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  • Comment Detail

  • Date: 03/30/23
    First Name: Shane
    Last Name: Richins
    Email: shane.richins@okcu.org
    Organization Type: other
    Organization: Oklahoma's Credit Union

  • Comment

    Our Credit Union has partnered with the FHLBank for over a decade allowing us to use a variety of products and services to grow our cooperative and serve our membership. Our asset size is 780 million with rapid growth coming over the past 3 years. FHLBank has allowed us to grow at an accelerated pace while maintain safety and soundness. We mainly us bullet borrowing stacked by term to fund our commercial and real-estate loans. The prices are highly competitive and allow us to service the debt at fair market costs to continue to build our equity and support the community we serve. The FHLBank also allows us to have sufficient liquidity access on hand to use overnight borrowings, lines of credit, and other term borrowing. This access allows the credit union to maintain emergency liquidity reserves that protect the institution for large deposit run off or other liquidity emergencies. The FHLBank is vital to our institution as it’s the first source of borrowing we use to fund loan operations in a manner that is efficiently and fairly priced. The support from the personnel at the FHLBank is critical to our success with professionals and expertise that allow us to meet our needs in the market.