Oklahoma.gov



MINUTES OF THE REGULAR MEETING

OF THE STATE CREDIT UNION BOARD

November 19, 2019

First item in order of business: The Credit Union Board meeting was called to order at 10:00 a.m. pursuant to the agenda that was posted for public display prior to 10:00 a.m. on November 15, 2019. Notice of the meeting was also made available to the Secretary of State, and to those interested parties who have requested individual notice, pursuant to Title 25 O.S. § 311 (the Open Meeting Act). The meeting was held in the conference room of the Oklahoma State Banking Department, 2900 N. Lincoln Boulevard, Oklahoma City, Oklahoma.

Second Item: Roll call - the following members were present:

Jason Boesch

Eddie Foreman

Mark Kelly

Johnny O’Hare

Mick Thompson, Chairman

The Chairman declared a quorum present.

Attending for the Department: Dudley Gilbert, Deputy Commissioner; Steven Hawkins, Budget Director; Regina Rainey, Chief of Staff; Wayne Arbuthnot, Assistant Deputy Commissioner; Paul Qualls, Director of Examinations; and Angela Morris, Administrative Assistant.

Third Item: Approval of minutes of the meeting held December 4, 2018.

Commissioner Thompson asked for any changes or additions to the minutes from the Board.

Eddie Foreman made a motion to accept the minutes as written.

Mark Kelly seconded the motion, which was approved as follows:

Jason Boesch: voted yes

Eddie Foreman: voted yes

Mark Kelly: voted yes

Johnny O’Hare: abstained

Mick Thompson: voted yes

Fourth Item: Commissioner’s Reports:

a) Department Status Report:

Commissioner Thompson discussed the Department receiving its 6th Accreditation from CSBS. The Accreditation process is held every 5 years.

He then provided an update on the progress of the building annex project. He said once the examiners move to the annex, the spaces they used will be turned into six office spaces. The Department is also considering whether it is feasible to build an office in Tulsa instead of renting.

Commissioner Thompson asked Board members if they have any changes to the proposed 2020 Board Meeting dates. There were no changes recommended.

Commissioner Thompson said the Department’s Annual Report to the Governor is on the Department’s website.

Commissioner Thompson gave Board members a copy of information prepared by Matt Mowdy, Legal Counsel, regarding the legal status of hemp.

Commissioner Thompson recognized and thanked Gina Wilson for her service as a Credit Union Board member.

b) Examination Report:

During the third quarter of 2019 one credit union examination was completed. There is one credit union scheduled for examination during the 4th quarter of 2019. Three examiners attended SW BSA & Financial Crimes Forum; one examiner attended FDIC Loan Analysis School.

Dudley Gilbert discussed the Alternating Examination Pilot Program that began in 2019. He said the Department has been alternating exams with the NCUA with no issues.

Dudley Gilbert said he recently met with the NCUA regarding the examination schedule for 2020. He stated that there will only be nine state-chartered credit unions examined in 2020 (four state exams, four NCUA exams, and one joint exam).

c) Legislative Report:

Regina Rainey reported that the bill request deadline is December 16 and the bill filing deadline is January 16. The Department does not plan to request changes to Title 6 during the 2020 legislative session.

Regina Rainey mentioned the first accreditation for the Department was in 1994.

Chairman Thompson discussed the Governor’s initiative regarding consolidating similar agencies. He also discussed the Governor’s interest in changing the method by which new members are appointed to agency boards – including the Credit Union Board. He stated that the Governor wants to make appointments from the industry but does not want to have to pick the candidate from a list provided by industry trade associations.

Fifth Item: Consideration and prescription of the rate of credit union assessments for Oklahoma chartered credit unions existing as of December 31, 2019, calculated on institution assets as of December 31, 2019, pursuant to Title 6 O.S. § 2001.2 and O.A.C. 180:10-1-14.

Commissioner Thompson discussed the Department’s Expenditure Summary and Revenue Report. He also provided a slide presentation that included a history of the Department’s assessment rates and the amount the assessments have been reduced over the past several years. He discussed three proposals for setting assessment rates and explained the impact of each proposal. He stated that the Board could select among the Department’s proposed plans or fashion an assessment plan of its own.

Steven Hawkins, Budget Director, discussed the impact of each rate proposal on the Department’s budget.

After discussion by Board members regarding the Department’s financial condition and the proposed assessment rates, Member Forman made a motion to set the assessment rates for credit unions as follows:

a. 15¢ per $1,000 of assets for credit unions with $35 million or less in assets, and

b. 18¢ per $1,000 of assets for credit unions with more than $35 million in assets.

and that the Commissioner is directed to reduce the total collected assessment by 15% for each credit union.

Member Kelly seconded the motion and the motion was approved as follows:

Jason Boesch: voted yes

Eddie Foreman: voted yes

Mark Kelly: voted yes

Johnny O’Hare: voted yes

Mick Thompson: voted yes

Member O’Hare thanked the Department for doing a great job and is looking forward to future meetings.

Seventh Item: Adjournment

Member Boesch made a motion to adjourn. Member Foreman seconded the motion and the motion was approved as follows:

Jason Boesch: voted yes

Eddie Foreman: voted yes

Mark Kelly: voted yes

Johnny O’Hare: voted yes

Mick Thompson: voted yes

The meeting was adjourned at 10:55 p.m.

Mick Thompson Jason Boesch

Johnny O’Hare Mark Kelly

Eddie Foreman

................
................

In order to avoid copyright disputes, this page is only a partial summary.

Google Online Preview   Download