First Virginia Community Bank was founded in 2007 and is headquartered in Fairfax, Virginia. First Virginia Community Bank has $1 billion in assets and deposits totaling $931 million, ranking it as a medium-size bank. First Virginia Community Bank lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. Coming in at a commendable 4.4 out of 5 stars, First Virginia Community Bank is a solid pick to be your bank. First Virginia Community Bank has a mixture of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and credit cards. First Virginia Community Bank has a fair savings rate compared to the average savings account. Locating a checking account with no monthly fee as well as a savings account with a high interest rate at the same institution is your best option for returning the most income on your deposits alongside easy access to your funds.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.30%, First Virginia Community Bank ranks poorly in comparison to the average U.S. bank. Its one-year CD earns at a rate of 2.45% and the five-year CD earns at a rate of 2.90%, while its highest-yielding money market account has an APY of 0.40%. Given its below average savings rate, you should think about other options to earn more on your deposits.
How First Virginia Community Bank's Savings Rates Compare
There is insufficient data on First Virginia Community Bank's fees to provide a full SmartAsset rating.
First Virginia Community Bank is a brick-and-mortar bank, with seven total bank locations in Virginia. It also offers access to mobile and web apps for a simple mobile-banking experience. First Virginia Community Bank's online and mobile banking platforms get moderate feedback from customers. The First Virginia Community Bank mobile app rates a 3.7 out of 5 (with 3 ratings on iOS and Android) compared to the national average of 3.8. You can utilize First Virginia Community Bank's app to manage your finances by looking at monthly statements, sending and receiving money as well as accessing support representatives. First Virginia Community Bank gets an exceptional consumer satisfaction score due to comparatively few consumer complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.
First Virginia Community Bank is a medium-size bank and manages assets totaling $1 billion as well as deposits totaling $931 million. Its Texas Ratio is 3.70%, indicating a low chance of failure. Additionally, First Virginia Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.
Texas Ratio Analysis
The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.Back to Overview
Compare First Virginia Community Bank to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.3% APY||$1|
|Checking Account||0.1% APY||$1|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Accounts||0.35% APY 0.4% APY||$10000 $15000|
First Virginia Community Bank has several deposit products like savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. First Virginia Community Bank does not have the best savings rate, which means you should consider other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First Virginia Community Bank's CD rates are fair compared to other U.S. banks.Back to Overview
Find a First Virginia Community Bank Near Me
First Virginia Community Bank has seven physical branches across the U.S.Back to Overview