OK SB1623

Requires the Oklahoma State Credit Union Board to exercise powers in a manner ensuring a competitive state credit union charter, including allowing state-chartered credit unions at least as much lending flexibility as federally chartered credit unions

Increases the investment limit for credit union service organizations from 1% to 3% of unimpaired capital and surplus

Prohibits the Board from considering membership overlap when approving proposed fields of membership for state-chartered credit unions

Permits credit unions to add any category of associations preapproved by the National Credit Union Administration, including underserved areas

Allows boards of directors and members of credit and supervisory committees to receive compensation for services, with such compensation required to be disclosed annually to membership