ANNUAL REPO RT
2 019
MESSAGE FROM LEADERSHIP “Remember where you came from.” It’s a solid piece of advice parents give their children. It’s meant to remind them not to lose sight of their beginnings while rushing headlong into the future; to find guidance from lessons of the past. It works for credit unions, too. While TTCU Federal Credit Union was achieving tremendous milestones in 2019, we also were carefully tending our roots and finding inspiration there. In November, TTCU celebrated 85 years of people helping people. Started in 1934 by a handful of teachers during the Great Depression, TTCU began life in the halls of Tulsa’s old Central High School as a way for teachers to get credit in order to make it through the hard times. Helping each other — our members — remains our purpose today. In 2019: ► TTCU received the distinguished national Juntos Avanzamos designation, bestowed on credit unions committed to serving Hispanic and immigrant communities through education and services that improve financial wellbeing. ► TTCU developed new share certificates designed to meet specific life stage needs of our members. ► We implemented a new program designed to nurture our new members, to properly welcome them and introduce them to all the ways we are here to help them live their best financial futures. ► We put finishing touches on our first branch in the Oklahoma City metropolitan area, bringing our member-centric philosophy and public education philanthropy to a new region. ► We broke ground on a new location in Sand Springs, answering the call of that community to build a TTCU branch where they live and raise their families. ► And not least, TTCU reached $2 billion in assets, driven by the confidence of our members that we always will remember them, and where we came from. In 2020, we are rushing headlong into the future – rebuilding our technological infrastructure for better, smoother member service; embracing exciting new tools to help our members manage their financial lives; and pursuing expansion into new markets. But the inspiration behind the rush, always, is found in remembering where we came from.
▲ TTCU Sand Springs, 2020
Tim Lyons President/CEO
Dr. Clark Ogilvie Board Chairperson
M E S S A G E F R O M L E A D E R S H IP
▼ Tulsa Teachers Credit Union, 1956-1964
MESSAGE FROM LEADERSHIP “Remember where you came from.” It’s a solid piece of advice parents give their children. It’s meant to remind them not to lose sight of their beginnings while rushing headlong into the future; to find guidance from lessons of the past. It works for credit unions, too. While TTCU Federal Credit Union was achieving tremendous milestones in 2019, we also were carefully tending our roots and finding inspiration there. In November, TTCU celebrated 85 years of people helping people. Started in 1934 by a handful of teachers during the Great Depression, TTCU began life in the halls of Tulsa’s old Central High School as a way for teachers to get credit in order to make it through the hard times. Helping each other — our members — remains our purpose today. In 2019: ► TTCU received the distinguished national Juntos Avanzamos designation, bestowed on credit unions committed to serving Hispanic and immigrant communities through education and services that improve financial wellbeing. ► TTCU developed new share certificates designed to meet specific life stage needs of our members. ► We implemented a new program designed to nurture our new members, to properly welcome them and introduce them to all the ways we are here to help them live their best financial futures. ► We put finishing touches on our first branch in the Oklahoma City metropolitan area, bringing our member-centric philosophy and public education philanthropy to a new region. ► We broke ground on a new location in Sand Springs, answering the call of that community to build a TTCU branch where they live and raise their families. ► And not least, TTCU reached $2 billion in assets, driven by the confidence of our members that we always will remember them, and where we came from. In 2020, we are rushing headlong into the future – rebuilding our technological infrastructure for better, smoother member service; embracing exciting new tools to help our members manage their financial lives; and pursuing expansion into new markets. But the inspiration behind the rush, always, is found in remembering where we came from.
▲ TTCU Sand Springs, 2020
Tim Lyons President/CEO
Dr. Clark Ogilvie Board Chairperson
M E S S A G E F R O M L E A D E R S H IP
▼ Tulsa Teachers Credit Union, 1956-1964
60 School Pride® Visa Debit Cards are available, showcasing area schools
Like other cooperatives around the world, TTCU operates according to seven core principles and values. Founded on the philosophy of people helping people, these values are what sets us apart from other financial institutions.
1 2 3
Voluntary and Open Membership TTCU is a voluntary, not-forprofit organization offering services to our members. In 2019, TTCU welcomed 16,824 new members.
Democratic Member Control One member, one vote. As a member of TTCU, you have a vote in our future.
Members’ Economic Participation We return benefits to our members based on their economic participation in TTCU. In 2019, TTCU members earned $3.2 million from our Member Rewards program.
4
Autonomy and Independence TTCU is a self-help organization. Our focus is helping members achieve their financial goals.
5
Since 2008, TTCU has donated to nearly $ Oklahoma schools via the School Pride® Visa Debit Card program
1.4 million
Education, Training and Information TTCU was founded by teachers for teachers in 1934. We still honor that legacy today. We provide FoolProof, a free, online financial literacy program available to everyone. To date, more than 100,000 students have taken advantage of this financial tool.
6
2,263
In 2019, new credit cards were issued
Cooperation Among Cooperatives By working together through local, state, regional and national structures, TTCU embraces the belief of strength in numbers.
7
Concern for Community TTCU continues to be an active sponsor of United Way, financial literacy efforts and various educational initiatives.
1,256
Also, mortgage loans were approved and funded.
A new record!
“
Great people. Great practices. Great credit union! — Rebecca F., member since 2002
”
P R IN C IP L E S
SEVEN COOPERATIVE PRINCIPLES
60 School Pride® Visa Debit Cards are available, showcasing area schools
Like other cooperatives around the world, TTCU operates according to seven core principles and values. Founded on the philosophy of people helping people, these values are what sets us apart from other financial institutions.
1 2 3
Voluntary and Open Membership TTCU is a voluntary, not-forprofit organization offering services to our members. In 2019, TTCU welcomed 16,824 new members.
Democratic Member Control One member, one vote. As a member of TTCU, you have a vote in our future.
Members’ Economic Participation We return benefits to our members based on their economic participation in TTCU. In 2019, TTCU members earned $3.2 million from our Member Rewards program.
4
Autonomy and Independence TTCU is a self-help organization. Our focus is helping members achieve their financial goals.
5
Since 2008, TTCU has donated to nearly $ Oklahoma schools via the School Pride® Visa Debit Card program
1.4 million
Education, Training and Information TTCU was founded by teachers for teachers in 1934. We still honor that legacy today. We provide FoolProof, a free, online financial literacy program available to everyone. To date, more than 100,000 students have taken advantage of this financial tool.
6
2,263
In 2019, new credit cards were issued
Cooperation Among Cooperatives By working together through local, state, regional and national structures, TTCU embraces the belief of strength in numbers.
7
Concern for Community TTCU continues to be an active sponsor of United Way, financial literacy efforts and various educational initiatives.
1,256
Also, mortgage loans were approved and funded.
A new record!
“
Great people. Great practices. Great credit union! — Rebecca F., member since 2002
”
P R IN C IP L E S
SEVEN COOPERATIVE PRINCIPLES
Board of Directors
Senior Management
Dr. Clark Ogilvie
Tim Lyons
Steve Pittman
Shelby Beil
Saundra Ford
Chuck Chastain
Bobbie Allen Booker
Stephanie Jones
Chairperson
Vice Chair
Secretary / Treasurer
Andrew McKenzie George Paul Jack Pontious
President / CEO
Chief Financial & Technology Officer
Chief Sales & Operations Officer
Chief Strategy Officer
Celia Armstrong
Sr. Vice President of Human Resources
Jerry Hoopert
Supervisory Committee Dr. Steve Tiger Chairperson
Jesse Guardiola Kay Hamilton Ray Hatton, Jr. Wesley Mitchell
Emeritus Dr. Robert J. Nelson
“
◄ Photo credit: Tracie Gregory, TTCU Learning & Development Supervisor
I am really grateful for TTCU. You treat me like a person and not like a bank account. Thank you.
— Meredith F., member since 2014
”
Sr. Vice President of Facilities
Dan Newberry
Sr. Vice President of Lending
Liz Stidham
Sr. Vice President of Branch Operations
Andy Tripp
Sr. Vice President of Technology
Donita Quesnel
Vice President of Marketing
L E A D E R S H IP
LEADERSHIP
Board of Directors
Senior Management
Dr. Clark Ogilvie
Tim Lyons
Steve Pittman
Shelby Beil
Saundra Ford
Chuck Chastain
Bobbie Allen Booker
Stephanie Jones
Chairperson
Vice Chair
Secretary / Treasurer
Andrew McKenzie George Paul Jack Pontious
President / CEO
Chief Financial & Technology Officer
Chief Sales & Operations Officer
Chief Strategy Officer
Celia Armstrong
Sr. Vice President of Human Resources
Jerry Hoopert
Supervisory Committee Dr. Steve Tiger Chairperson
Jesse Guardiola Kay Hamilton Ray Hatton, Jr. Wesley Mitchell
Emeritus Dr. Robert J. Nelson
“
◄ Photo credit: Tracie Gregory, TTCU Learning & Development Supervisor
I am really grateful for TTCU. You treat me like a person and not like a bank account. Thank you.
— Meredith F., member since 2014
”
Sr. Vice President of Facilities
Dan Newberry
Sr. Vice President of Lending
Liz Stidham
Sr. Vice President of Branch Operations
Andy Tripp
Sr. Vice President of Technology
Donita Quesnel
Vice President of Marketing
L E A D E R S H IP
LEADERSHIP
Gross Loan Volumes
Credit Manager Report 2018
Year ended Dec. 31
2019
Difference
$600
(in millions)
2018
2019
(in millions) $1,817
$1,885
$2,020
Loans Outstanding
$1,242
$1,291
$1,293
Member Shares
$1,377
$1,386
$1,494
$234
$251
$277
Capital Capital Ratio Return on Assets Members Loans Granted Number of Branches
12.9%
13.3%
13.7%
1.0%
1.2%
0.9%
125,805
130,059
133,208
22,325
20,840
22,754
15
16
17
Year ended Dec. 31
2017
2018
2019
(in millions) Gross Income
$90.9
$97.7
$107.7
Dividends and Interest Paid*
14.3
18.1
24.1
Operating Expenditures
48.5
50.9
56.7
Provision for Loan Losses
10.6
6.9
9.4
$17.6
$21.8
$17.4
Less:
Net Income
$13.0
$25.5
$12.5
$274.0
$274.9
$0.9
$4.8
$6.3
$1.5
$123.5
$150.6
$27.1
$520.0
$567.1
$47.1
Mortgage Loans NCUA Well-Capitalized Ratio 7.0%
$3.0
$3.2
$300
$100 $0
2015
2016
2017
2018
2019
Member Rewards / Bonus Dividends
Total Assets
$3.5
$2,500
$3.0
Gross Loan Volumes (in millions)
2016
$520 $550
$2,000 $1,500 $1,000
$0
2017
$516
2018
$520
2019
$567
$2.5 $2.0 $1.5 $1.0
$500
$0.5 2017
2018
2019
$0.0
2017
2018
2019
Capital Ratio
Return on Assets 1.2%
15%
1.0%
12%
0.8%
9%
0.6%
6%
0.4%
$2.8
$400
$200
Construction Loans
*Includes Member Rewards
Member Reward Dividends
$5.1
Dealer Pointof-Sale Loans
13.7%
2015
Operating Results
$109.8
Credit Card Lines TTCU Capital Ratio
Assets
$104.7
in millions
2017
Branch Loans
in millions
Year ended Dec. 31
$500 in millions
Total Assets
Financial Highlights
F IN A N C IA L S
FINANCIALS
▼ TTCU employees participate in the American Heart Association Heart Walk.
3%
0.2% 0.0%
2017
2018
“
2019
0%
TTCU Capital Ratio
TTCU has been a blessing to me. — Calvin B., member since 2010
NCUA Well-Capitalized Ratio
”
Gross Loan Volumes
Credit Manager Report 2018
Year ended Dec. 31
2019
Difference
$600
(in millions)
2018
2019
(in millions) $1,817
$1,885
$2,020
Loans Outstanding
$1,242
$1,291
$1,293
Member Shares
$1,377
$1,386
$1,494
$234
$251
$277
Capital Capital Ratio Return on Assets Members Loans Granted Number of Branches
12.9%
13.3%
13.7%
1.0%
1.2%
0.9%
125,805
130,059
133,208
22,325
20,840
22,754
15
16
17
Year ended Dec. 31
2017
2018
2019
(in millions) Gross Income
$90.9
$97.7
$107.7
Dividends and Interest Paid*
14.3
18.1
24.1
Operating Expenditures
48.5
50.9
56.7
Provision for Loan Losses
10.6
6.9
9.4
$17.6
$21.8
$17.4
Less:
Net Income
$13.0
$25.5
$12.5
$274.0
$274.9
$0.9
$4.8
$6.3
$1.5
$123.5
$150.6
$27.1
$520.0
$567.1
$47.1
Mortgage Loans NCUA Well-Capitalized Ratio 7.0%
$3.0
$3.2
$300
$100 $0
2015
2016
2017
2018
2019
Member Rewards / Bonus Dividends
Total Assets
$3.5
$2,500
$3.0
Gross Loan Volumes (in millions)
2016
$520 $550
$2,000 $1,500 $1,000
$0
2017
$516
2018
$520
2019
$567
$2.5 $2.0 $1.5 $1.0
$500
$0.5 2017
2018
2019
$0.0
2017
2018
2019
Capital Ratio
Return on Assets 1.2%
15%
1.0%
12%
0.8%
9%
0.6%
6%
0.4%
$2.8
$400
$200
Construction Loans
*Includes Member Rewards
Member Reward Dividends
$5.1
Dealer Pointof-Sale Loans
13.7%
2015
Operating Results
$109.8
Credit Card Lines TTCU Capital Ratio
Assets
$104.7
in millions
2017
Branch Loans
in millions
Year ended Dec. 31
$500 in millions
Total Assets
Financial Highlights
F IN A N C IA L S
FINANCIALS
▼ TTCU employees participate in the American Heart Association Heart Walk.
3%
0.2% 0.0%
2017
2018
“
2019
0%
TTCU Capital Ratio
TTCU has been a blessing to me. — Calvin B., member since 2010
NCUA Well-Capitalized Ratio
”
Community is the feeling of fellowship with others who share the same interests and goals. Founded in 1934 by educators working together, we’ve had a sense of community from the beginning. For more than 85 years, we’ve shared our community with our members. They are our neighbors and our friends. Our kids go to the same schools; we attend the same churches. You’ll find us in the local parade. Because of this, concern for community is one of our most dearly held principles.
▲ Everyone loves a parade! TTCU employees (and their furry friend) participate in the Jenks Christmas Parade. In addition to Christmas parades, you'll find us at the American Heart Association Heart Walk, Rooster Days and the Azalea Festival. We love seeing communities turn out to support their hometowns.
▼ Each summer, TTCU volunteers gather to participate in Kids’ Fishing Day. This annual event has become a beloved TTCU tradition. Putting more than 600 fishing poles into the hands of area children is a rewarding way to spend a Saturday.
▲ Every fall, our employees fan out across Oklahoma to welcome educators and support staff back to school. It's a small way to honor our roots and pay tribute to those who came before us.
▼ TTCU employees honor local firefighters on Patriot Day.
▲ For the fourth consecutive year, TTCU was named a Tulsa Area United Way Trailblazer. Working together with members of the community, TTCU volunteers spent United Way Day of Caring at the W.L. Hutcherson Family YMCA. The day was spent landscaping, cleaning and painting — making the facility a welcoming presence for the neighborhood.
C O M M U N IT Y
COMMUNITY
Community is the feeling of fellowship with others who share the same interests and goals. Founded in 1934 by educators working together, we’ve had a sense of community from the beginning. For more than 85 years, we’ve shared our community with our members. They are our neighbors and our friends. Our kids go to the same schools; we attend the same churches. You’ll find us in the local parade. Because of this, concern for community is one of our most dearly held principles.
▲ Everyone loves a parade! TTCU employees (and their furry friend) participate in the Jenks Christmas Parade. In addition to Christmas parades, you'll find us at the American Heart Association Heart Walk, Rooster Days and the Azalea Festival. We love seeing communities turn out to support their hometowns.
▼ Each summer, TTCU volunteers gather to participate in Kids’ Fishing Day. This annual event has become a beloved TTCU tradition. Putting more than 600 fishing poles into the hands of area children is a rewarding way to spend a Saturday.
▲ Every fall, our employees fan out across Oklahoma to welcome educators and support staff back to school. It's a small way to honor our roots and pay tribute to those who came before us.
▼ TTCU employees honor local firefighters on Patriot Day.
▲ For the fourth consecutive year, TTCU was named a Tulsa Area United Way Trailblazer. Working together with members of the community, TTCU volunteers spent United Way Day of Caring at the W.L. Hutcherson Family YMCA. The day was spent landscaping, cleaning and painting — making the facility a welcoming presence for the neighborhood.
C O M M U N IT Y
COMMUNITY
LOCATIONS CORPORATE OFFICE 9815 E. 81st St. Tulsa, OK 74133 ONLINE SERVICES www.ttcu.com TELEPHONE 918.749.TTCU (8828) 1.800.234.TTCU (8828)
Tulsa Area
Northeast Oklahoma
DOWNTOWN 501 S. Boston, Ste. 103
BIXBY 13475 S. Memorial Dr.
EASTLAND 14501 E. 21st St.
BROKEN ARROW NORTH 1050 N. 20th St.
MIDTOWN 3720 E. 31st St.
BROKEN ARROW SOUTH 6410 S. Elm Pl.
NORTH POINTE 140 E. Pine
CLAREMORE 1800 S. Hwy. 66
RIVERSIDE 7155 S. Riverside Pkwy.
JENKS 105 S. 9th St.
SOUTHEAST 10081 E. 81st St.
MIAMI 303 Goodrich Blvd. MUSKOGEE 3801 W. Okmulgee
OKC Area
OWASSO 11725 E. 96th St. N.
QUAIL SPRINGS 15104 N. Pennsylvania Ave.
SAPULPA 100 S. Mission SAND SPRINGS* 202 S. Main St. TAHLEQUAH 778 E. 4th St.
*coming in 2020
Federally insured by NCUA