Press

OTIS Federal Credit Union returns 7% bonus dividend and interest refund to membership

ST.JAY, ME (January 16, 2024) — OTIS Federal Credit Union is pleased to announce the return of a 7% Bonus Dividend and Interest Refund on January 1, 2024, representing a total of $566,112.94 given back to members for the year 2023. Over the past nineteen years, OTIS FCU has returned over $6.9 million to both its savers and borrowers, rewarding members in proportion to their economic participation in the Credit Union.

“2023 was another financially strong year for OTIS Federal Credit Union. We are pleased that we were able to return over half a million dollars to our members,” stated Chris Bouchard, OTIS FCU President/CEO. “Our members are shareholders and owners of OTIS, and it is their patronage that drives the Credit Union.”

OTIS FCU’s Director of Marketing & Communications Kimberly Couture also commented, “The response from our membership is overwhelming, and comments regarding the posting of our Bonus Dividend and Interest Refund have always been extremely positive. Our members seem to truly appreciate this additional benefit to banking with us.”

Added Bouchard, “At OTIS, we believe that when we do well, our members should do well. As we enter this new year, we want to extend a heartfelt thank you to our members for their loyalty and continuing to choose OTIS as their trusted financial institution. You are the reason for our success!”

If you’re not already an OTIS member, come join us and experience the OTIS Advantage! Membership eligibility details can be found on our website at https://www.otisfcu.coop/become-member/.

L to R: Chris Bouchard, President/CEO of OTIS Federal Credit Union; Darice Roy, CCUE, Vice President


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 $238 million in assets, employing 27 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.

Contacts

Kimberly Couture
KimberlyC@otisfcu.coop
Director of Marketing & Communications
170,Main street, Jay, ME
(207) 320-4985

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