• Time Certificates of Deposit provide customers with higher rates of interest for funds left on deposit for a specific lengths of time. By locking in terms, customers can look forward to guaranteed yields when the account matures. Sonabank offers a variety of CD terms, ranging from 90 days to 60 months.

• Sonabank’s Money Market Account earns competitive interest on a sliding scale. There’s no monthly service fee on balances of $2,500 or more. Plus, access your assets with up to 6 free withdrawals per month.

• Statement Savings Accounts require a daily balance of $100 or more with no quarterly service fee. Accounts pay competitive interest quarterly. Minimum balance requirements are weave for account holders under 18.

• Sonabank believes that saving should be simple. Each month, the rewards from your Kasasa® checking account are automatically transferred to your Kasasa Saver® account, where customers can earn interest on cash rewards and other personal savings.

• Individual Retirement Accounts offer customers the opportunity to save for retirement in tax-exempt or tax-deferred accounts. Sonabank offers both Traditional and Roth IRAs with various competitive interest rates and/or maturity dates.

• Sonabank’s CDARS program offers customers whose balances may exceed FDIC insurance limitations a way to insure that their deposits are always protected.

• Sonabank offers an array of Cash Management Services including ACH Origination, Remote Deposit Capture. Positive Pay® and Sweep Account Services — assisting businesses of all sizes with prompt and accurate funds management.
• Business customers may select free Business Online Banking and Bill Pay which provides account information and the ability to transfer funds among Sonabank accounts and to pay bills online. Sonabank also offers a more comprehensive Business Online Banking Service that provides in-depth record keeping, ACH services and ability to request records and other services online.
• Commercial Insurance Services are offered through a third party provider.

Sonabank designed and introduced a multi-faceted program to meet the unique needs of women business owners throughout Virginia. With personalized service and a wide array of financial products exclusively for entrepreneurial women, the P.O.W.E.R. program provides all the tools to succeed and flourish.

This Community Reinvestment Act (“CRA”) statement applies to the lending, investment and service activities of Southern National Bancorp of Virginia, Inc. (“Sonabank”) in connection with the CRA. The CRA and implementing regulations promulgated by the Federal Reserve Board for state member banks require such institutions to meet the credit needs of the communities they serve, including low and moderate income individuals, and those who reside in those communities.  It is the policy of Sonabank to adhere to the CRA within the scope of its resources and in a safe and sound manner.

Lending, service and investment activities at Sonabank are conducted in consideration of the credit needs of the bank’s entire community. Our community is delineated by our CRA assessment area which can be found in the CRA Public Notice resources on our webpage.  Assessment area delineation is solely for the purpose of complying with federal law and should in no way be interpreted to exclude any potential customer or group of customers.  Our assessment area may not and does not reflect illegal discrimination and does not arbitrarily exclude any low or moderate income areas.

Sonabank makes concerted effort to identity and address the credit needs of its communities. Sonabank as a company and through the efforts of its employees donates a substantial amount of time and resources to community events, financial literacy education and fund raising efforts.  On an annual basis, Sonabank donates to various causes across its 45-branch network. Bank employees and regional boards are instrumental in making recommendations for corporate donations.  Sonabank also ensures that its investments portfolio contains investments for the benefit of the communities it serves.  These investments signify Sonabank’s commitment to the improvement of housing and education in the communities served by the Bank.

Within the scope of its resources, we especially consider services to support small business, small farms and low to moderate income borrowers. This aim evidences Sonabank’s commitment to serving its entire community, which in turn will build a stronger community and a sounder, more profitable institution.