Credit
Counseling
Centers of
Oklahoma, Inc.
2012
Annual
Report
Confounding is the best word to describe 2012. From 2011
to 2012 credit card balances dropped to $672 billion which
is the lowest level since 2002 and a decline of 22.4% from
their peak in 2008. Some believe this statistic demonstrates
that Americans are becoming more financially responsible.
Others contend the falling indebtedness is largely due
to defaults rather than repayment.
Margo Mitchell, President & CEO
C
redit Counseling Centers of Oklahoma, Inc. has been helping people
improve their quality of life since 1968 with the support from people like
you. Each year your support allows CCCS of Oklahoma to train and
provide certified credit counselors who offer financial management and credit
education services from four locations throughout Tulsa and northeastern
Oklahoma.
The massive onslaught of illegal robocalls that promise
consumers credit card interest rates reductions that will
save thousands of dollars and eliminate their debt more
quickly is alarming and disconcerting. In reality, the end
results are usually substantial upfront fees and the
companies do little if anything promised. These actions
have put us on the defensive because fewer consumers
are seeking our services.
To respond in 2013, the agency plans to launch an
awareness campaign and to expand our financial literacy
efforts through partnerships/collaborations and new
program offerings that go beyond basic financial skills.
2012 Program Outcomes
Financial Counseling Only
Thank You to the Following Supporters
Special Thanks
Tulsa Area United Way
Bank of America
Citi
The George Kaiser Family
Foundation
The Anne and Henry Zarrow
Foundation
The Maxine and Jack Zarrow
Family Foundation
Ruth K Nelson Revocable
Trust
Elizabeth & Victor R Schock
Michelle & Aaron Choquette
Dr. Sissy Osteen
Mary & Floyd Schulte
Sheryl St. George
Public Service Company
of Oklahoma
Robert E Lawyer II
Mike Patterson
Brian J Easlon
Karen & Stephen Howe
Dameris & Craig Denslow
Debra J Morrow Ingram
Phillip Mulkins
Bruce Adkins
Mark Solano
HSBC
Household Finance
Chase
HUD
NeighborWorks
GE Capital
Target
American Express
Discover
Capital One
Wells Fargo
Aspire Kohl's
Hardesty Family Foundation
Steve Berry
Edward J. Wilkinson
• Provided credit counseling for 1,827 families and individuals
• More aware of spending habits – 92.3 %
• Better able to budget – 86.1%
• Have a better understanding of a need versus a want – 92.9%
• Feel less stress afterwards – 75.1%
• Have a solution to financial crisis – 79.8%
Debt Management Plans
• Returned $4,530,270 to creditors on behalf of our DMP clients
• 197 clients paid off all their debts through our program
• Average debt $25,191
• Average number of months on our program – 44.5
Education Programs
CCCS Locations
Tulsa
Broken Arrow
Claremore
Sapulpa
4646 South
Harvard
Main Office
317 South Main
104 South Missouri
Suite 205
19 North Main
Community
Resource Center
• Facilitated 218 community education programs reaching 2,108 people
• High School Credit – 25.2% increase in knowledge
• High School Budgeting – 37.9% increase in knowledge
• Adult Credit – 20.5% increase in knowledge
• Adult Budgeting – 28.5% increase in knowledge
www.cccsofok.org
2012 Board of Directors
Officers
Chair Dr. Sissy Osteen, Oklahoma State University
Chair Elect Sheryl St. George, Simply Sushi
Vice Chair R. Mark Solano, Newton, O’Connor, Turner & Ketchum
Secretary Mike Patterson, Hood & Raynolds
Treasurer J. Stephen Howe, J.P. Morgan Chase
Directors
Bruce Adkins, Regent Bank
Steve Berry, Blue Cross & Blue Shield of Oklahoma
Michelle Choquette, CAPTC
Craig Denslow, Oolagah United Methodist Church
Brian Easlon, Northwest Mutual Financial Group
D.J. Morrow Ingram, Morrow Public Relations
2012 Financials
Phil Mulkins, Tulsa World
2012 Sources of Funding
Floyd Schulte, Public Service Company of Oklahoma
United Way 19.3%
Victor Schock, Retired
Federal and State Grants 10.8%
Investment Income 1.9%
Client Fees 25.3%
Grants and Donations 11.7%
Creditor Contributions 31%
R. Mark Solano, Newton, O'Connor, Turner & Ketchum
Intern
Josh Miller, The Persimmon Group
Staff
Julie Bailey
Randy McKenney
Revenue
Mary Bell
Margo Mitchell
Creditor Contributions.....................................………... $285,717
John Dessauer
Dennis Neibling
Client Fees……………….............………........................... 233,080
John Fullington
Dennis Reecher
United Way…………………........................................…..177,531
Norman Gootee
Tom Simpson*
Federal and State Grants..........................................……...…99,712
Wayne Kindrick
Mary Thomas
Grants and Donations….....................................………..….107,945
Investment Income…......................................………….…….18,071
Total……………….........................................…..…922,056
*We wish to recognize Tom Simpson for his 34 years of service. He began work for the agency
on 4/2/1979 and during that time successfully assisted hundreds of clients move towards a better
financial future. Best of luck Tom; we will miss you.
www.cccsofok.org
Consumer Credit Counseling Service
Our Consumer Credit Counseling Service (CCCS) includes a credit and budget
counseling program designed to assist families and individuals to better plan their
spending and learn to budget funds in the most efficient manner possible. We
provide several convenient counseling options for our clients. These choices include:
face-to-face counseling in one of our offices, telephone counseling for those who
cannot come into our offices and counseling on our website. Each of our counselors
is certified as a consumer credit counselor. They provide the guidance and support
necessary to help each client through this very difficult time in their lives.
The Debt Management/Repayment Program serves a dual role of helping our
clients repay their debt and helping creditors receive the money owed to them.
The program involves establishing and administering a strict and realistic budget
for our clients. Our counselors handle payment arrangements with creditors.
With the funds the client deposits with us, we make the monthly payments in
an agreed upon amount.
Community Education
Our Education Department provides quality educational programs to all segments of the
community. We offer a choice of courses, each dedicated to delivering specific information
to help participants identify current spending habits, establish a budget for their current
income level, understand credit and its related laws, and make a plan for savings. These
courses are taught utilizing a variety of teaching methods including interactive games, case
studies, role playing and practical exercises to best serve the audience.
Housing Counseling
CCCS also provides counseling about all aspects of housing including pre-purchase, default
mortgages, delinquent rent and reverse mortgages. This program is HUD certified.
Bankruptcy Counseling
For the first time in history, a federal law, the Bankruptcy Abuse Prevention & Consumer
Protection Act of 2005, includes provisions for financial counseling and education. Our
agency is “Approved to issue certificates in compliance with the Bankruptcy Code.
Approval does not endorse or assure the quality of an agency’s services.”
www.cccsofok.org
Employees from The Holmes
Organisation and PSO participate
in United Way’s Day of Caring
painting offices.
Mission Statement: Credit Counseling Centers of Oklahoma, Inc. is an educational,
not-for-profit agency that improves lives by providing money management,
education and confidential credit counseling.
Credit Counseling Centers of Oklahoma, Inc.
4646 South Harvard • Tulsa, OK 74135-2908
918-744-5611 • www.cccsofok.org