Acacia Federal Savings Bank Rates & Review

Acacia Federal Savings Bank Review

Acacia Federal Savings Bank, a thrift institution in the Washington, D.C. area since 1985, offers a variety of financial options to their customers, whether they are starving students or well heeled professionals.

Headquartered in Falls Church, Virginia, Acacia Federal Savings Bank is a subsidiary of Acacia Life Insurance Company, a UNIFI company. Acacia Federal Savings Bank provides both personal banking services and commercial banking services.

Online banking

Acacia Federal Savings Bank offers online banking for personal and commercial accounts. Customers can transfer funds within the bank and to other accounts at other banking institutions and credit unions, and can even open an account online. Customers can download their financial information to a spreadsheet or a software program such as Quicken to help manage their budget. The bank provides 24-hour access to bank statements and offers email notifications for minimum balance and payment schedule.

Checking account choices

Acacia Federal Savings Bank offers a wide range of account services, all of which are FDIC-insured to the current limit of $250,000 per depositor. The bank offers customers "Choice Checking", allowing the customer to choose the checking account that best meets their budget. One checking account is available without any fees or minimum balance requirements, although funds in this account will not earn interest.

For savings, customers can choose between a traditional savings account, a money market account and a CD. The tiered money market accounts allow customers with higher balances to earn a higher interest rate.