Share Accounts

Opening a Share Account is easy!

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.


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.

ESI Logo

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.

All joint accounts held by the same members are added together and insured up to the $250,000 by the NCUA and an additional $250,000 by ESI, for a total of $500,000. Joint accounts are insured separately from individual and IRA accounts.

All IRA accounts held by the same member are added together and insured up to the $250,000 by NCUA and an additional $250,000 by ESI, for a total of $500,000. IRA accounts are insured separately from individual and joint accounts.

Excess Share Insurance Brochure


Savings Rates

Account TypeDividend RateAnnual Percentage YieldMinimum Opening/Required Balance
Membership Share (Savings)0.10%0.10%$25.00
Coindexter Club (Youth Savings - Under 13 years of age)0.10%0.10%$5.00
Share Draft (Checking)0.00%0.00%$0.00
Holiday Club*0.10%0.10%$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 11/2/2020.

Savings Rates effective 11/2/2020.

Money Management**

Rates Effective 5/1/2020

Tier 10.05%0.05%$0.00 to $1,999.99
Tier 20.15%0.15%$2,000.00 to $20,000.00
Tier 30.30%0.30%$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 10/1/2019.
IRA Share0.30%0.30%$25.00
Roth IRA Share0.30%0.30%$25.00
Coverdell Educational IRA Share0.30%0.30%$25.00
Health Savings***$0.00
Tier 10.20%0.20%$0.00 to $1,999.99
Tier 20.45%0.45%$2,000.00 to $20,000.00
Tier 30.50%0.50%$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