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Otis Credit Union

Overview
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Otis Credit Union is a federal credit union based in Jay, Maine. It has been opened since 1954, for 66 years.

With around $172,790,000 in assets, Otis Credit Union is considered to be a large credit union. It has 1 branches and 2 ATM locations.

About
Address Po Box 27
Jay, Maine 04239
Website http://www.otisfcu.coop
Phone (207) 897-0900
Fax (207) 897-3927
CEO Kimberly Turner
President of the Board Duane Lake
Services Offered
Map
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Score Card
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66 years
Years in business
Opened in 1954
Well Capitalized
Net worth classification
Source: NCUA
10,921 members
Membership type: Community credit union
Above average number of members
390:1
Credit union member to staff ratio
390 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$172,786,061
Total assets
Above average
1 branch
Compared with an average of 4 nationally and 4 in Maine
Average number of branches
0.20%
Savings interest rate
Compared to 0.3% nationally
9.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 4 in Maine
Average number of branches
Otis Credit Union Branch Locations

Otis Federal Credit Union
170 Main Street
Jay, Maine 04239
ATM Available
Members
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10,921 members
Membership type: Community credit union
Above average number of members

With 10,921 members, the Otis Credit Union is considered to be a large credit union. It is larger than 72% of credit unions.

Fees
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$70
Average fee per member
The average fee per member at the Otis Credit Union is $70, which is high compared to most credit unions. This rate is higher than 66% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Otis Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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390:1
Credit union member to staff ratio
390 per each FTE employee
Compared to 411:1 nationally
Average number of staff
28 staff members
FTE (full-time equivalent)
7% of employees are part-time
27 full-time, 2 part-time

Otis Credit Union has 27 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 93% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Otis Credit Union has around 390 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$172,786,061
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
16.9%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$8,821
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 62% of credit unions.

Otis Credit Union holds a total of $74,420,000 in loans and leases, which is about $8,821 per member on average.

Savings interest rate
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0.20%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Otis Credit Union pays 0.20%.

Loan rates
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9.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
8.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.30%
New car loan rate
Compared to 4.0% nationally
3.30%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.10%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.50%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
5.25%
Other real estate loan rates
Compared to 0.9% nationally
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Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
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Average Fee
Credit Card Loan Interest Rate
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Net Worth Classification
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