Bank Commissioner Mick Thompson announced this week that the Oklahoma State Credit Union Board approved a 30% discount in the assessments collected from Oklahoma state-chartered credit unions.  The approval came during the Board’s last meeting of the year and is based on the Commissioner’s budget estimates for 2026.  The Commissioner stated that the Banking Department’s goal is to operate on a “break even” budget and when funds are not needed to operate the Department, that money should remain with the credit unions to support member services. 

This year’s reduction will allow the Department to fully fund credit union supervision while also reducing regulatory burden on state-chartered institutions.  He recognized that most regulatory matters are issued from the federal government and that the states cannot directly eliminate that burden.  However, he stated that any savings achieved by a reduction in assessments can be redirected by the credit unions toward other expenses and member services. 

Pictured above: Gina Wilson, Oklahoma Central Credit Union; Commissioner Mick Thompson; Cindy White, Oklahoma Educators Credit Union; Deputy Commissioner Dudley Gilbert; and Steve Rasmussen, Lay Member. Not pictured: Tyrel McCain, Credit Union One of Oklahoma