JAY – OTIS Federal Credit Union employees purchased Christmas gifts for six local children, utilizing funds raised by the staff.
The gifts were purchased in part with money from the OTIS Dress Down Fund, which staff contributes to weekly in order to participate in Casual Friday. These funds were then matched by the Credit Union.
OTIS Federal Credit Union, like other cooperatives, is governed by the Seven Cooperative Principles, one of which is Concern for Community. This initiative, along with many others undertaken by the Credit Union, exemplifies this guiding principle which OTIS strives to make a part of its everyday mission.
OTIS Federal Credit Union was founded in April of 1954 by 11 local millworkers. Pooling their respective deposits of $5 each, they associated themselves as charter members of OTIS under the provision of the Federal Credit Union Act. At a time in America when obtaining a loan was difficult for the average family, the founders of OTIS sought to form a cooperative, independent financial institution operated and controlled solely by its local membership.
Since its inception, OTIS has been committed not only to providing quality financial products and services to its shareholders, but to giving back to the community. Today, OTIS is a full-service financial center offering real estate, auto, and personal lending; online and mobile banking; a variety of checking, savings, and investment accounts; VISA debit and credit cards; financial planning; and much more. OTIS serves more than 10,900 members and holds over $168 million in assets, employing 29 people from Jay and the surrounding area. The credit union is located at 170 Main Street in Jay, Maine. For more information, please visit www.otisfcu.coop or call (207) 897-0900.
