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.

I love my Bank!

I have been banking with woodforest for over 3 years now! I dont think i would ever choose another bank after working with Woodforest. They offer an app on smart phones where all of your info needed is always displayed and updated correctly. The customer service (IN BANK) and online, and OVER the phone is excellent. Always quick, always helpful, they are always willing to help me with whatever need i may have. And NO monthly fees! They are excellent!

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!

Love them!

Posted by: ninaevans | May 21, 2018

I have had an account with Woodforest National Bank since I was 16(ish) years old and I'm now almost 25. They treated me like an adult from the get-go. It was really easy to set up an account. My branch is in our local Walmart. The staff is super friendly & know me on a first name basis. I'm emailed every morning with an overview of the day before. I get my checks from work deposited a day ahead of everyone else. I've never had an issue with someone stealing my information. Those that I know that've had that problem with this bank has had the issue resolved very quickly. I also love that they have late business hours and are open on weekends, as most banks are not.

Platinum Account Woes

Posted by: dla1946 | May 27, 2016

Several years ago, I opened a Platinum Plus account. Under the terms of this account, you are to receive access to funds immediately. The hang-up is that the tellers at the branches have a limited authority to accept the check for deposit-typically $1000 and at the Wal-Mart branches, a manager is often not on duty. After several episodes of waiting several minutes for the teller to make call after call trying to reach a supervisor, we are moving on. The final straw was when the teller balked at us depositing an Allstate claim check and we were both present with IDs. After standing there 10 minutes, we ripped up the deposit slip and took it to another bank. We weren't even trying to get any cash off it, just deposit!

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Health

Health Grade Components

Overall
FDIC Certificate #23220
Year Established1980
Employees4792
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD1.87%
Return on Equity - YTD22.22%
Annual Interest Income$104.1MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$5.83B$5.03B
LoansQ2 2018vs Q2 2017$4.30B$3.47B
DepositsQ2 2018vs Q2 2017$5.28B$4.55B
Equity CapitalQ2 2018vs Q2 2017$495.1MM$422.7MM
Loan Loss AllowanceQ2 2018vs Q2 2017$60.3MM$47.9MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$72.0MM$11.3MM
Real Estate OwnedQ2 2018vs Q2 2017$3.5MM$3.7MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Woodforest National Bank; we are a rate comparison website and cannot provide official rates or promotions.

* 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 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

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