OTIS Federal Credit Union Returns More Than $8 Million to Members Through 20 Years of the “OTIS Advantage”

For Immediate Release

January 9, 2025

OTIS Federal Credit Union Returns More Than $8 Million to Members Through 20 Years of the “OTIS Advantage”

JAY— OTIS Federal Credit Union is pleased to announce that a 10% Bonus Dividend and Interest Refund of $1,071,959.30 was posted to member accounts on January 1, 2025. This return represents the Credit Union’s financial success in 2024 and is the largest bonus to date. Over the past twenty years, OTIS FCU has returned over $8 million to both its savers and borrowers through this practice.

OTIS FCU President/CEO Chris Bouchard stated, “At OTIS, our members are shareholders of the Credit Union. Profits are returned to our members through higher deposit rates, lower borrowing rates, fewer fees, and improvements in technology and services. Over the last twenty years, we have directly shared our success through the ‘OTIS Advantage,’ returning an annual bonus dividend and interest refund, rewarding members according to their economic participation in the Credit Union.” Bouchard continued, “We are proud to serve our membership and grateful to be able to put over one million dollars back in their pockets this year. It is just another way to thank our members for choosing OTIS FCU.”

At OTIS, we give you more, so you can save more, and do good…with more. To learn about OTIS, please visit us online at www.otisfcu.coop, stop by our branch, or call (207) 897-0900.

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

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Media Inquiries
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; digital banking; a variety of checking, savings, and investment accounts; credit cards; financial planning; and much more. OTIS serves more than 11,000 members and holds over $250 million in assets. We proudly serve the counties of Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset, and York. 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.