First Virginia Community Bank

Rates

Savings, Money Markets & CDs

For your future, the financial foundation begins with the Savings Account. From there, add CDs and IRAs. Put your money in a safe place where it will make more money. It's a tried-and-true method for safeguarding your hard-earned money.

First Statement Savings

First Virginia Community Bank can help you save for a new car, your child's education, or just a rainy day. We want you to achieve your financial goals, whatever they may be.
And, there is no minimum balance requirement!

Features:

Interest is compounded daily and credited quarterly
Free Online Banking, Bill Pay, and Electronic Statements

6 FREE Preauthorized, Automatic, Online Banking or Telephone Transfers per Statement Cycle*
Unlimited Withdrawals in Person or via FVCB’s ATMs

Interest earned on all balances
Low $ 5 minimum to open a First Statement Savings Account
*Federal Regulations prohibit more than 6 withdrawals and/or transfers each month to other accounts from a Savings Account (including transfers to another account for overdraft protection); or to third parties by either preauthorized or automatic agreement, telephone, electronic or online transfer. A $ 3 fee will be assessed for each preauthorized or automatic checks/withdrawals/transfers over six per statement cycle.
Please see a Customer Service Representative for current rate information, calculation method, and to obtain a copy of our Truth in Savings Disclosure.

First Student Savings

Learning how to handle money at a young age can build the foundation for good financial habits. If you want to help a child learn to save, open a savings account for them. Savings accounts for kids earn interest and carry no monthly balance requirements, so they are perfect for student savers.

Features:

Designed for younger savers.
Minors can open an account for as little as $5
Unlimited teller transactions.
Interest compounded daily and credited quarterly.
Free Online Banking means students and parents alike have convenient 24 hour access to your account.

Interest earned on all balances
Low $ 5 minimum to open a First Student Savings Account
Transfers from a First Student Savings Account to another account or to third parties by preauthorized, automatic, telephone or computer transfer are limited to six per monthly statement cycle with no transfers by draft, debit card or similar order to third parties. ($3.00 charge per excessive withdrawal over six per month)
Please see a Customer Service Representative for current rate information, calculation method, and to obtain a copy of our Truth in Savings Disclosure.

Certificates of Deposit (CDs)

Make your money work harder for you. Whether short- or long-term, small or large investments, a First Virginia Community Bank Certificate of Deposit (CD) offers you the performance, power and options you need to grow your finances.

Open one of our No Penalty CDs and secure a competitive rate with the option to make a partial or complete withdrawal after 7 calendar days without penalty. Ask one of our customer service representatives for details on our CD specials.
Features:

Competitive rates.
Interest Compounded daily.
Low initial deposit - often only $1,000 minimum to open.
Flexible terms --No Penalty, Step Up and terms of 7 days to 5 years.
Interest can be added to your certificate and compounded, deposited directly to your FVCB account, or paid by check.

Certificate of Deposit Account Registry Service (CDARS)

Looking for a way to keep large deposits safe? Ask us about CDARS®.
It’s a great solution for: individuals, businesses, nonprofit organizations and public entities.

With CDARS, you can access FDIC protection on multi-million dollar CD investments through First Virginia Community Bank. There are few guarantees in life – FDIC insurance is one of them. CDARS can be a valuable for cash management or longer-term investment tool for you.

Why CDARS?
With CDARS, you can access:

Safety – Your money can access multi-million dollar FDIC insurance coverage.
Convenience – You work directly with us. You earn one interest rate; receive one regular statement, and one year-end tax form.
Community Investment – The full value of your money can support lending opportunities in your local community.
CD-Level Rates – Your money earns CD-level returns which may compare favorably with other investment alternatives including: treasuries, corporate sweep accounts, and money market funds.

How does CDARS work?
We are a member of a special network. When you place a large amount with us, we place your funds into CDs issued by other banks in the same network – in increments of less than $100,000 – so that both principal and interest are eligible for complete FDIC protection. As a result, you can receive coverage from many banks while working with just one.
These exchanges, which occur on a dollar-for-dollar basis, can bring the full amount of your original deposit back to our bank. Therefore, we can make the full amount of your deposit available for lending to business in our communities.

What else should I know?
You no longer have to spend time managing multiple bank relationships, administering various interest rates, organizing interest disbursements from various sources, or manually consolidating monthly statements. This reduces your administrative burden, especially during tax and financial reporting seasons.
And with CDARS, you can eliminate the need to monitor changing collateral values – another time saving convenience. And, of course, your confidential account information remains protected.

Ask us about how CDARS can work for you the next time you visit one of our branches, or email us for more information.

1 Funds may be submitted for placement only after a depositor enters into the CDARS Deposit Placement Agreement with First Virginia Community Bank. The agreement contains important information and conditions regarding the placement of funds by us. 2 This benefit applies to some, but not all types of CDARS transactions. Let us know if this benefit is important to you, so that we can explain the relevant terms and conditions in more detail.
CDARS is a registered service mark of Promontory Interfinancial Network, LLC

Please contact us at (703) 436-3800 for more information regarding these products and services.

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