It has become conventional wisdom that when it comes to retirement, social security and pensions will not provide enough funds for most people to maintain their current non-retirement lifestyle. In short, everyone now is advised not just to have some savings put away for retirement, but to have substantial savings. At Mass Bay, we can help get you there. With our IRA accounts, you can save painlessly right from your paycheck into accounts you control that offer all the available tax advantages. With a Mass Bay IRA, your money grows tax-deferred or tax-free, depending on the account you select – and the money’s always yours! We offer the following types of IRAs:


Most people can make tax-deductible deposits into a Traditional IRA up to the set government limit for the current year. Your funds then grow with taxes deferred until you withdraw them during retirement. Limits and restrictions often change, so consult your tax professional for your specific eligibility.

Traditional IRAs Brochure


Unlike Traditional IRAs, Roth IRA contributions are not tax-deductible. But while you pay tax on the funds you invest, your money grows tax-deferred, and you do not pay tax on withdrawals at retirement. You can also withdraw Roth IRA funds without penalty before retirement to cover certain other expenses. There are certain income limits for establishing a Roth IRA Account. Your tax professional can advise you on your individual situation for the current tax year.

Roth IRAs Brochure


Roth IRA vs. Traditional IRA

Coverdell Education Savings Accounts



Nowhere is it easier to save than at Mass Bay! From basic savings, to money market accounts, CDs, IRAs and Club accounts, Mass Bay has all of today’s best deposit options all in one place, ready to be tailored to your individual needs.  And nowhere is your money safer than it is at Mass Bay.

Insured for at least $250,000 by the NCUA, an agency of the US Government, your funds are also insured for all amounts above the federal limit by the Massachusetts Credit Union agency MSIC. Unlike brokerage and mutual fund deposit accounts, your savings at Mass Bay is safe from market volatility. We give you the high yields without the high risk.