All Roll Calls
Yes: 180 • No: 0
OklahomaSB 1623Oklahoma 2026 Regular SessionSenateWALLET
Credit unions; requiring certain records to be filed with Bank Commissioner; allowing investments; providing requirements for credit unions; establishing compensations. Effective date.
Sponsored By: Julie Daniels (Republican)
Became Law
Senate Committee
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Bill Overview
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Credit union officials’ pay requires annual disclosure
Beginning November 1, 2026, credit union board members and credit and supervisory committee members can receive pay for services performed. A board resolution must authorize the pay. The credit union must disclose it to members each year as part of its report. Directors cannot be paid solely for serving as directors.
More credit union lending and investment options
Beginning November 1, 2026, Oklahoma’s credit union board must support a competitive state credit union charter. State-chartered credit unions can offer member loans for personal needs or productive purposes with at least the flexibility of federally chartered credit unions. Loans generally cannot exceed 15 years unless a statutory exception or state board or federal credit union agency approval allows longer. The law raises the total investment cap for qualifying service organizations from 1% to 3% of the credit union’s unimpaired capital and surplus. Those organizations must support credit union services or operations; these changes do not guarantee members loans or payments.
More membership options at Oklahoma credit unions
Beginning November 1, 2026, Oklahoma’s credit union board cannot consider membership overlap when reviewing groups a state-chartered credit union seeks to serve. The board can approve more membership groups, including categories preapproved by the federal credit union agency. It can also designate categories for people earning at or below 150% of federal poverty guidelines in federally preapproved underserved areas. Membership still depends on board designation and the credit union’s membership rules; it is not automatic.
Sponsors & Cosponsors
Sponsor
Julie Daniels
Republican • Senate
Cosponsors
Mark Lepak
Republican • House
Roll Call Votes
House vote • 4/29/2026
THIRD READING
Yes: 77 • No: 0 • Other: 1
House vote • 4/15/2026
DO PASS
Yes: 16 • No: 0
House vote • 4/15/2026
DO PASS
Yes: 16 • No: 0
House vote • 4/7/2026
DO PASS
Yes: 8 • No: 0
House vote • 4/7/2026
DO PASS
Yes: 8 • No: 0
Senate vote • 3/26/2026
THIRD READING
Yes: 44 • No: 0
Senate vote • 3/5/2026
Committee vote: Business & Insurance
Yes: 11 • No: 0
Actions Timeline
Becomes law without Governor's signature 05/07/2026
5/7/2026SenateSent to Governor
4/30/2026SenateSigned, returned to Senate
4/30/2026HouseEnrolled, to House
4/30/2026SenateReferred for enrollment
4/29/2026SenateSigned, returned to Senate
4/29/2026HouseThird Reading, Measure passed: Ayes: 77 Nays: 0
4/29/2026HouseGeneral Order
4/29/2026HouseCR; Do Pass Government Oversight Committee
4/15/2026HousePolicy recommendation to the Government Oversight committee; Do Pass Banking, Financial Services and Pensions
4/8/2026HouseReferred to Banking, Financial Services and Pensions
3/31/2026HouseSecond Reading referred to Government Oversight
3/31/2026HouseFirst Reading
3/30/2026HouseEngrossed to House
3/30/2026SenateReferred for engrossment
3/26/2026SenateMeasure passed: Ayes: 44 Nays: 0
3/26/2026SenateTitle restored
3/26/2026SenateGeneral Order, Amended
3/26/2026SenateCoauthored by Representative Lepak (principal House author)
3/12/2026SenatePlaced on General Order
3/10/2026SenateTitle stricken
3/5/2026SenateReported Do Pass, amended by committee substitute Business and Insurance committee; CR filed
3/5/2026SenateSecond Reading referred to Business and Insurance
2/3/2026SenateAuthored by Senator Daniels
2/2/2026SenateFirst Reading
2/2/2026Senate
Bill Text
Enrolled (final version)
4/30/2026
Floor (House)
4/18/2026
House Committee Report
4/15/2026
House Policy Committee Report
4/8/2026
Engrossed
3/30/2026
Floor (Senate)
3/9/2026
Committee Substitute
3/5/2026
Senate Committee Report
3/5/2026
Introduced
1/13/2026
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