Local Credit Union Returns Nearly $800,000 to Members Through “OTIS Advantage” Program
Press Release by WGME 13
February 17, 2026
OTIS Federal Credit Union is continuing a long-standing tradition of putting members first through its Annual Bonus Dividend and Interest Refund, a program known as the “OTIS Advantage” that returns profits directly to member accounts.
On January 1, 2026, OTIS FCU distributed $788,735.23 to members through a 6% Bonus Dividend and Interest Refund. The payout marked the 21st consecutive year the credit union has shared its financial success with members, a practice that remains rare across the financial industry and distinctive in Maine.
OTIS Federal Credit Union is a not-for-profit financial cooperative headquartered in Jay and owned entirely by its members, who become shareholders when they open an account. Founded in April 1954 by eleven mill workers, the credit union was established to improve access to affordable loans at a time when traditional banking options were out of reach for many families. That cooperative, member-focused foundation continues to shape OTIS FCU’s mission today.
The credit union now serves more than 12,000 members across nine Maine counties and manages more than $290 million in assets. Its field of membership includes individuals who live, work, worship, or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset, or York counties, as well as immediate family members of existing members.
The Annual Bonus Dividend and Interest Refund distributes profits based on members’ economic participation throughout the year. Members earn a bonus dividend based on the dividends received on savings, while borrowers earn an interest refund based on the interest paid on qualifying loans. Members who choose OTIS FCU for more of their financial needs share in a larger portion of the annual return.
While the percentage returned varies from year to year depending on financial performance, OTIS FCU has returned more than $8.8 million to its members over the past two decades through the OTIS Advantage program.
The Bonus Dividend is one of several benefits tied to OTIS Federal Credit Union’s not-for-profit, member-owned structure. The credit union is able to offer lower loan rates, higher dividend rates, fewer fees, and more flexible, personalized financial services compared to many for-profit financial institutions. These advantages help members keep more of their money where it matters most.
OTIS FCU has expanded its offerings over time while remaining rooted in its cooperative values. Members have access to a full range of financial services, and a state-of-the-art digital banking platform. The credit union describes its approach as honoring its heritage while innovating for the future to deliver an elevated member experience.
Community involvement remains a central priority for OTIS Federal Credit Union. In 2025, the organization contributed more than $60,000 to community organizations and causes across the nine counties it serves, underscoring its strong commitment to local impact. Beyond financial support, OTIS team members actively volunteer their time at local events, school programs, fundraisers, and community initiatives—demonstrating that the credit union’s investment in the region extends well beyond dollars to hands-on service and meaningful engagement.
Whether you enjoy the personal touch of in-branch banking or the ease of managing your finances online, OTIS Federal Credit Union is ready to serve you. Visit their newly refreshed branch at 170 Main Street in Jay, or learn more at www.otisfcu.coop.
When you bank with OTIS, you can bank on OTIS. Experience the OTIS Advantage today!
This article is sponsored by OTIS Federal Credit Union. The content is educational in nature and should not be considered official financial advice.
Link to article on wgme.com: Local credit union returns nearly $800,000 to members through “OTIS Advantage” Program
