Savings Accounts

Become a member today when you open an OTIS Savings Account!

OTIS Savings (Share) Accounts


If you live, work, worship, or attend school in Franklin County, Canton, Fayette, Hartford, Leeds, Livermore, Livermore Falls, Mount Vernon, Readfield, Turner, Vienna, or Wayne, you are on your way to becoming a member of OTIS Federal Credit Union. Simply open a Share (Savings) Account with as little as $25.00. Your new OTIS savings account not only establishes you as a member, but becomes your ownership share in the credit union. This is what sets OTIS Federal Credit Union---and all credit unions---apart from our for-profit counterparts. Why settle for being just a customer when you could be a part-owner instead?

Relatives of current members are also eligible to join.

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
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, 2021 are subject to a $5.00 penalty. Rates effective 4/1/2021.

Savings Rates effective 11/1/2020.

Money Management**

Rates Effective 11/1/2020

$2,000.00
Tier 1 0.03% 0.03% $0.00 to $1,999.99
Tier 2 0.15% 0.15% $2,000.00 to $20,000.00
Tier 3 0.20% 0.20% $20,000.01 plus
**Withdrawals must be $500.00 or more and limited to 3 withdrawals per month at no charge.
Excess withdrawal will be charged a $1.00 thereafter. Rates effective 4/1/2021.
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 0.03% 0.03% $0.00 to $1,999.99
Tier 2 0.15% 0.15% $2,000.00 to $20,000.00
Tier 3 0.20% 0.20% $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payment, overdrawn/NSF share drafts, fee based ATM withdrawals, replacement cards and the like, may not be deducted or withdrawn from health savings accounts.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.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