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Oklahoma business briefs for Feb. 21, 2020

TTCU updates dividends

TTCU Federal Credit Union announced this week it paid out more than $3.2 million in member rewards dividends in 2019, an 8% increase over 2018 payouts after an especially strong year.

The credit union, which notes it is the state’s second largest, reports it reached $2 billion in total assets in 2019 thanks in part to an 8% growth in deposits.

It stated the percentage of members of participating employee groups who have a TTCU checking account also rose to 53%.

TTCU’s member rewards dividend payments are made quarterly and are based on active checking accounts, loan balances and deposit balances, officials said.

“TTCU’s member rewards program is unique in that we pay members for both deposit and loan balances,” stated Shelby Beil, the credit union’s chief financial and technology officer.

TTCU, established in 1934, has 135,000 members belonging to education-affiliated organizations served by 17 branches — six in Tulsa, two in Broken Arrow, one in Oklahoma City, Bixby, Jenks, Claremore, Miami, Muskogee, Owasso, Sapulpa and Tahlequah.

Staff reports