Woodforest National Bank
{{Short description|Bank headquartered in The Woodlands, Texas}}
{{Infobox company
| name = Woodforest National Bank
| logo = Woodforest logo.svg
| logo_size =
| type = Private
| foundation = 1980
| location = The Woodlands, Texas, USA
| key_people = James Dreibelbis
(Chief Executive Officer){{cite web | url=https://www.bizjournals.com/houston/news/2019/01/18/woodforest-national-bank-promotes-executive-to.html|title=Woodforest National Bank promotes executive to president, CEO|first=Chris|last=Mathews|date= Jan 18, 2019}}
| industry = Financial services
| divisions =
| products = Banking
| revenue =
| net_income = 203.1 million (2024)
| parent = Woodforest Financial Group
| homepage = [http://www.woodforest.com/ woodforest.com]
}}
Woodforest National Bank is a privately held bank headquartered in The Woodlands, Texas. As of March 2020, it had more than 770{{Cite web |title=BankFind Suite |url=https://banks.data.fdic.gov/bankfind-suite/FinancialReporting/details/23220?establishedEndRange=3/27/2024&establishedStartRange=01/01/1792&inactiveEndRange=3/27/2024&inactiveStartRange=01/01/1970&incomeBasis=&institutionType=banks&limitEstablishedDate=false&limitInactiveDate=false&reportPeriod=20231231&reportType=demographics&unitType= |access-date=2024-03-27 |website=banks.data.fdic.gov}} branches in 17 different states.{{cite web|url=http://ir.westernunion.com/News/Press-Releases/Press-Release-Details/2013/Western-Union-and-Woodforest-National-Bank-Sign-Multi-Year-Agreement/default.aspx|title=IR, Western Union and Woodforest National Bank Sign Multi-Year Agreement|publisher=Andrew Silver|date=March 18, 2013|accessdate=March 18, 2013}} Woodforest National Bank is Walmart's largest retail partner, and also provides financial services for Sam's Club members. The bank also has a branch inside the main location of Houston's Gallery Furniture.
In addition to regular accounts, Woodforest National Bank offers "second chance" checking accounts for customers who have not remained in good standing with the check verification service ChexSystems, albeit with higher fees and a much longer probation period compared to traditional banks,{{cite web | url=https://www.baltimoresun.com/2012/03/05/when-you-cant-get-a-checking-account-where-do-you-go/ | title=When you can't get a checking account, where do you go? | publisher=Baltimore Sun | date=March 5, 2012 | access-date=March 29, 2012 | author=Ambrose, Eileen}} along with the same type of account for commercial customers.{{Cite web|url=http://www.woodforest.com/Small-Business/Products/Checking|title=Checking|website=www.woodforest.com|access-date=2017-08-17}}
Banking offices
In March 2013, Woodforest National Bank and Western Union reached a deal for the latter to provide wire transfer services from Woodforest locations.
Sponsorship
A five-acre facility located in the Woodlands Trade Center was created partly thanks to a $1 million donation from Woodforest National Bank. As of April 2013 it is
being renamed "Woodforest Food Bank Center for Montgomery County Food Bank". The food center is campaigning to raise $6.5 million to purchase and renovate a {{convert|60,000|ft2|m2}} facility. Contributions were also made by Anadarko Petroleum, Kroger, Walmart, and H-E-B.{{cite web | url=http://fatcatwebproductions.com/the_paper/content/montgomery-county-food-bank-launches-65-million-capital-campaign | title=Montgomery County Food Bank Launches $6.5 Million Capital Campaign | publisher=The Paper Magazine | date=April 19, 2013 | accessdate=April 19, 2013}}{{dead link|date=March 2025|bot=medic}}{{cbignore|bot=medic}} The Woodforest National Bank is sponsoring its annual 5K Tomball Dash, benefiting the Woodforest Charitable Foundation.{{cite web | url=http://impactnews.com/houston-metro/tomball-magnolia/local-5k-events-planned-for-saturday/ | title=Woodforest National Bank sponsors Tomball Dash | publisher=Impact News| date=November 8, 2013 | accessdate=November 8, 2013 | author=Tamra Santana}}
Conroe Independent School District sold naming rights for a 10,000 seat stadium in Shenandoah, Texas, for $1 million to Woodforest National Bank.{{cite web | url=http://www.chron.com/neighborhood/woodlands-news/article/CISD-is-ready-to-open-its-new-stadium-1627230.php | title=CISD is ready to open its new stadium | publisher=Houston Chronicle | date=2008-08-17 | accessdate=2013-05-04 | author=Stauffer, Kimberly}}{{cite web | url=http://www.chron.com/news/houston-texas/article/Conroe-school-district-sells-stadium-name-for-1-1815496.php | title=Conroe school district sells stadium name for $1 million | publisher=Houston Chronicle | date=2007-02-07 | accessdate=2013-05-04 | author=Lee, Renée C.}}
Fee disputes
Woodforest National Bank and the Office of the Comptroller of the Currency reached a $32 million settlement regarding the bank's continuous overdraft fees, and a 2014 class action settlement put an end to debit card transaction processing in the same order as check processing, potentially resulting in additional overdraft fees.{{cite web|url=http://www.occ.gov/news-issuances/news-releases/2010/nr-occ-2010-122.html|title=OCC, Woodforest National Bank Enter Agreement to Reimburse Consumers|publisher=Office of the Comptroller of the Currency|date=October 8, 2010|accessdate=April 23, 2012|archiveurl=https://web.archive.org/web/20130529165130/http://occ.gov/news-issuances/news-releases/2010/nr-occ-2010-122.html|url-status=live|archivedate=2013-05-29}}{{cite news|url=http://www.yourhoustonnews.com/courier/news/article_8a5eOfdf-382e-586e-85b1-1d9e644a0828.html|title=Woodforest to reimburse customers $32 million|author=Nancy Flake|date=October 13, 2010|accessdate=April 24, 2012|work=The Courier of Montgomery County|archiveurl=https://archive.today/20130209231116/http://www.yourhoustonnews.com/courier/news/article_8a5e0fdf-382e-586e-85b1-1d9e644a0828.html|url-status=live|archivedate=2013-02-09}}{{cite web | url=http://woodforestoverdraftsettlement.com/mainpage/Notice.aspx | title=Lunsford v Woodforest, Case No. 1:12-cv-00103-CAP: Notice | accessdate=March 19, 2014}}
References
{{Reflist}}
External links
- [http://www.woodforest.com/ Woodforest National Bank]
- [https://www.woodforestcharitablefoundation.org/ Woodforest Charitable Foundation]
- [http://www.woodforestfinancial.com/ Woodforest Financial Services, Inc.]
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