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Home Equity Rates
Real Estate Loan Rates (Refinance or Second Mortgage)
Secured by Real Estate
Rates effective 1/22/2024
| Loan Term | Annual Percentage Rate | Sample Payments per $10,000 borrowed |
|---|---|---|
| 1-5 years as low as | 6.00% APR* | $193.31 for 60 months |
| 6-10 years as low as | 6.25% APR* | $112.28 for 120 months |
| 11-15 years as low as | 6.50% APR* | $87.12 for 180 months |
| 16-20 years as low as | 6.75% APR* | $76.05 for 240 months |
Home Equity Line of CreditRates effective 10/1/2024 |
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| Variable Rate as low as | 8.00% APR** | Minimum payment: $100 or 1.50% of balance after latest advance, whichever is greater. |
An appraisal may be required at a cost of $400. Additional fees include a title search, flood determination, and recording of the deed. The estimated total charges amount to approximately $1,000.
*(APR) Annual Percentage Rate. Above Real Estate Rates are subject to change without notice. No finance charge fees apply.
** Annual Percentage Rate of Home Equity may vary monthly. The rate is the Wall Street Journal Prime Rate as published on the last business day of the month. The maximum annual percentage rate that may be imposed on a Home Equity Loan is 18.00% APR. No finance charge fees apply, membership eligibility required, and property insurance required. Minimum advance of $500.
Savings Rates
| Account Type | Dividend Rate | Annual Percentage Yield | Minimum Opening/Required Balance |
|---|---|---|---|
| Membership Share (Savings) | 0.05% | 0.05% | $25.00 |
| Coindexter Club (Youth Savings - Under 13 years of age) | 0.05% | 0.05% | $5.00 |
| Teen Flex (Teen Savings - 13-15 years of age) | 0.05% | 0.05% | $15.00 |
| Share Draft (Checking) | 0.00% | 0.00% | $0.00 |
| Clubs | 0.05% | 0.05% | $0.00 |
| Holiday Club* | 0.05% | 0.05% | $0.00 |
| *Withdrawals made more than 7 days after the account is opened and before the maturity date of October 18 are subject to a $5.00 penalty. Rates effective 2/27/2024. |
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Money Management** | $2,000.00 | ||
| Tier 1 | 0.05% | 0.05% | $0.00 to $1,999.99 |
| Tier 2 | 2.96% | 3.00% | $2,000.00 to $20,000.00 |
| Tier 3 | 3.20% | 3.25% | $20,000.01 plus |
| **Withdrawals must be $500.00 or more and limited to 3 withdrawals per month at no charge. Excess withdrawals will be charged a $1.00 thereafter. Rates effective 2/27/2024. |
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| IRA Share | 0.05% | 0.05% | $25.00 |
| Roth IRA Share | 0.05% | 0.05% | $25.00 |
| Coverdell Educational IRA Share | 0.05% | 0.05% | $25.00 |
| Health Savings*** | $0.00 | ||
| Tier 1 | 0.05% | 0.05% | $0.00 to $1,999.99 |
| Tier 2 | 0.85% | 0.85% | $2,000.00 to $20,000.00 |
| Tier 3 | 1.04% | 1.05% | $20,000.01 plus |
| ***Fees for stop payment, overdrawn/NSF share drafts, fee-based ATM withdrawals, replacement cards and the like, may not be deducted or withdrawn from health savings accounts. These fees shall be deducted from other accounts in which the health savings account owner has an interest. Rates effective 2/27/2024. |
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*(APR) Annual Percentage Rate. Above Real Estate Rates are subject to change without notice. No finance charge fees apply.
** A*** Fees for stop payment, overdrawn/NSF share drafts, fee based ATM withdrawals, replacement cards and the like, may not be deducted or withdrawn from health savings accounts. These fees shall be deducted from other accounts in which the health savings account owner has an interest.Minimum balance required to obtain the Annual Percentage Yield for the dividend period. All Rates are subject to change without notice. Truth in Savings Disclosure
Cards
Personal
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Energy Loans
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VISA Debit Cards
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Featured Rates
Personal Loan
7.90%
APR
Single Loan Payment
16.20%
APR
Shared Secure Loan
2.00%
APR
Draft-a-matic Loan
8.25%
APR
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Testimonials
The personal and friendly service is the best part about being a member of OTIS FCU. It's great to bank at a place where you know the people that work there and trust that they will help you in any way that they can. OTIS FCU is MY credit union.
Andrea R.I have been with OTIS for about 20 years and have never had a bad experience. The OTIS team is fantastic and has always helped me efficiently and promptly. I have started my toddlers accounts with them because I know that OTIS is all about family.
Dylan S.What do I love about OTIS? Everything! Their online banking, online loan applications, friendly and helpful staff, and the ability to keep them as our banking institution even though we live almost 100 miles away! We are members for LIFE!
Susan B.Form
Featured / Recent Posts
Fall Raffle for Ending Hunger
Through November 29, stop by our lobby to purchase your chances to win one of four prizes, with 100% of proceeds benefiting local food pantries!
Join Us & Experience the OTIS Advantage
If you live, work, worship, or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset, or York County, you are eligible to become a member of OTIS FCU.
Immediate family members, regardless of geographic location, are also eligible for membership. We look forward to meeting you!