Question 1

What is Growing Oaks Federal Credit Union (Growing Oaks FCU)?

Accepted Answer

Growing Oaks Federal Credit Union (Growing Oaks FCU) is a community-chartered federal credit union headquartered in Goldsby, Oklahoma. As a member-owned, not-for-profit financial cooperative, Growing Oaks serves residents, workers, students, and businesses across four counties in central Oklahoma. With approximately 468 members and $3.9 million in assets as of Q3 2025, Growing Oaks is a small but growing institution focused on promoting financial inclusion, independence, and community participation.

The credit union emphasizes a member-first philosophy, offering products and services designed with members' best interests in mind rather than unnecessary upselling.

Question 2

When was Growing Oaks Federal Credit Union (Growing Oaks FCU) founded?

Accepted Answer

Growing Oaks Federal Credit Union received its federal charter from the National Credit Union Administration (NCUA) on August 7, 2020. The charter was officially announced on August 18, 2020, with operations beginning in December 2020.

Growing Oaks FCU holds the distinction of being the first federal credit union chartered in 2020. NCUA Chairman Rodney E. Hood praised the organizers at the time, stating: "It is always inspiring to see people in a community come together to create affordable financial opportunities for their neighbors and their local economy."

The credit union was founded with a mission to promote financial inclusion and help members build greater financial security for themselves and their families.

Question 3

Where is Growing Oaks Federal Credit Union (Growing Oaks FCU) headquartered?

Accepted Answer

Growing Oaks Federal Credit Union is headquartered at 299 Industrial Boulevard in Goldsby, Oklahoma 73093.

Question 4

Where does Growing Oaks Federal Credit Union (Growing Oaks FCU) operate?

Accepted Answer

Growing Oaks Federal Credit Union serves a community field of membership encompassing four counties in central Oklahoma: Canadian County, Cleveland County, McClain County, and Oklahoma County.

Membership eligibility extends to anyone who lives, works, worships, or attends school in these four counties, as well as businesses and other legal entities located within this service area. The credit union also serves immediate family members or household members of existing members, spouses of deceased members, Growing Oaks employees, and community volunteers.

With a potential membership base of over 1.3 million people across these counties, Growing Oaks has significant room for growth from its current membership of approximately 468 members.

Question 5

What services does Growing Oaks Federal Credit Union (Growing Oaks FCU) offer?

Accepted Answer

Growing Oaks Federal Credit Union offers a comprehensive suite of financial products and services designed to help members achieve lasting financial success:

Deposit and Savings Accounts:
• Checking accounts (share draft accounts)
• Share (savings) accounts
• Share certificates (term deposits)
• Individual Retirement Accounts (IRAs)

Lending Services:
• Auto loans for used and new vehicles
• Personal loans and consumer signature loans
• Cash-secured loans

Digital Banking Tools:
• Mobile banking app
• Online bill pay services
• Debit card access
• ATM services
• Wire transfer services
• Electronic transaction services

The credit union initially focused on consumer signature loans and used automobile loans during its first year of operations, with plans to expand into home mortgage lending in future years.

Question 6

What makes Growing Oaks Federal Credit Union (Growing Oaks FCU) unique?

Accepted Answer

Growing Oaks Federal Credit Union distinguishes itself through several unique characteristics:

Financial Education Commitment: All members have free access to Elevation Station, a comprehensive financial wellness resource featuring classes, budget tools, and coaching designed to empower members to build a positive money mindset and achieve a debt-free future. This educational platform reflects the credit union's commitment to long-term member financial health.

Low-Income Designation: Growing Oaks holds a low-income designation from the NCUA, reflecting its mission to serve underserved communities and promote financial inclusion among populations that may face barriers to traditional banking services.

Member-Centric Philosophy: The credit union explicitly emphasizes that members won't be "sold on unnecessary services" they don't need, with all products offered with members' best interests as the priority.

Strong Growth Trajectory: Despite being chartered in 2020, Growing Oaks has demonstrated impressive growth metrics, with four-quarter growth rates of 33.96% in total assets, 43.73% in total loans, and 16.71% in membership as of Q3 2025.

Community-Focused Mission: Founded specifically to create affordable financial opportunities for local neighbors and strengthen the local economy, Growing Oaks embodies the credit union philosophy that members are owners, not just customers.

Question 7

What type of financial institution is Growing Oaks Federal Credit Union (Growing Oaks FCU)?

Accepted Answer

Growing Oaks Federal Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). As a federal credit union, it operates under federal regulations and holds federal deposit insurance through the National Credit Union Share Insurance Fund (NCUSIF), which insures member deposits up to $250,000.

Growing Oaks is structured as a community credit union, meaning membership eligibility is based on geographic criteria—specifically, living, working, worshiping, or attending school in Canadian, Cleveland, McClain, and Oklahoma counties in Oklahoma.

As a member-owned cooperative, Growing Oaks operates on a not-for-profit basis. Unlike traditional banks with external shareholders, credit union members are the shareholders. This structure allows profits to be returned to members through better rates, lower fees, and enhanced services rather than distributed to outside investors.

Each member has equal voting rights in the credit union's governance, embodying the credit union principle of democratic control.

Growing Oaks Federal Credit Union (Growing Oaks FCU)

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About Growing Oaks Federal Credit Union (Growing Oaks FCU) in the United States