OTIS Federal Credit Union returns $277,759.57 to members with bonus dividend and interest refund
ST.JAY, ME (January 31, 2023) — OTIS Federal Credit Union is pleased to announce that it posted a 5% Bonus Dividend and Interest Refund on January 1, 2023, resulting in a total of $277,759.57 paid out to members for the year 2022. Over the past eighteen years, OTIS FCU has returned over $6 million to both its savers and borrowers via this annual practice.
“For all of us at OTIS, 2022 was a year of change. We want to thank our members for working with staff as they endeavored to navigate those changes,” OTIS FCU President/CEO Chris Bouchard stated. “The 5% Bonus Dividend and Interest Refund was a result of the Credit Union’s success last year, and we were grateful to return it to our members. After all, as an OTIS member, you aren’t just a number – you’re an owner, contributing to and directly benefiting from the Credit Union’s success. We are eager to embark on 2023 and look forward to sharing our growth together. We understand you have many financial options to choose from. Thank you for choosing OTIS.”
OTIS FCU’s Bonus Dividend and Interest Refund program is the only one of its kind statewide, and rewards members in proportion to their economic participation in the Credit Union.
Please direct all media inquiries to Kimberly Couture, Director of Marketing and Communications, at (207) 320-4985, or email KimberlyC@otisfcu.coop.
About OTIS Federal Credit Union
OTIS Federal Credit Union was founded in April of 1954 by eleven local millworkers. Pooling their respective deposits of $5 each, they associated themselves as charter members of OTIS under the provision of the Federal Credit Union Act. At a time in America when obtaining a loan was difficult for the average family, the founders of OTIS sought to form a cooperative, independent financial institution operated and controlled solely by its local membership.
Since its inception, OTIS has been committed not only to providing quality financial products and services to its shareholders, but to giving back to the community. Today, OTIS is a full-service financial center offering real estate, auto, and personal lending; online and mobile banking; a variety of checking, savings, and investment accounts; Visa debit and credit cards; financial planning; and much more. OTIS serves more than 11,000 members and holds over $227 million in assets, employing 31 people from Jay and the surrounding area. The Credit Union is located at 170 Main Street in Jay, Maine. For more information, please visit www.otisfcu.coop or call (207) 897-0900.