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.

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.

A Bank That ACTUALLY Cares About Their Customers

Posted by: JasonInPa | Dec 28, 2011

About a year and a half ago, I was looking to open a checking account because another bank had charged me way too much for simple things like calling in and talking to someone at their office ($10 fee). I went to 2 other banks and they refused to open an account for me because of me refusing to pay the ridiculous fees the other banks charged me.

Then I was in my local Walmart and saw a bank there with a sign "2nd Chance Checking" so I stopped in and asked a few questions about their fees and such and then successfully signed up for an account with absolutely no problem. The branch manager, Andrea, personally opened my account and was very kind and friendly.

As the months passed by the tellers at Woodforest got to know me and always were very kind and always called me by my first name when I dropped by to deposit or withdraw money. By the way almost every deposit is available IMMEDIATELY! At the other bank, even though I'm sure they knew me, it seemed like I was just a number to them, maybe because I kept a lower balance than other customers, maybe because I had no huge loans with them, who knows. Also if I made a deposit that wasn’t cash it would take 1-3 business day(s), or more, to be available to me. Not at Woodforesst! The tellers at WOODFOREST always treated me like I had a million bucks in my account.

After having an account there for a year, in good standing, they upgraded my account to a free account with FREE $500 in overdraft protection that they called "privilege pay." At the other banks they made you apply for a line of credit to get overdraft protection, which, of course, they never approved for the average person! Not at Woodforest! They upgraded my account one day I was in there, making a deposit, surprising me! Wow, again making me feel like a treasured client.

At one point in time I had an overdraft, it got paid (thank goodness) and I got charged a $34 fee. Now its worth mentioning that while Woodforest only charged me ONE overdraft fee, the other bank would have charged me about 11 FEES because at my other bank they charged overdraft fees on” pending items” too. Again, NOT AT WOODFOREST. I went in that day and corrected my account making the balance positive and making sure my “pending transactions” didn't get any overdraft fees when they cleared. I talked to the manager that day and she told me that they limit the amount of overdraft fees that someone can incure in one day. Then she told me she would REFUND the overdraft fee if I completed an online banking education class (which took about 10 minutes to do) which was well worth the $34.00 I was refunded.

Another great thing about Woodforest is their online banking. You can log in anytime and see EVERYTHING going on with your account. For example, if I just went to the store and spent $50, there it was right on the screen. If I just got gas, instead of showing $1 it showed the actual amount. This is very helpful, in case you make a mistake. If you overspent, as long as you can make it to the bank before the "pending items" change to "posted items" (about 1-3 days) you can save yourself on fees if you make a deposit and bring your account to a positive balance. My other bank hid the "pending transactions" and just told you a total of them. Like I said earlier in this review, if you make a mistake and over spend, you will be charged fees on EVERY “pending item” that could be as much as $300+. NOT WOODFORREST!

Fast forward about 6 months. I woke up and checked my account online as I always do and there was an ACH for $200 that I did not recognize. It turned out to be fraud. Now this is what impresses me the most about Woodforest National Bank, the Vice President of the entire company (not just my local bank manager or a regional manager) this was the real deal Vice President of the bank (on a NATIONAL executive level) calling me from HIS CELL PHONE! A few questions and he fixed the problem RIGHT AWAY and told me to call him ON HIS CELL PHONE if I ever needed his help again. Now you tell me of a bank where the VICE PRESIDENT personally helped you out when your account only had a balance of $112.00 and gave you his cell phone number for future help if needed! Again, ONE MORE REASON I felt like I had a million dollars in my account.

To summarize, I would highly recommend this bank to anyone who wants a bank that not only says “We care about our customers….” but they ABSOLUTLEY really 100% do care about their customers. Thank you Woodforest for your AMAZING service. It’s the little things your bank does that counts. I’ve had bank accounts with around 25-30 banks in my lifetime and NEVER got the great service from anyone like I have from you. I’m just your ordinary guy who keeps an average of $300-600 in my account with “not so good” credit.  Keep up the good work and everyone will have accounts with your bank! Thank You, from your customer for life!

Alright for a last-chance bank

Posted by: PJC | Jan 16, 2017

I used Woodforest after some dumb decisions I made in college locked me out for several years of larger banks. Woodforest had a program for second chance bankers which fit my needs when I entered the job force. Their fees are a bit burdensome, but they are taking a bit of a risk on you as you are a "second chance", so it's understandable. Their customer service is really poor and their website and app are nothing to write home about.

However, if you really need a bank account and can't get one with a larger bank, they are a decent option to consider and I never felt fleeced during our relationship, However, once I was able to, I did move on to a bigger bank. So, essentially, consider them if you must and you'll be fine with their service. Nothing special, but nothing terrible. Just be thankful for the second opportunity.

Best Banking Experience I Have Ever Had.

Posted by: Sk8rX | Jan 8, 2013

The people are always friendly, knowledgable and helpful. It is actually a pleasure to go to the bank.

A few years ago, there was a time that a company overcharged me by not stopping an automatic charge when they should have. This put my account in the negative. The people at Woodforest forgave the overdraft, helped me to get things straight again, and made sure that company could not automatically charge my account again.

Great people. Great bank. I highly recommend them

 

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Health

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4794
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.68%
Return on Equity - YTD20.67%
Annual Interest Income$74.1MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$5.03B$4.81B
LoansQ2 2017vs Q2 2016$3.47B$2.74B
DepositsQ2 2017vs Q2 2016$4.55B$4.32B
Equity CapitalQ2 2017vs Q2 2016$422.7MM$410.2MM
Loan Loss AllowanceQ2 2017vs Q2 2016$47.9MM$42.6MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$11.3MM$10.6MM
Real Estate OwnedQ2 2017vs Q2 2016$3.7MM$466.00K
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

Raleigh Area

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