Cherokee Strip Credit Union

What Cherokee Strip Credit Union does

Cherokee Strip Credit Union (CSCU) is a member-owned, not-for-profit financial cooperative headquartered in Ponca City, Oklahoma, founded in October 1933 as the Conoco Employees (PC) Credit Union (the second credit union chartered in Oklahoma) and rebranded under its current name in July 1994. It serves approximately 9,000+ members who live, work, worship, or have family ties in Oklahoma, operating three branches (East and West in Ponca City, plus Newkirk) alongside a digital banking platform that was replaced in March 2026 with a new online banking portal, iOS/Android mobile app, and 24/7 audio banking service. Its product set spans core retail banking — Share Savings, Rewards Dividend Checking (4.00% APY on first $2,000), Rewards CashBack Checking, certificates of deposit (up to 3.30% APY), IRAs, and a youth Rewards Innovators account — plus consumer and mortgage loans (HELOCs as low as 6.75%, auto loans at 5.75%, credit cards at 9.99%), and supplementary services delivered through a wholly-owned insurance subsidiary (Cherokee Strip Insurance Agency, offering products from 40 carriers) and a partnership with CU Wealth Group for investment and retirement advisory services.

The credit union generates revenue primarily through net interest income on its loan portfolio, supplemented by service and transaction fees (overdraft protection, wire transfers, stop payments, courtesy pay, paper statements) and interest expense on share deposits and CDs. As a cooperative, profits are returned to members as competitive deposit dividends and loan rates rather than to outside shareholders. Distribution is multi-channel: three physical branches, a recently modernized digital platform, and access to 30,000+ fee-free CO-OP ATMs nationwide. Member acquisition is community-led, driven by common-bond eligibility, local brand recognition, and word-of-mouth referrals, with marketing support from organic social (Facebook, LinkedIn, Instagram) and educational website content on fraud prevention and financial wellness.

CSCU's strategic posture is defensive-modernization rather than transformational expansion: the most material recent move was the February-March 2026 system-wide digital banking upgrade, with prior growth coming from the 2018 launch of the insurance subsidiary and the addition of wealth management services via CU Wealth Group. There are no disclosed acquisitions, funding rounds, geographic expansions beyond Oklahoma, or AI initiatives, and customer concentration is entirely geographic to northern Oklahoma, leaving the institution materially exposed to regional economic cycles (energy, agriculture, small business) and to competitive pressure from larger banks and digital-first entrants.

Name

Cherokee Strip Credit Union

Legal name

Cherokee Strip Credit Union

Website

https://cherokeestrip.com

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

11–50 employees

Short description

Cherokee Strip Credit Union is a member-owned, NCUA-insured cooperative financial institution serving approximately 9,000+ Oklahoma residents through three branches in Ponca City and Newkirk, offering deposit accounts, consumer and mortgage loans, Visa credit cards, insurance via its CSIA subsidiary, and wealth management through a CU Wealth Group partnership.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Share savings accounts
• Credit union deposits

Headquarters

HQ city

Ponca City

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on consumer loans, mortgage loans, HELOCs, and credit cards. Interest is calculated on daily unpaid balance for consumer loans.
2. Fee-based Services: Various service fees including overdraft protection transfers ($4), foreign ATM transactions ($2.50), wire transfers ($22-$30 domestic), stop payment requests ($28-$35), courtesy pay ($29), research fees ($20+), and paper statement fees ($5).
3. Certificate of Deposit Interest: Time deposits paying interest rates ranging from 0.50% to 3.30% APY on terms from 6 months to 5 years, with $500 minimum deposit.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Cherokee Strip Credit Union is a member-owned financial cooperative that provides retail banking products including share savings, checking accounts, certificates of deposit, IRAs, consumer loans, mortgage loans, and Visa credit cards to members in Oklahoma. It also delivers insurance products through its wholly-owned subsidiary Cherokee Strip Insurance Agency and investment services via a partnership with CU Wealth Group, supported by online, mobile, and audio banking channels.

Product overview

Cherokee Strip Credit Union operates as a single-brand, full-service financial institution offering a comprehensive suite of banking products organized around a core digital banking platform. The product portfolio includes deposit products (Share Savings, Rewards Dividend Checking, Rewards CashBack Checking, Certificates of Deposit, IRAs, and youth Rewards Innovators accounts), lending products (Consumer Loans, Mortgage Loans including HELOCs, and Visa Credit Cards), and supplementary financial services (Insurance Agency, Investment Services via CU Wealth Group partnership). Digital banking services are delivered through online banking, mobile banking app (Cherokee Strip CU), and audio banking. The credit union serves members in Oklahoma with three branch locations and participates in the CO-OP ATM network for nationwide fee-free ATM access.

Differentiator

Problem solved

Functional benefit

Brands

• Cherokee Strip Insurance Agency (CSIA): Insurance agency that is 100% owned by Cherokee Strip Credit Union. Offers insurance products from 40 insurance companies. You do not need to be a credit union member to use CSIA services.

Products and services

• Share Savings Basic savings account required for credit union membership, earning monthly dividends computed on average daily balance. A minimum $5 deposit establishes membership.
• Rewards Dividend Checking Interest-bearing checking account with an annual dividend of 4.00% on the first $2,000 in balances for qualifying members.
• Rewards CashBack Checking Checking account earning 0.40% cash back on the first $2,000 in monthly debit card purchases, with reward qualifications including minimum balance and direct deposit.
• Certificate of Deposit (CD) Fixed-term deposit accounts with terms from 6 months to 5 years, requiring $500 minimum deposit, with interest paid monthly at rates up to 3.30% APY.
• Individual Retirement Account (IRA) Retirement savings accounts including Traditional IRA, Roth IRA, and Coverdell ESA for education savings.
• Rewards Innovators Account Youth savings account for members under 18, earning 2.00% annual dividend on first $2,000 with a minimum monthly deposit of $10.
• Consumer Loans Personal loans for vehicles (cars, trucks, vans, boats, motorcycles), recreational vehicles, camping trailers, tractors, signature loans, and savings-secured loans.
• Mortgage Loans Home purchase and refinance loans including 30-year and 15-year fixed-rate mortgages, adjustable-rate mortgages (3/1, 5/1, 7/1 ARM), and Home Equity Line of Credit (HELOC).
• Visa Credit Cards Credit card products with no annual fee and competitive rates, available as consumer credit cards with rates as low as 9.99%.
• Debit Cards Check cards with $1,000 daily point-of-sale limit and $300 daily ATM withdrawal limit, usable as credit or debit with PIN.
• Cherokee Strip Insurance Agency Wholly-owned insurance subsidiary offering products from 40 insurance companies, allowing members and non-members to shop, compare, and purchase coverage.
• Investment Services (via CU Wealth Group) Wealth management and investment services partnership with CU Wealth Group, offering individual and business accounts, IRAs, SEP, SIMPLE, 401(k), 403(b), 457 Plans, with accounts custodied at Interactive Brokers.
• Online & Mobile Banking Digital banking platform providing account access, transfers, bill payment, mobile deposit capture, and e-alerts, with a new 'Cherokee Strip CU' app launched in March 2026.
• Audio Banking Phone-based automated banking service accessible 24/7 for account inquiries and basic transactions.
• Wire Transfer Services Domestic and international wire transfer services with fees of $22 for outgoing and $11 for incoming wires.

Quantifiable outcome

• 4.00% annual dividend on Rewards Dividend Checking first $2,000 balance
• +5 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature3 records

Partnerships

One partnership is on record.

• CU Wealth GroupcoreGTM or Marketing PartnerCherokee Strip Credit Union has partnered with CU Wealth Group to provide investment and wealth management services to members. CU Wealth Group provides financial planning tools, dedicated financial advisers, and professional investment management. Members can get started with as little as $50 to invest with no account minimums. CU Wealth Group is an independent investment adviser registered with the SEC and acts as a fiduciary. Investment accounts are custodied at Interactive Brokers Group, LLC.

Scale indicators1 record

Recent moves6 records

Expansion highlights4 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/2094699157480767
• LinkedInlinkedin.com/company/cherokee-strip-credit-union
• Instagraminstagram.com/cscu_ok
• Xx.com/cherokeestripcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cherokee Strip Credit Union