Acacia Federal Savings Bank Reviews, Ratings – Bank Rates
Acacia Federal Savings Bank has been a strong financial institution in the Washington D.C. area since 1985 and is a subsidiary of Acacia Life Insurance Company, which is a UNIFI Company. The bank is headquartered in Falls Church, Virginia and takes pride in providing quality services to its customers.
This financial institution provides personal and commercial banking services. With Acacia Federal Savings Bank checking account choices, an individual can surely meet any financial budget. They offer three different kinds of Choice Checking: Top Choice, Interest Choice and No Fee Choice. The Top Choice checking account requires a minimum $10,000.00 deposit and earns 20% APY. The Interest Choice checking account has a lower minimum deposit of $5,000.00 and earns 10% APY. For ultimate budgeting goals, the No Fee Choice checking account requires no minimum deposit; however, it does not earn interest.
With financial budgeting in mind, Acacia Federal Savings Bank also offers various savings accounts. The IRA Statement Savings account earns the most interest at 1.00% APY with a low minimum deposit of $50.00. Next in line is the Sensible Savings account, accurately named this because it has no minimum deposit and earns 0.10% APY. Acacia Federal Savings Bank also has a Tiered Money Market account and the minimum deposit must between $0-$125,000.00 and more. The interest earned on this savings account is obviously tiered, going from 0.10% APY all the way to 0.50% APY.
Certificates of deposits (CDs) are also provided to Acacia Federal Savings Bank’s customers in varying terms. All of the CDs require a $500.00 opening deposit and the highest rate available is with their 60 month CD, which currently earns 1.45% APY. Like previously noted, they offer a wide variety of terms such as 3 months or 9 months. An allowance is given to those who have IRAs with Acacia Federal Savings Bank and are given a special opportunity to open a CD with a cool $100.00 for CD terms 6 months or larger.
Like many other banks, Acacia Federal Savings Bank offers their customers a chance to do their banking at their fingertips. They provide online banking, so that customers can easily transfer money when needed or to check their account balance(s). Customers are given 24-hour access and the ability to download bank statements and other financial information. Regular email notifications can be scheduled for payment schedules or balance inquiries.
Acacia Federal Savings Bank strives to strengthen each customer’s financial situation with their products and services. They want to help achieve dreams and meet their customers’ goals and expectations. With the amazing services they offer, Acacia Federal Savings Bank is leading the way in the financial world.
Additional Information: Rates described are as of 8/29/11.