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Overview / Commentary
207-897-0900
P.O. Box 27
Jay, ME 04239

Otis Credit Union is headquartered in Jay and is the 19st largest credit union in the state of Maine. It is also the 1,240th largest credit union in the nation. It was established in 1954 and as of December of 2013, it had grown to 22 employees and 10,519 members. Otis Credit Union has a A+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Franklin County, Canton, Fayette, Hartford, Leeds, Livermore, Livermore Falls, Mount Vernon, Readfield, Turner, Vienna or Wayne. - See Details

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Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Otis Credit Union had $797,000 in non-current loans and owned real-estate with $22.56 million in equity and loan loss allowances on hand to cover it. This gives Otis Credit Union a Texas Ratio of 3.53% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Otis Credit Union experienced no significant changes from 3.19% as of December 31, 2012 to 3.53% as of December 31, 2013, resulting in a negative change of 10.81%. This indicates that the balance sheet and financial strength for Otis Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A

In the past year, Otis Credit Union has increased its total deposits by $4.24 million, resulting in 4.09% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Otis Credit Union has shown is excellent.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Otis Credit Union has $130.78 million in assets with $22.56 million in equity, resulting in a capitalization level of 17.25%, which is excellent.

Institution Statistics

Overall
NCUA #9349
Year Chartered1954
Employees22
Primary Regulator
Assets and Liabilities
Assets$130.78 million
Loans$68.18 million
Deposits$107.99 million
Equity Capital$22.29 million
Loan Loss Allowance$269,000
Unbacked Noncurrent Loans$733,000
Real Estate Owned$64,000
Historic Data - December 2012
Assets$125.74 million
Equity Capital$21.50 million
Loan Loss Allowance$232,000
Unbacked Noncurrent Loans$733,000
Real Estate Owned$28,000
Profit Margin - Quarterly
Net Interest Margin4.42%
Return on Assets0.61%
Return on Equity3.55%
Interest Income$3.67 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Otis Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Otis Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.20%--Coindexter Club
0.20%--Club Account

Otis Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$20k-Money Management

Otis Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.00%--Share Draft

Otis Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.75%$500-60 Month Share Certificate
1.40%$500-48-59 Month Share Certificate
0.90%$500-36-47 Month Share Certificate
0.60%$500-24-35 Month Share Certificate
0.45%$500-12-23 Month Share Certificate
0.35%$500-6-11 Month Share Certificate

Otis Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.75%$500-60 Month IRA Certificate (Traditional,Roth,CESA)
1.40%$500-48-59 Month IRA Certificate (Traditional,Roth,CESA)
0.90%$500-36-47 Month IRA Certificate (Traditional,Roth,CESA)
0.60%$500-24-35 Month IRA Certificate (Traditional,Roth,CESA)
0.45%$500-12-23 Month IRA Certificate (Traditional,Roth,CESA)
0.35%$500-6-11 Month IRA Certificate (Traditional,Roth,CESA)
Locations


Otis Credit Union Locations
Branch Office170 Main StJay, ME 04239-4902