit union serving more than 135,000 members who are educationally affiliated, including students and their families as well as hundreds of select employee groups in NE Oklahoma with a full complement of depository, lending, and financial advisory services.