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Article: FIRST CREDIT UNION STARTED IN STATE WAS AN EXPERIMENT

Article from:
THE JOURNAL RECORD
Article date:
April 20, 1989
Author:
Copyright

The first recorded credit union in Oklahoma was organized in 1923 in Tulsa. Ten years later in 1933 the Oklahoma Legislature passed legislation regulating and governing credit unions. That legislation allowed any seven or more Oklahomans to form a credit union.

The Tulsa Postal Employees' Credit Union was organized in 1923 as an experiment. Research of Oklahoma laws showed no law against organizing a credit union, so the Tulsa credit union was formed to determine if a credit union could function effectively without a law directly supporting it.

Also before the enabling state legislation, large companies operating in the state formed credit unions, including Wilson Packing Co., ...

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