Sep, 30, 2025 — OTIS FEDERAL CREDIT UNION is a federal credit union headquartered in JAY, ME with 1 branch location and about $283.18 million in total assets. Opened 72 years ago in 1954, OTIS FEDERAL CREDIT UNION has about 12,371 members and employs 29 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | OTIS FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 170 Main St JAY, ME 04239-4902 |
| Phone: | (207) 897-0900 |
| Fax: | (207) 897-3927 |
| Website: | https://www.otisfcu.coop |
| Branches: | 1 branch locations |
| Members: | 12,371 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 9349 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Oct 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $283,184,126 |
| CEO/Manager: | Christopher T Bouchard |
| Chairperson: | Duane Lake |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 21,437,993 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 35,725,723 |
| Unsecured Loans | 15,016,887 |
| Other Loans | 80,814,582 |
| TOTAL LOANS | 131,557,190 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -872,860 |
| Land And Building | 1,954,357 |
| Other Fixed Assets | 182,127 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 2,036,722 |
| All Other Assets | 0 |
| TOTAL ASSETS | 283,184,126 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 1,913,676 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 25,226,982 |
| Regular shares | 75,810,216 |
| All Other Shares & Deposits | 134,760,085 |
| TOTAL SHARES & DEPOSITS | 235,797,284 |
| TOTAL LIABILITIES | 237,710,960 |
| Regular Reserve | 0 |
| Other Reserves | 147,188 |
| Undivided Earnings | 45,325,978 |
| TOTAL EQUITY | 45,473,166 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 283,184,126 |
| INCOME & EXPENSE | |
| Loan Income | 6,173,438 |
| Investment Income | 4,400,042 |
| Other Income | 812,259 |
| Total Employee Compensation & Benefits | 1,864,337 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,641,712 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 680,721 |
| Cost of Funds | 4,198,717 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 3,071,571 |
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