OTIS Federal Credit Union was founded in April of 1954 by eleven mill workers who wanted to make a difference in the lives of local people. 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.
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. 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 in a multitude of ways, including sponsorships, donations, annual scholarships, frequent fundraisers for Ending Hunger in Maine, and support of the Franklin County Special Olympics program.
OTIS FCU's field of membership encompasses all of Franklin County, as well as Turner, Leeds, Hartford, Livermore Falls, Livermore, Fayette, Canton, Wayne, Readfield, Mt Vernon, and Vienna. The Credit Union currently serves more than 10,900 members and holds over $168 million in assets, employing 29 people from Jay and the surrounding area.