Two older women ride bikes and enjoy their retirement thanks to a Roth IRA.

Roth IRA Accounts

Pay taxes on your contributions now so you can enjoy tax-free withdrawals later.

Request IRA Information

Fraud Alert

Jeanne D’Arc Credit Union will never call and ask you for your security or account information. If you receive a call claiming to be from us and looking for this information, please hang up and call us at 978-452-5001.

Jeanne D’Arc Credit Union will never call and ask you for your security or account information. If you receive a call claiming to be from us and looking for this information, please hang up and call us at 978-452-5001.

See the advantages of a Roth IRA Account

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    Tax-Free Withdrawals

    Do your future self a favor and pay your taxes now so you can get free money during retirement.

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    Earnings Grow Tax-Free

    You don’t need to pay taxes on the dividends you earn from investments so your balance grows faster.

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    Achievable Yearly Goals

    Set a goal to contribute up to $6,500 a year if you’re under 50 or $7,500 if you’re over, based on income.

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    Compatible With Other Plans

    You can often contribute to a Roth IRA on top of a 401(k) or other workplace retirement plan.

Jeanne D’Arc Credit Union Roth IRA

  • Best for members who:

    Best for members who:

  • Employment status

    Employment status

  • Contribution limits

    Contribution limits

  • Tax deductible contributions

    Tax deductible contributions

  • Tax on withdrawals

    Tax on withdrawals

  • Dividend Rate

    Dividend Rate

  • APY*


  • IRA CD Terms

    IRA CD Terms

  • Best for members who:

    Want to pay taxes on your contributions now so your withdrawals are tax-free during retirement

  • Employment status

    Must be employed or a non-working spouse

  • Contribution limits

    $6,500 per year if you're under 50 Tax Year 2023

    $7,500 per year if you're over 50 Tax Year 2023

  • Tax deductible contributions

    Contributions are not tax deductible

  • Tax on withdrawals

    No taxes on withdrawals if you're 59½ or meet exception criteria

  • Dividend Rate


  • APY*


  • IRA CD Terms

    See Certificates of Deposit Rates for IRA CD rates and terms

Get all the details on Roth IRA Accounts

A Roth IRA offers tax-free withdrawals during retirement because you make contributions from your post-tax earned income.

  • You must be employed or a non-working spouse to contribute to a Roth IRA.
  • There’s no maximum age for tax year contributions.
  • If you’re under age 50, the maximum contribution is $6,500.
  • If you’re 50 and older, the maximum contribution is $7,500.
  • Your contributions are made from your post-tax income and are not tax deductible.
  • Your earnings on investments can grow tax free.
  • You can make tax-free withdrawals of contributions and earnings after age 59½.
  • Before 59½, you will need to meet account criteria and pay taxes on your earnings.
  • Exception criteria includes being disabled or using the funds as a first-time home buyer.
  • No Required Minimum Distribution.

Choose a Roth IRA if you would rather pay taxes now so you can enjoy tax-free growth and tax-free withdrawals in the future.

Request IRA Information

A man calculates his contributions into a Roth IRA account.

More benefits of opening a Roth IRA with J'eanne D'Arc

  • Online and Mobile Banking

    Easily access your IRA and other accounts on your phone or another device.

  • Member Benefits

    Credit union members get discounts on travel, dining, entertainment, and more.

  • Deposit Insurance

    Your IRA is federally insured up to $250,000. The Massachusetts Share Insurance Corporation (MSIC) insures larger deposits.

  • Save on Fees

    Watch your money grow with no annual fee or monthly fee, plus enjoy lower rates on loans and higher yields on savings.

How to open a Roth IRA account

  • Step1
    Deposit $5

    Make sure a Roth IRA is the best choice for you, then get started with just $5.

  • Step2
    Make Contributions

    Make post-tax contributions on your earned income up to your annual limit.

  • Step3
    Get Benefits!

    Watch as your dividends grow tax-free then enjoy tax-free withdrawals when you retire.

The employees are all friendly and very helpful in answering all your questions

Linda S.

Get started

Contact our Retirement Plans Manager, Frank Sitnik. Call 978-323-4922 or contact via email.

Email Frank

FAQs about Roth IRA Accounts

Both Roth IRAs and Traditional IRAs let you make a certain amount of contributions each year based on your age and your total household income. The maximum contributions for both accounts is $6,500 if you’re under 50 and $7,500 if you’re over 50.

The main difference between the two accounts is how you want to handle the taxes:

  • A Roth IRA doesn’t allow tax deductions on your contributions because you make the contributions from post-tax earned income. Your future withdrawals are tax-free as long as you’re over 59½.
  • A Traditional IRA allows tax deductions on some or all of your contributions, depending on your income. This means your deposits and earnings can grow tax-free, and then you pay regular income tax on your withdrawals.

There is also a difference when it comes to early withdrawals:

  • Roth IRAs may have different withdrawal restrictions (or none) depending on the type of account you open (Retirement Statement Savings account, IRA Money Market account, IRA CD.
  • With a Traditional IRA, you may be subject to a 10% early withdrawal penalty before the age of 59 1/2 unless your withdrawal meets certain criteria.

Another key difference is that, after age 73, a Traditional IRA has Required Minimum Distributions (RMD) but a Roth IRA doesn’t require you to withdraw any particular amount at any time.

It’s a good idea to talk to a financial advisor or retirement specialist if you’re not sure about the best path forward. You can decide which IRA is best for you based on your ideas about your current and future income.

  • If you would prefer to contribute post-tax income now so you don’t have to worry about taxes in the future, you might prefer a Roth IRA.
  • If you need as much income as possible right now and you’re confident about your future income, you might benefit from the tax advantages of a Traditional IRA.

You may be able to withdraw contributions from your Roth IRA without paying taxes or penalties, even before age 59½.

Earnings withdrawn from a Roth IRA may be subject to a penalty, unless the account has been open for five years and one of the following apply:

  • You use the funds (up to $10,000) to pay for a first-time home purchase.
  • You use the funds to pay for qualified education expenses.
  • You use the funds for qualified expenses related to a birth or adoption.
  • You use the funds to pay for health insurance if you’re unemployed or unreimbursed medical expenses.
  • You become disabled or pass away.


Yes. You will need to check the exact terms of any workplace or employer-sponsored retirement plan. In many cases, you can open a Roth IRA in addition to your other plan but your contributions may be restricted.

There are two ways to move your IRA funds:

  • A Trustee Transfer which is done between financial institutions, with the paperwork being initiated by the receiving financial institution. This is not a reportable transaction to the IRS.
  • A Rollover is initiated when an individual makes a withdrawal by check from one IRA and deposits the funds into another IRA elsewhere within the 60 calendar day time limit.
  • The IRS imposes a restriction of one rollover per individual per 365 days. This is a reportable transaction to the IRS and must be indicated on your tax return for the year in which the Rollover is processed. We can assist you with these transactions.

The best way to move funds from a former employer-sponsored retirement plan (i.e., 401(k), Profit Sharing, 457 Plan, etc.) to an IRA is by a Direct Rollover. A Direct Rollover is the direct payment of your vested interest in an employer-sponsored retirement plan to an IRA Trustee or Custodian for your benefit.

You must initiate the rollover through the company that is handling your retirement plan. We can assist you in completing any documentation that is required by your former employer to initiate the process. Upon payout, you will receive a check from the employer plan manager that is made payable to “Jeanne D’Arc Credit Union FBO (for the benefit of) your name”.

The check may either be mailed directly to Jeanne D’Arc Credit Union or to you. If the check is mailed to you, it is your responsibility to make sure the check is deposited into your Jeanne D’Arc IRA account.

Checks should be made payable to:

Jeanne D’Arc Credit Union

FBO Member Name

Please mail check directly to:

Jeanne D’Arc Credit Union

Attn: Retirement Services

1 Tremont Place

Lowell MA 01854

No, there is no minimum age requirement to open an IRA account.

No. Jeanne D’Arc does not charge annual maintenance fees for IRAs.

No. Jeanne D’Arc does not charge annual maintenance fees for IRAs.

There are three different deposit options for an IRA:

  • An IRA CD (terms varying from 6 months to 60 months)
  • A Retirement Statement Savings account (with a variable rate of interest)
  • An IRA Money Market account (with a variable rate of interest)


More retirement and savings tools from Jeanne D’Arc Credit Union

  • Traditional IRA Accounts

    Let your contributions and earnings grow tax-free until you make withdrawals during retirement.

    Learn More

  • M3 Money Club Savings

    Get your child off to a great start learning valuable financial skills and earning big on their first $500.

    Learn More

  • Certificates of Deposit

    Once you’ve saved at least $250, you can earn great rates by putting a chunk of your cash into a CD account for 6 to 60 months.

    Learn More


*APY=Annual Percentage Yield. All rates are subject to change, after account opening, without notice. $5.00 Membership Account required.