A Message from the President
Members First Federal Credit Union was chartered in 1951 as a Safeway Credit Union. In 1998 the Board of Directors made a business decision to apply to the National Credit Union Administration for a community charter to serve the East Central High School District. The charter was granted in late 1998 to enable the credit union to serve the "East Tulsa Community."
In 2001, we expanded our field of membership to extend south to 61st and Mingo Road, west to downtown Tulsa, north to 66th Street and east to 193rd E. Ave. Check our boundaries map at "how to join" to see if you are eligible or call us at (918) 663-2050.
Founded on the basic premise of the cooperative movement, credit unions, like OK Members First Federal Credit Union, believe that access to low-cost financial services is critical to the health and stability of ordinary citizens. In fact, nearly 80 million Americans trust that their credit union will provide the services to improve their financial well being. OK Members First Federal Credit Union members enjoy a host of benefits. Services offered range from simple savings to home equity loans to IRAs. Study after study has revealed that on average, credit unions provide the best financial offerings with fewer fees, lower rates on loans and higher returns on savings than traditional banking institutions. And credit unions continually score higher than all other financial institutions in consumer satisfaction surveys. OK Members First strives to deliver the best possible service to its most important asset -- its members.
Regulation & Supervision
Members First Federal Credit Union was chartered under federal law in 1951. Federally chartered credit unions are regulated by the National Credit Union Administration (NCUA), an independent agency of the U.S. Government. NCUA's three board members are nominated by the President and confirmed by the Senate.
State chartered credit unions are regulated by their state credit union department. NCUA administers the federal insurance fund, NCUSIF, which covers all federal credit unions, and most state chartered credit unions. No taxpayer money is used for regulating and overseeing federal credit unions, as all activities of NCUA and the NCUSIF are funded by credit unions.