Question 1

What is Truity Credit Union?

Accepted Answer

Truity Credit Union is a federally chartered credit union headquartered in Bartlesville, Oklahoma. With over 74,000 members and more than $1.2 billion in assets, Truity serves communities across Oklahoma, Kansas, and Texas through nine branch locations. Originally founded to serve employees of Phillips Petroleum Company (now Phillips 66), the credit union has expanded its membership to include employees of partner organizations and their family members. Truity is recognized for its community involvement and award-winning member service, having been named Best Credit Union in both Bartlesville and Lawrence, Kansas.

Question 2

When was Truity Credit Union founded?

Accepted Answer

Truity Credit Union was founded in April 1939 as Jane Phillips Sorority Credit Union. The credit union was established by 137 members of the Jane Phillips Sorority, an organization of female employees of Phillips Petroleum Company in Bartlesville, Oklahoma. The institution was created during a time when women faced significant barriers to financial services and could rarely obtain loans independently.

Jane Phillips, the wife of oil tycoon Frank Phillips (co-founder of Phillips Petroleum Company), led the effort to form this financial cooperative. In just six months after opening, the founding members jointly saved $425, demonstrating the immediate need for such an institution.

In 1941, due to increased demand from employees, the credit union changed its name from Jane Phillips Sorority Credit Union to 66 Federal Credit Union. The bylaws were amended to accommodate all employees of Phillips 66, expanding beyond its original female-only membership. In 2013, the credit union rebranded to Truity Credit Union, a name derived from the words "trust" and "integrity," to create a unified identity for all its services and locations.

Question 3

Where is Truity Credit Union headquartered?

Accepted Answer

Truity Credit Union is headquartered in Bartlesville, Oklahoma, at 501 S Johnstone Avenue. The headquarters building is located in the 500 block of S Johnstone Avenue in downtown Bartlesville. In 1977, a new building was constructed at 4th and Keeler in Bartlesville to make credit union services more accessible to members, marking an important milestone in the institution's physical expansion.

Question 4

Where does Truity Credit Union operate?

Accepted Answer

Truity Credit Union operates across three states through nine branch locations in four primary markets: Bartlesville, Oklahoma; Lawrence and Olathe, Kansas; and Houston, Texas.

The credit union's presence in these markets reflects its historical connection to Phillips 66 and strategic expansion over the decades. In 1990, Truity acquired the Kansas University Credit Union in Lawrence, Kansas, establishing a strong presence in that market. The credit union later expanded into Texas, opening its first Houston branch in the ConocoPhillips metroplex, followed by a branch in Bellaire, Texas.

Most recently, Truity opened new branches in Lawrence, Kansas in August 2023 and Olathe, Kansas in November 2023, expanding its footprint in Johnson County and surrounding areas. Members can also access services at Shared Service Centers nationwide and through thousands of fee-free ATMs. Additionally, Truity serves members in nearby Oklahoma communities including Dewey, Nowata, and Pawhuska.

Question 5

What services does Truity Credit Union offer?

Accepted Answer

Truity Credit Union offers a comprehensive range of financial products and services to meet diverse member needs.

Deposit Accounts: Multiple checking account options including Essential Checking (free), Preferred Checking (with rewards and ATM fee reimbursements), and Advantage Checking (premium tier with higher dividend rates up to 5.00% APY on balances up to $5,000). Savings accounts and share certificates are also available, with all deposits federally insured up to $250,000 by the NCUA.

Loan Products: Auto loans for new and used vehicles with rates starting as low as 5.74% APR, personal loans, recreational vehicle loans for RVs and boats, mortgage loans (conventional, FHA, VA, USDA) with terms ranging from 10 to 30 years, home equity lines of credit, and signature loans. Members with qualifying checking accounts receive a 0.25% discount on eligible loans.

Credit Cards: VISA credit cards with rewards programs, including Platinum Rewards (1-2 points per dollar) and Signature Rewards (2-3 points per dollar depending on account tier). Members can also choose Spirit Cards that support local schools and charities with each transaction.

Digital Banking: Mobile banking app (TruityCU) available for iOS and Android devices with features including mobile check deposit, account aggregation from other institutions, bill pay, peer-to-peer payments, card freezing capabilities, transaction tagging with receipt photos, balance alerts, and statement access. Online banking platform with early direct deposit (up to two days before scheduled deposit date).

Additional Services: Line of credit accounts, Skip-A-Pay program, overdraft protection, SaveUp automatic savings program (rounds up debit card purchases to the nearest dollar), Greenlight SELECT plan for youth financial education at no cost to members, identity theft recovery services, credit and dark web monitoring, and mobile phone coverage protection (up to $500 per claim).

Question 6

What makes Truity Credit Union unique?

Accepted Answer

Truity Credit Union distinguishes itself through several unique characteristics and member benefits.

Historical Significance: Truity's founding story as Jane Phillips Sorority Credit Union represents a pioneering moment in women's financial empowerment. In 1939, when women faced severe restrictions in accessing financial services, the 137 founding members created their own institution to achieve financial independence.

Community Spirit Cards: Truity offers customized debit cards that support local schools, charities, and organizations with each swipe. Members can choose cards supporting institutions like Lawrence High School, University of Kansas, Dewey Public Schools, Pawhuska Public Schools, Tri County Tech, and Woolaroc Museum & Wildlife Preserve.

Award-Winning Service: The credit union has been recognized as Best Credit Union and Best Place to Work in both Bartlesville and Lawrence. This recognition reflects Truity's commitment to member experience and employee satisfaction.

Competitive Checking Account Features: Truity was the first financial institution in Bartlesville to offer VISA debit cards in 1994. Today, members enjoy free checking accounts with no minimum balance requirements, ATM fee reimbursements (up to $20 monthly on qualifying accounts), and high-yield checking options with up to 5.00% APY on balances.

Local Market Focus: Despite its expansion across three states, Truity maintains deep roots in each community it serves, with branch managers actively involved in local organizations and events.

Member-Owned Structure: As a not-for-profit cooperative, Truity reinvests profits back into member benefits through lower loan rates, higher savings rates, and fewer fees compared to traditional banks.

Question 7

What type of financial institution is Truity Credit Union?

Accepted Answer

Truity Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA) under Charter Number 3130. The institution operates as a member-owned financial cooperative, meaning all members are also owners with equal voting rights regardless of account balance.

Membership Eligibility: Membership is available to employees of partner organizations (Community Partners), immediate family members of current Truity members (including spouses, children, parents, siblings, grandchildren, grandparents, stepchildren, stepparents, and adoptive parents), and persons living in the same residence maintaining a single economic unit with a member.

Cooperative Structure: Unlike traditional banks that operate for shareholder profit, Truity exists solely to serve its members' financial interests. This cooperative structure allows the credit union to offer more favorable rates and terms because profits are returned to members through competitive loan rates, higher dividend rates on deposits, and enhanced services rather than being distributed to external shareholders.

Federal Insurance: All member deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA) and backed by the full faith and credit of the United States Government.

NMLS License: Truity Federal Credit Union operates under NMLS Institution ID #619450 for its mortgage lending activities, ensuring compliance with federal mortgage regulations.

Question 8

What expansion has Truity Credit Union experienced?

Accepted Answer

Truity Credit Union has grown strategically from a single-location institution serving female employees of Phillips Petroleum Company to a multi-state financial institution with nine branches across three states.

Early Expansion (1941-1977): The credit union's first major expansion came in 1941 when membership opened to all Phillips 66 employees, not just female employees. In 1977, bylaws were amended to include daughters-in-law, sons-in-law, and grandchildren of members, expanding the field of membership through family association. The charter was also amended to offer services to Phillips 66 employees worldwide.

Product Innovation (1986-1994): During the mid-1980s interest rate deregulation, Truity introduced the 66 VISA Credit Card Program and Equity Line of Credit, resulting in over 3,200 card signups in one year. In 1994, Truity became the first financial institution in Bartlesville to offer VISA debit cards.

Geographic Expansion (1990-Present): The acquisition of Kansas University Credit Union in Lawrence, Kansas in 1990 opened the door to expansion beyond Oklahoma. Subsequently, branches were established in Houston and Bellaire, Texas to serve Phillips 66 employees in that region. The most recent expansion includes new branches in Lawrence (August 2023) and Olathe, Kansas (November 2023), positioning Truity for continued growth in the Kansas City metropolitan area.

Asset Growth: From modest beginnings with $425 in savings in 1939, Truity now manages over $1.2 billion in total assets and serves more than 74,000 members, representing significant 10.7% asset growth and 3.7% membership growth over the past year.

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