A Message From Our President
Dear Valued Member,
As we enter our 77th year of doing business in Oklahoma as a not-for-profit, member-owned financial cooperative, I am incredibly appreciative that you trust True Sky with your financial health. We are a safe, sound, and reliable financial institution and our focus remains on providing our more than 56,000 members with proven stability regardless of what is happening in financial markets or the world.
Recent headlines about bank failures have caught many people’s attention and it is understandable, that you may have some questions about how this impacts you. Rest assured that True Sky operates much differently than these banks. Our focus is on our members’ deposits and products they need, not venture capital or high-risk tech companies. We are rated “well capitalized” by the NCUA, the highest rating you can achieve.
Our mission, since our inception in 1946, has always been to invest in you, our members, and communities. In fact, the majority of our “investments” is in loans to our members totaling 84.6% of our deposits. As you can see, we put our trust in our membership. We have been through the toughest times in our country’s recent history such as the 2008 Mortgage Crisis, 2020 Pandemic, and others. Our members have seen us through all these events, and we are the strongest we’ve been in our history.
Your deposits are federally insured by the National Credit Union Administration (NCUA) up to $250,000. Additionally, many of our members’ deposits are insured beyond the $250,000 guarantee. For more information about NCUA insurance coverage, please visit MyCreditUnion.gov. Credit union members have never lost a penny of insured savings at a Federal credit union.
As one of the oldest credit unions in Oklahoma, we take the trust you place in us seriously and, we will never let you down. We will continue to invest our members’ money in you, the members. Together we have built a strong organization that ensures both the present and future financial health of our member owners. If you have any questions, please don’t hesitate to contact me at (405) 682-1990 extension 1022. We are here to serve you.
Sincerely,
Sean M. Cahill
President & CEO
True Sky Federal Credit Union
