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Membership FAQs

1. Can I join Jeanne D’Arc Credit Union?

While many credit unions’ original fields of membership were quite selective, many have expanded to include everyone in the communities they serve. That means that if you live in, work in, or attend school in a particular geographic area, you can join. You can also invite your family to join Jeanne D’Arc Credit Union. Eligible family members include your spouse, children, parents, siblings, stepparents, grandchildren, grandparents, stepchildren, wards, and domestic partners.

2. What’s a field of membership?

A field of membership (FOM) defines a group or groups of people who are eligible to join. For example, Jeanne D’Arc Credit Union was opened to provide financial stability to immigrants who came here from all over the world to work in the mills.

3. What is Jeanne D’Arc Credit Union’s FOM today?

Jeanne D’Arc Credit Union’s FOM serves anyone who lives, works, or attends school in Middlesex or Essex counties, the cities or towns of Fitchburg, Leominster, Harvard, Lunenburg or Lancaster, or the New Hampshire counties of Hillsborough or Rockingham.

4. What does it mean to be a “member”?

First of all, credit union terms can be confusing. Even the term “credit union” misleads people. We are not a “union” in the typical sense, nor are we affiliated with any unions. There are no dues to pay, other than your initial $5.00 deposit into your membership account. The term “union,” in our case, simply means a united group of people. Everyone who has a membership account with Jeanne D’Arc is a “member.” Each “member” is an “owner” of the credit union. Each member has one vote, regardless of how much money they might have on deposit. So, when you “join” the credit union, you become a member/owner of Jeanne D’Arc Credit Union.

5. What do I need to join? Does it cost anything?

All you need to do is open a membership account with Jeanne D’Arc for $5.00. This money stays in your membership account until it is closed.

6. What are the benefits of joining Jeanne D’Arc Credit Union?

Recent studies indicate that the typical consumer can save over $190 annually by using a credit union! Why? We have fewer and lower fees than banks and provide you with the same products and services: checking, savings, debit cards, consumer and mortgage loans, online banking, online bill pay, mobile banking, online statements, ATMs, convenient branches and more. How can Jeanne D’Arc Credit Union pay more on savings while charging less for loans? Simply put, we’ve eliminated the “middle man.” Banks are owned by stockholders, and stockholders demand returns on their investments. Banks are PROFIT-driven. Jeanne D’Arc, and other credit unions, are SERVICE-driven. We’re not here to generate a profit, but to provide a service to our members. Any “earnings” are turned back to you, the member/owner, in the form of better rates and lower fees.