Central Oklahoma Clearing House Association

Critical Protection for Financial Institutions

Our History

Our organization was founded in 1903. In 1973, the group was reorganized as the Central Oklahoma Clearing House Association, or COCHA, as we are known today.

1940-1973

1940

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank

  • Clearing House to pay $76.50 for 25,000 circulars, "Know Your Money" submitted by the U.S. Secret Service, detailing the practices of counterfeiters and the means of apprehending them.
  • Due to war situation and inevitability of male draft, advised banks to employ more women than in ordinary times.
  • Protested the transfer of activities of the Commodity Credit Corporation from Oklahoma City to Dallas.

1941

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank
Secretary/Treasurer: Lillian B. Canon

  • Dates for paying interest on savings accounts changed to April 1 and October 1.
  • 89er's Day, April 22, observed as a holiday.
  • To raise $1,000.00 for the Better Business Bureau.
  • To contribute $250.00 towards the expense of a booth at the Oklahoma State Fair for the sale of Defense Stamps and Bonds. Oklahoma City Building and Loan Assn. to pay $100.00.

1942

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank
Secretary/Treasurer: Royal C. Stuart, Fidelity National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

  • Formed the Oklahoma Victory Fund Committee.

1943 & 1944

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank
Secretary/Treasurer: Royal C. Stuart, Fidelity National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

1945

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank
Secretary/Treasurer: Royal C. Stuart, Fidelity National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

  • Every member bank to report all currency transactions to the Federal Reserve Bank unless they had some reason to believe that the transaction was legitimate and regular.
  • Duplicate borrower's report adopted for loans over $2,500.00.

1946

President: D.W. Hogan, City National Bank
Vice President: A.J. Peters, First National Bank
Secretary/Treasurer: Royal C. Stuart, Fidelity National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

  • Hired a Veterans Finance Counselor for a salary of no more than $300.00 per month for a period of one year.
  • Highest scoring employee of each five AIB courses to be awarded an all expenses paid trip to the national convention each year. No employee to be entitled to this prize more than once each four years.

1947

President: D.W. Hogan, City National Bank
Vice President: R.C. Stuart, Fidelity National Bank
Secretary/Treasurer: Roy Glass, Tradesmen's National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

1948

President: D.W. Hogan, City National Bank
Vice President: R.C. Stuart, Fidelity National Bank
Secretary/Treasurer: Roy Glass, Tradesmen's National Bank
Asst. Secretary/Treasurer: Lillian B. Canon

  • $300.00 paid to the State Chamber of Commerce for research work.
  • $1,500.00 contributed to the Salvation Army Drive.
  • Urged banks to use extreme caution in their loaning, especially for unnecessary expansion for building and construction which will require scarce materials.
  • $6,470.00 contributed to the Medical Research Foundation.

1949

President: D.W. Hogan, City National Bank
Vice President: Felix Simmons, Liberty National Bank
Secretary/Treasurer: Roy Glass, Tradesmen's National Bank

  • Clearing agreement signed by: First National Bank and Trust Co., Liberty National Bank, Tradesmen s National Bank, Fidelity National Bank, City National Bank and Trust Co., Oklahoma National Bank and the Federal Reserve Bank of Kansas City, Oklahoma City Branch.
  • Supported the passage of bill in State Legislature that would permit banks of the State to close one business day each week.
  • Passed resolution to support discontinuance of FDIC assessments. (Assessments amounted to roughly 10% of net operating income.) Further documentation available.

1950-1973

1951

  • Opposed the use of withholding tax on the interest paid on savings accounts.

1971

  • Work began on the revision of the outdated 1949 Clearing Agreement.

1972

  • John Borden, Executive Director of the Greater Kansas City Clearing House suggested the formation of a national association of clearing houses.
  • Ed Farley retained as manager of the Oklahoma City Clearing House.

1973

  • Final draft of a new Oklahoma City Clearing House Constitution, and Rules and
  • Regulations agreed upon.
  • First general membership meeting scheduled for June.