Citizens Bank of Edmond recently received the Women’s Depository Institution designation after meeting the requirements set forth by the Federal Reserve.
“The diversity of our bank’s ownership and management has been a source of both stability and innovation for our 121-year history,” said Jill Castilla, president and CEO of Citizens Bank of Edmond. “This designation provides our bank resources and access to funds that will further support our commitment to sustain for another 121 years as an independent, community bank while making positive generational impact in all the communities we serve.”
To qualify as a Women’s Depository Institution the following must be met: more than 50 percent of the ownership or control of which is held by one or more women; more than 50 percent of the net profit or loss of which accrues to one or more women; and a significant percentage of senior management positions of which are held by women.
Only 13 woman-owned depository institutions exist in the United States, and two are in Oklahoma, according to the Office of the Comptroller of the Currency. The OCC considers women-owned institutions as minority owned, providing access to additional partnerships and capital programs.
True Sky Credit Union
True Sky Credit Union’s grand opening for its 12th branch location will be Saturday, May 21, at 1127 E. 2nd Street in Edmond, from 9 a.m. to noon., its second branch in Edmond.
In May, True Sky’s Sky Crew, the credit union’s community service entity, will sponsor a giveaway to four Edmond teachers valued at $1,600. During the grand opening, True Sky will provide a family meal for firefighters at the neighboring Edmond Fire Department station and all True Sky locations will be accepting non-perishable food donations through May 23 in partnership with the Regional Food Bank of Oklahoma.
“It is a pleasure to be a part of the True Sky team as we open a new location in the heart of Edmond,” said 2nd Street branch manager Josh Morava. “I’m incredibly excited to help grow True Sky in the greater Edmond area by working to help the community achieve their financial needs and to serve in the community through volunteering with the numerous non-profits that help to support Edmond.”