Banking Rates & News

Norfolk Metro Area

Including Virginia Beach, Norfolk, Chesapeake, Newport News, Williamsburg, Suffolk, Hampton, Elizabeth City, Portsmouth, Yorktown, and 50 other towns.

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Banking in the Norfolk Area

Norfolk is in southeast Virginia, located at the mouth of Chesapeake Bay. It is the second-largest city in the state, with about 250,000 people, and is part of the wider Hampton Roads metropolitan area, which, with about 1.7 million people, also is second largest in Virginia. Other top cities in the region include Virginia Beach, Chesapeake, Williamsburg, Newport News, Hampton, Portsmouth, Suffolk, Elizabeth City, and Yorktown.

Norfolk does not have many banks locally headquartered for a city its size, but largely thanks to its role as a major Naval port and shipbuilding center, it has a lot of credit unions. There are only 10 banks with headquarters in the area, but there are 46 credit unions. Notable institutions headquartered in the region include TowneBank, Langley Federal Credit Union, Southwest Community CU, Bank of Hampton Roads and Bayport Credit Union. The oldest institution with headquarters in the area that still operates today is Farmers Bank (VA), which was established in 1919.

There are many other banks and credit unions with a presence in the Norfolk area. Altogether, there are approximately 680 total branches from more than 40 banks and 55 credit unions.

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Local Deals & News

12 Month No Penalty CD Up To 2.15% APY
It was at 2%, but appears to have been increased today by 15 bp. (Certainly there are better no penalty CDs out there. But if anybody still is holding a
Navy Federal Introduces 17-Month Add-On CD Special, 3.25% APY
Deal Summary: 17-month Share Certificate Special, 3.25% APY, $50 minimum/$50k maximum deposit, additional deposits up to $50k. Availability: Nationwide, but restricted to those with a military relationship. Navy Federal Credit
Special Certificate Available Now!
Certificate Special Offers Rates effective as of: 07 January, 2019 12:01 AM ET Special 17-Month Certificate (Share Only) $50 to open 17 months 3.20% 3.25%APY Limit one Special 17-Month Share Certificate per member.
17Mo CD (Non-IRA) Add-On @ 3.25% APY
Don't see it on their website yet (not surprised) but spoke to a NavyFed rep, and asked about new CD rates for the New Year, and was told that they
Possible New Promo CD Offering
On 12/22/18 at the conclusion of handling some IRA matters, I was advised by the CSR that NFCU would be offering a new promotional CD on January 7, 2019. No
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