JAY — OTIS Federal Credit Union posted an 9 percent bonus dividend and interest refund on Jan. 1, resulting in a total of $520,678.73 paid out to members for the year 2019, the credit union announced.
Over the past 15 years, OTIS FCU has returned more than $5,143,654 to both its savers and borrowers via this annual practice.
“We are thrilled to post our 15th bonus dividend and interest refund, surpassing the $5 million mark,” said Kim Turner, president/CEO of OTIS FCU. “Our existence and success are a result of our loyal members and dedicated employees. We know how hard our members work for their money. We want to ensure that they keep as much of their hard-earned money in their own pockets as possible, and our Bonus Dividend and Interest Refund is just one more way that we do that.
“This is a great way to say thank you to both our borrowers and savers – thank you!”
Added Sarah Hayes, director of marketing and communications, “Credit unions are financial cooperatives, and we really try to exemplify the guiding principles of cooperatives in all that we do. Our members are so much more than account numbers — they’re truly owners. We believe that when the credit union succeeds, our member-owners should rightfully share in that success in the form of returned profits.”
OTIS FCU’s bonus dividend and interest refund program is the only one of its kind statewide, and rewards members in proportion to their economic participation in the credit union.
PHOTO: From left, OTIS Federal Credit Union’s Kim Turner, president/CEO; Sarah Hayes, director of marketing and communications; Darice Dubreuil, vice president. (Submitted phto)