JAY — On October 17, OTIS Federal Credit Union will join with 56,000 credit unions around the world in celebration of International Credit Union (ICU) Day. OTIS staff will be hosting an all-day commemoration at the Credit Union which will include baked goods and cider from Berry Fruit Farm, freshly popped popcorn, and a barbecue from 11:30 a.m.– 2 p.m.
There are 200+ million credit union members around the world—more than 100 million in the U.S. alone—and OTIS FCU joins them in celebration of the not-for-profit cooperative spirit that all credit unions share.
This cooperative spirit has led to life-changing opportunities for people everywhere who’ve wanted to start a small business, own a home or continue their education but were denied access to other financial institutions. In many parts of the world, people’s first taste of democracy is through their credit union, where “one member, one vote” is the governing structure.
At its most basic level, a credit union is people pooling their money to provide each other with affordable loans—it is literally “people helping people.” This is why OTIS FCU celebrates ICU Day: Credit unions empower people, wherever they are in the world or in life, to take control of their financial future.
The public is welcome to stop by the Credit Union on the 17th and celebrate with staff a movement that concerns itself with the financial success of all people.
ICUD
In 1948, the U.S. Credit Union National Association (CUNA) decided to initiate a new national Credit Union Day celebration. CUNA and CUNA Mutual Insurance Society set aside the third Thursday of October as the national day of observance.
International Credit Union (ICU) Day celebrates the spirit of the global credit union movement. The day is recognized to reflect upon the credit union movement’s history, promote its achievements, recognize the hard work and share member experiences.
The ultimate goal is to raise awareness about the tremendous work that credit unions and other financial cooperatives are doing around the world and give members the opportunity to get more engaged. The day of festivities for credit unions and financial cooperatives globally include fundraisers, open houses, contests, picnics, volunteering and parades.
About OTIS Federal Credit Union
OTIS Federal Credit Union was founded in April of 1954 by eleven local mill workers. 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 11,000 members and holds over $172 million in assets, employing 30 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.