Deposit Rates

OTIS FCU offers a variety of different share accounts, from Holiday Club accounts to share draft (checking) accounts.

Deposit Rates

Account TypeDividend RateAnnual Percentage YieldMinimum 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
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, 2024 are subject to a $5.00 penalty.

Rates effective 2/27/2024.

Money Management**

Tier 10.05%0.05%$0.00 to $1,999.99
Tier 22.96%3.00%$2,000.00 to $20,000.00
Tier 33.20%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.
IRA Share0.05%0.05%$25.00
Roth IRA Share0.05%0.05%$25.00
Coverdell Educational IRA Share0.05%0.05%$25.00
Health Savings***$0.00
Tier 10.05%0.05%$0.00 to $1,999.99
Tier 20.85%0.85%$2,000.00 to $20,000.00
Tier 31.04%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payment, overdrawn/NSF share drafts, fee-based ATM withdrawals, replacement cards and the like, may not be deducted or withdrawn from health savings accounts.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.

Share & IRA Fixed Rate Certificates

Available TermsDividend RateAnnual Percentage YieldMinimum Required Balance
6 Months4.60%4.70%$500.00
12 Months4.89%5.00%$500.00
24 Months4.51%4.60%$500.00
36 Months3.93%4.00%$500.00
48 Months3.93%4.00%$500.00
60 Months3.93%4.00%$500.00
Rates effective 6/11/2024. All Certificate renewals are automatic. Withdrawals of dividends are allowed. Additional deposits are not allowed. Your certificate account will mature within the term set forth at the left or the maturity date set forth on your Certificate or maturity notice. The credit union will give the owner(s) at least 10 days' notice prior to maturity.
There may be a substantial penalty for the early withdrawal of the principal of a Share or IRA Certificate.


Share Insurance Overview

The National Credit Union Share Insurance Fund (NCUSIF) is the federal fund created by Congress in 1970 to insure member’s deposits in federally insured credit unions. On July 22, 2010, the Dodd-Frank Wall Street Reform and Consumer Protection Act was signed into law and included permanently establishing NCUA’s standard maximum share insurance amount at $250,000. All deposit insurance resources reflect this higher level of coverage.

Administered by the National Credit Union Administration, the NCUSIF is backed by the full faith and credit of the U.S. Government.

Accounts exceeding the maximum level of coverage provided by the NCUA are also insured up to an additional $250,000 by ESI.

  • Insurance Estimator |
    The Share Insurance Estimator is designed to give an accurate share insurance calculation, assuming it is properly used and the account information is correctly entered. Please note that the results and conclusions generated by the Share Insurance Estimator are strictly advisory. All actual claims for share insurance shall be governed exclusively by information set forth in the federally insured credit union’s records and applicable federal statutes and regulations then in effect.

Excess Share Insurance

ESI’s coverage provides up to an additional $250,000 of insurance once a members’ balance exceeds the coverage provided by the credit union’s primary insurer NCUA.

All individual share, share draft and share certificates of deposit accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. An individual share account is an account owned by one individual without the right of withdrawal by others. Individual accounts are insured separately from IRA and joint accounts.