Jeanne D’Arc Credit Union (Massachusetts) has raised the rate on its 48-month CD (2.15% APY). The minimum opening deposit is a low $250 and there is no maximum balance cap. This 48-month CD is also available as an IRA (Traditional, Roth, CESA, and SEP) at the same APY, with the same funding requirements.
This CD was originally introduced as a limited time CD Special in early October and the 2.15% APY lasted until early December.
As stated in the Jeanne D’Arc Credit Union (JDARC) Truth In Savings Disclosure, the Early Withdrawal Penalty is as follows:
If your account has an original maturity of more than one year:
The penalty we may impose will equal 180 days interest on the amount withdrawn subject to penalty
Membership in Jeanne D’Arc Credit Union is available to anyone who lives, works, or attends school in the Massachusetts Counties of Middlesex or Essex; the Massachusetts Cities of Fitchburg, Leominster, Harvard, Lunenburg or Lancaster; and the New Hampshire Counties of Hillsborough or Rockingham.
Joining JDARC can be done online, by phone, or in person at any of ten branches located in Lowell (3), Chelmsford, Dracut (3), Methuen, Tyngsboro, and Westford. A $5 deposit into a Membership Account (1.00% APY) completes the membership process.
While the JDARC website states that opening any account or product can be done online, this 48-month CD is currently not listed on the online application. CSR was surprised when I informed her that the 48-month CD is not listed as an option on the application. After speaking at length, CSR (with the help of JDARC’s IT person) managed a temporary workaround. If you would like to open this CD online, call JDARC first to ensure you can complete the transaction.
Thank you to the incredibly helpful and pleasant CSR.
Credit Union Overview
Jeanne D’Arc Credit Union has an overall health grade of "B+" at DepositAccounts.com, with a Texas ratio of 5.51% (excellent) based on September 30, 2014 data. In the past year, JDARC has increased its total deposits by $41.39 Million, an excellent annual growth rate of 4.88%. Please refer to our financial overview of Jeanne D'Arc Credit Union for more details.
The story of Jeanne D’Arc Credit Union (NCUA Certificate # 67352) is quite fascinating, and if you have an interest in American History or the history of cooperative banking in this country, it’s well worth the time to read the chronicle at We Share a Common Thread, JDARC’s non-profit foundation.
Jeanne D’Arc Credit Union was launched in 1911 and officially began operations as "the little bank around the corner" in the winter of 1912. Located in the heart of what was then a primarily Franco-American neighborhood and headquartered in St. Joseph’s (later named St. Jean Baptiste) Parish rectory on Merrimack Street in Lowell, Massachusetts, it started by safeguarding the "pennies and nickels" of St. Joseph School children. Its origins however, are part of a larger story, that of cooperative credit and the credit union movement.
How the CD Compares
When compared to other similar length-of-term CDs tracked by DepositAccounts.com, that require a similar minimum deposit and are available to Massachusetts residents, Jeanne D’Arc's 48-month CD is competitive.
The above rates are accurate as of 2/13/2015.
To look for the best nationwide CD rates and the best CD rates in your state, please refer to our CD rates table.