Okla. Stat. tit. 6, § 2007
Membership - Central Credit Unions
Effective Nov 1, 2026Laws 1941, SB 299, c. 16, p. 13, § 7, emerg. eff. June 4, 1941; Amended by Laws 1974, SB 514, c. 267, § 4, emerg. eff. May 29, 1974; Amended by Laws 1974, SB 256, c. 66, § 2 (repealed by Laws 1974, SB 514, c. 267, § 12) ; Amended by Laws 2000, SB 1344, c. 77, § 3, emerg. eff. April 14, 2000 (superseded document available); Amended by Laws 2026, SB 1623, c. 227, § 4, eff. November 1, 2026 (superseded document available).
A. Credit union membership shall consist of the incorporators, and such other persons and incorporated and unincorporated organizations and their employees, as may be elected to membership. Each member shall subscribe to at least one share of the credit union’s stock and pay the entrance fee. Credit union membership shall be limited to groups having a common bond of occupation or association, which shall be limited to one of the following categories:
- 1. Groups that have the same common bond of occupation or association;
- 2. Persons or organizations within a well-defined community, neighborhood or rural district; or
- 3. Groups which have, as to each individual group, a common bond of occupation or association, but, as to all such groups, need not have the same common bond of occupation or association as other groups within the credit union.
- B. The Oklahoma State Credit Union Board may not consider overlap in determining approval of a proposed field of membership for a credit union chartered by this state.
- C. The Board may permit a credit union chartered by this state to add any category of association as is preapproved by the National Credit Union Administration and may designate other preapproved categories of associations or persons eligible for membership including, but not limited to, persons with income at or below one hundred fifty percent (150%) of the United States Department of Health and Human Services Poverty Guidelines residing in underserved areas.
- D. A central credit union may be organized to which members of existing credit unions operating in accordance with the law of the this state, or of the United States of America, may belong, and to which credit unions organized and operating under this state or of the United States of America may also belong.
Laws 1941, SB 299, c. 16, p. 13, § 7, emerg. eff. June 4, 1941; Amended by Laws 1974, SB 514, c. 267, § 4, emerg. eff. May 29, 1974; Amended by Laws 1974, SB 256, c. 66, § 2 (repealed by Laws 1974, SB 514, c. 267, § 12) ; Amended by Laws 2000, SB 1344, c. 77, § 3, emerg. eff. April 14, 2000 (superseded document available); Amended by Laws 2026, SB 1623, c. 227, § 4, eff. November 1, 2026 (superseded document available).