January 24, 2020

Riverside Branch Closure


Tulsa Federal Credit Union leadership, along with the Board of Directors, have made the difficult decision to permanently close our Riverside branch, located on the Riverside Parkway. The last day of business at this location will be January 31, 2020.

Over the past five years, we’ve seen a steady decline in transaction volume at this branch. We attribute the decline to the inaccessible location of the branch and our members’ increased use of technology to handle their banking needs.

Financially, Tulsa FCU remains strong as we approach $776 million in assets with more than 56,300 members. Current employees of the Riverside branch will be relocated to continue providing exceptional service at one of our 13 other locations. Members who use the Riverside branch regularly have already been contacted with complete details of the closure and connected to nearby Tulsa FCU locations that will serve their needs.

In addition, the drive-up ATM at the Riverside branch will remain available 24/7 to process cash and check deposits, handle cash withdrawals, and make transfers.

As always, our Member CARE Center is available at 918.610.0200, Monday through Thursday, 8:00 am to 5:30 pm, and Friday, 8:00 am to 6:00 pm. 

For more details, check the Frequently Asked Questions below.

FAQs

Q: Why is the branch closing? 

  • It is our Executive Leadership Team and Board of Director’s responsibility to proactively manage our operational expenses.
  • Transaction volume and loan production at the Riverside branch has declined substantially over the past five years. 
  • We attribute the decline to the branch’s out-of-the-way and sometimes difficult to access location and our members’ increased use of our online, phone, or ATM-based banking solutions.  
  • With the decrease in transaction volume and loan production, the cost of operating the branch at full capacity has become unfeasible. So, it is in the best interest of the credit union as a whole to pro-actively control our expenses by eliminating operational inefficiencies. 

Q: When is the branch closing?

  • The last day of operations for the branch will be Friday, January 31, 2020. 

STATE OF THE CREDIT UNION

Q: What does this mean for Tulsa Federal Credit Union as a whole?

  • Financially, Tulsa FCU remains strong as we approach $776 million in assets. We have more than 56,300 members. However, when weighing the feasibility of maintaining this location, we believe it is in the best interest of the members and credit union as a whole to pro-actively control our expenses by eliminating operational inefficiencies. 

TRANSACTION RELATED

Q: How can I conduct transactions?

  • Here is a list of nearby locations where you can conduct transactions.

Riverside Drive-Up ATM Open 24/7
(0 miles away)
Deposit cash/checks, make withdrawals, or transfer funds at the ATM any time.

CO-OP Shared Branching
(0.5 miles away)
Members can bank at any CO-OP branch nationwide. Learn more or find a location.

Sheridan Branch
(4 miles away)
Find other branch locations in your area.

Call Member CARE Center
918.610.0200
Monday to Thursday: 8:00 a.m. – 5:30 p.m.
Friday: 8:00 a.m. – 6:00 pm.

Anywhere, Anytime Options

Online Banking
Schedule transfers, pay bills, and manage money easier. Learn more.

Mobile Banking
Deposit checks, send money, and more from your phone.

24-Hour Bank by Phone
918.610.8332
Check balances, make transfers, and set up text alerts.

Q: My social security (other direct deposit) go to that branch for my account. What happens to my check?

  • There are no changes to your direct deposit. The deposit comes to the Credit Union payments department, not the branch itself. Your deposit will processed in the same fashion it always has.   

EMPLOYEE RELATED

Q: What is happening to the employees of the branch?

  • The Employees have been relocated to one of our other 13 locations. 

Q: Will I still be able to work with the employees I know and trust?

  • Each employee at the Riverside branch should know where they will be relocated. You may ask them directly, or once the branch has closed, we can direct you to their newest location.  

SAFE DEPOSIT BOXES

Q: I have a safe deposit box at the Riverside branch.  Can I move my contents to other location? 

  • Yes. When you go to the Riverside branch to retrieve your belongings, a member service specialist at the branch can help you arrange another safe deposit box of comparable size at an alternative Tulsa FCU location. 

Q: What will happen to the money I have already paid for my Safe Deposit Box?

  • Once you personally remove your contents from the Riverside branch, we will refund the remaining prorated amount.
  • If you decide to relocate your contents to another branch location, with a safe deposit box, we will reinstate your safe deposit box rental agreement and your payment will be used to cover the new box. 

Q: What will happen to my stuff if I do not remove my contents from my safe deposit box before January 31,2020?

  • Any unclaimed boxes after Friday, January 31, 2020 will be drilled, inventoried and relocated to the Tulsa FCU Main branch located at 9323 East 21st Street, Tulsa, OK 74129.  
  • Per Oklahoma law, any unclaimed property must be turned over to the state after five years of the close date.