The best five year CD rate in Virginia is just a hair under 5.00%.  Acacia Federal Savings Bank promotes their five year CD with an interest rate of 4.90% APY.  The minimum deposit to open this account is $500.00.  With CD rates spiraling downwards after the most recent fed funds rate reduction, finding CD rates at this level is becoming more difficult.  Along with this bank CD, Acacia also offers an attractive15 month CD that yields 3.95% APY.  To round out some of the bank CD offerings, a 6 month CD has an interest rate of 3.00% and the two year CD with the bank pays a rate of 4.05%.  These certificates of deposit also have a low $500.00 minimum deposit requirement.

According to the promotional material of Acacia Federal Savings Bank, the bank is a thrift institution which has been operating in the Washington DC Metro area since it opened in March 1985.  It is a subsidiary of the Acacia Life Insurance Company.
Acacia Federal runs its nationwide deposit operation and conducts regional loan production from one location in Falls Church, Virginia.

In 2007 Acacia Federal’s assets ended the year at $1.492 billion.  Earnings were $8.223 million.  Also during 2007, Acacia Federal doubled its retail mortgage sales force and had record months for mortgage production in June, July and August.

Acacia Federal’s principal activities are retail mortgage lending, construction lending, commercial and commercial real estate lending, deposit gathering and consumer lending. The bank’s web site offers interactive online banking for individual and business customers.

As a member of the UNIFI Companies and the community, Acacia Federal continues its commitment to service, financial stability and providing quality banking products to all segments of its markets.

Interest rates data was updated December 20, 2008.  Interest rates are subject to change without notice.  Additional conditions may apply.  Acacia Federal Savings Bank can be contacted at 800-950-0236.  The bank updates the interest rates on their consumer bank products on their website which is located at www.afsbonline.com.

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