Oklahoma: Landlocked Sooners Insulated from Coastal Volatility
But thankfully for credit unions in the Sooner State, the highs and lows of the real estate market felt elsewhere isn’t part of that mix.
Charge offs and delinquent loans have each run around 1% so far this year, a reflection of First Family’s low-income status and the challenges that come with serving low-income communities. In Oklahoma, Dykes said that includes the lure of casino gambling; the World Casino Directory ranks Oklahoma the #5 state in the country for the number of casinos, with 86.
Expansion has also cut into First Family’s ROAA, as the credit union prepares to open its third branch. Branch employees have been training in the main office for the past few months without having the financial offset of branch income.