Featured Savings Rates
Featured Accounts

Woodforest National Bank

Popular Accounts at this Bank

APYACCOUNT TYPEACCOUNT NAME
0.75%5-year CD5 Year CD
0.15%1-year CD1 Year CD
0.10%SavingsPersonal Savings

Overview / Commentary
832-375-2000
1330 Lake Robbins Drive
The Woodlands, TX 77380

Founded in 1980 in Houston, Texas, Woodforest National Bank is a privately-owned bank now headquartered in The Woodlands, Texas. It operates well over 700 branch locations in several different states and offers both personal and business depository banking products.

As far as personal banking products go, Woodforest National Bank offers checking accounts, savings accounts, money market accounts, Certificates of Deposit (CDs), and Individual Retirement Accounts CDs (IRA CDs). Furthermore, it offers convenient online and mobile banking services to its personal banking customers.

Woodforest’s personal checking accounts offer a variety of interest rates, depending upon the account balance. Additionally, Woodforest offers a “Second Chance” checking account, with higher maintenance fees, for those “who have experienced previous bank account challenges.”

For personal savings options, Woodforest offers money market accounts, savings accounts, CDs with terms ranging from 1 month to 5 years, and IRA CDs with terms ranging from 6 months to 5 years.

On the business side, Woodforest offers both business checking accounts and business loans, in addition to a variety of services. Its business checking accounts offer a range of benefits, depending upon transaction volume and account balance. Much like the “Second Chance” personal checking account, Woodforest offers a “Second Chance” business checking account, for “business customers who have experienced previous bank account challenges.” Finally, there is a business money market checking account option, with competitive variable interest rates. However, like other money market accounts, there is a limit of 6 withdrawals a month. Excessive withdrawals will incur fees.

Second Chance Banking

Woodforest Bank is a bank located within Walmart stores. It is a second chance bank for people who cannot get bank accounts otherwise. I was really excited to find this bank because I really needed a second chance. I have banked with Woodforest for the past two years. There fees for using debit cards and making withdrawals are very reasonable. I have a special feature on my checking account where I am able to overdraw without penalty. That certainly comes in handy when I have unsuccessfully balanced my check book and overdrew. I would recommend this bank to other people needing a second chance. The start up fee is very reasonable and Woodforest meets all of their customers banking needs.

Woodforest bank offers customers what other banks cannot.

Posted by: Holibrid | Oct 7, 2017

I began banking with Woodforest Bank in February of 2017. At the time I was banking with Capital One. Capital One decided to close down all of their branches in Texas. So I had to search for a new bank for my financial needs. I went to First National Bank and the first impression the banker left on me was terrible. I had recently seen Wood Forest Bank inside my local Walmart. I went in and let them know I was interested in opening an account. They were extremely helpful, polite and professional. They opened up my bank account within 10 minutes and handed me a welcome good bag along with my new debit card. They printed my debit card right there and then! No other bank had ever done that for me. They informed me that they are open ever day of the week until 6pm. This was a big plus for me as I do a lot of business week round. I have been very satisfied with my experience with Wood Forest Bank and I intend to stay with them for a very long time.

What it lacks it makes up for in Customer Service.

I currently have been banking with Woodforest for about a year now. When I opened my account, I got my debit card the same day, and I remember really liking not having to wait for it to come in the mail. If i've ever had a problem the employees and manager have always taken the time to sit down and go through everything until I get all my questions answered. When I used to bank at bigger banks I felt like they didn't have any time for me. They have a mobile app that I use alot, and it hasn't given me any problems but I do kind of feel like the bank as a whole is a little behind. The things that the bigger banks offer this does not; ATMs do not take deposits, all tickets are handwritten and the mobile application leaves a bit to be desired although it does do many different things. The overdraft fee is $29 as opposed to some banks $32 and $34 fees so that is reasonable. They also offer a good second chance checking account if you have charge offs with other banks, and I hear that is something that not many banks will offer you. All in all the customer service here trumps any minor problems I have with them and I will continue to bank at Woodforest National Bank.

Bad Service

Posted by: kytola110 | Aug 16, 2017

The two women at the counter, were very rude. They did not know simple banking rules. When I asked to speak with a superior, they refused to provide me any contact information.

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Health

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4720
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.66%
Return on Equity - YTD20.37%
Annual Interest Income$116.6MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$5.27B$4.81B
LoansQ3 2017vs Q3 2016$3.70B$2.59B
DepositsQ3 2017vs Q3 2016$4.77B$4.28B
Equity CapitalQ3 2017vs Q3 2016$436.8MM$413.6MM
Loan Loss AllowanceQ3 2017vs Q3 2016$49.5MM$41.2MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$24.8MM$12.7MM
Real Estate OwnedQ3 2017vs Q3 2016$3.6MM$395.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Woodforest National Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Personal Savings
OTHER TIERS: 0.05% Up to $10k
0.10%*$10k*-Business Savings
OTHER TIERS: 0.05% Up to $10k

Woodforest National Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--BIG Money Market
0.05%--Business Money Market

Woodforest National Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%--Personal Platinum Plus Checking
0.05%$1k-Personal Choice Checking
0.05%$1k-Personal Sterling Advantage Checking
0.05%--Business NOW

Woodforest National Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-5 Year CD
0.50%$500-4 Year CD
0.25%$500-2 Year CD
0.25%$500-3 Year CD
0.15%$500-1 Year CD
0.05%$500-1 Month CD
0.05%$500-3 Month CD
0.05%$500-6 Month CD

Woodforest National Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-5 Year IRA
0.50%$500-4 Year IRA
0.25%$500-2 Year IRA
0.25%$500-3 Year IRA
0.15%$500-1 Year IRA
0.05%$500-6 Month IRA
Locations

Availability