Business Accounts
We offer a variety of business accounts to help your business grow. Let’s talk business today!


Business Savings
Opening an OTIS Business Savings Account not only establishes you as a member, but becomes your ownership share in the credit union. You’re not a customer here, you’re an owner – and we treat you like one!
If you live, work, worship, or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset, or York County, you are eligible to join OTIS FCU! Relatives of current members are also eligible to join. Simply open a Business Savings Account with as little as $25.00.
Business Checking
We offer Business Checking Accounts to fit your financial needs and help your business thrive. We service a wide range of businesses from small companies to well-established corporations. Find the right fit today!
Business Checking
- 100 FREE items* per month
- $0.25/item* over 100
- NO monthly service fee
- FREE OTIS Rewards Debit Card
Business Premium Checking
- 200 FREE items* per month
- $0.50/item* over 200
- $5 monthly service fee
- FREE OTIS Rewards Debit Card

Business Account Rates
Business Account Rates
Account Type | Dividend Rate | Annual Percentage Yield | Minimum Balance Required to Open/Obtain APY | Monthly Service Fee | Account Limitations |
---|---|---|---|---|---|
Business Savings | 0.05% | 0.05% | $25.00 | $0.00 | Minimum balance required to obtain the Annual Percentage Yield for the dividend period. |
Business Checking | 0.00% | 0.00% | $0.00 | $0.00 | • 100 FREE items* per month. • $0.25/item* over 100. |
Business Premium Checking | 0.00% | 0.00% | $0.00 | $5.00 | • 200 FREE items* per month. • $0.50/item* over 200. |
* Items are defined as cash deposits, checks (written or deposited), ACH debits, ACH credits, incoming and outgoing wires, and statement or check copies.
The rates applicable to your business account at OTIS Federal Credit Union are provided above.
OTIS Federal Credit Union may offer other rates for these accounts from time to time.
What You Will Need to Open Your Business Account
To open any type of business account, you will need to provide the same forms of identification as are needed for a personal account, including for any Authorized Signers. Please refer below for any additional documents that are required.
Sole Proprietorship/DBA
- Federal letter with assigned Tax ID (EIN)
- Social security number, if no EIN
Limited Liability Company (LLC)
- Federal letter with assigned Tax ID (EIN)
- Social security number, if no EIN
- Operating Agreement
- Certificate of Formation (Form MLLC-6)
- Business status according to the State of Maine: Active, Current, or In Good Standing
Partnership
- Federal letter with assigned Tax ID (EIN)
- Partnership Agreement
- Limited or Limited Liability Partnership: Certificate of Partnership (Form MLPA-6)
- General Partnership: Certificate of Association
- Business status according to the State of Maine: Active, Current, or In Good Standing
Corporation
- Federal letter with assigned Tax ID (EIN)
- Articles of Incorporation
- Corporate Resolution
- Business status according to the State of Maine: Active, Current, or In Good Standing
Organization/Association
- Federal letter with assigned Tax ID (EIN)
- Proof of authorization to open an account (e.g., By-Laws, Charter, letter of authorization)