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Woodlands Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Woodlands Bank Savings
0.07% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Woodlands Bank started in 1990 with headquarters located in Williamsport, Pennsylvania. Woodlands Bank manages $394 million in assets and $341 million in deposits, classifying it as a small bank. Woodlands Bank lacks premium access to customer service, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a score of 4 stars out of 5, Woodlands Bank should be near the middle of the pack in your search for a bank. Woodlands Bank has a selection of product offerings, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Woodlands Bank has a fair savings rate compared to the average savings account. If you're interested in stress-free personal checking, Woodlands Bank's most basic checking account does not have a monthly maintenance fee. Finding an institution with free checking, in addition to a high interest rate savings account is the best option for gaining the highest income on your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.0/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

3.2
SmartAsset Average: 3.5

With a savings rate of 0.07%, Woodlands Bank ranks poorly compared to the average U.S. bank. Woodlands Bank's one-year CD has a rate of 0.80% and the five-year CD earns at a rate of 2.50%, while its highest-yielding money market account has an APY of 0.07%. Given Woodlands Bank's noncompetitive savings rate, you should consider opting for higher earning savings accounts with other banks.

How Woodlands Bank's Savings Rates Compare

Woodlands Bank Savings 0.07 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

On average, Woodlands Bank charges customers extremely low fees compared to the national average. With no monthly fee, Woodlands Bank is ideal for people who want a basic banking experience. Woodlands Bank does not refund out-of-network ATM charges, meaning you'll be required to locate a Woodlands Bank ATM or accept the fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

3.2
SmartAsset Average: 3.7

Woodlands Bank is a brick-and-mortar bank, with eight total branches in Pennsylvania. With mobile and web apps, Woodlands Bank makes account access straightforward, even on the go. Woodlands Bank's online and mobile banking services receive mediocre marks from customers. The Woodlands Bank mobile app is rated at 2.6 out of 5 (out of 14 ratings on Apple and Android) compared to the national average of 3.8. Woodlands Bank's mobile app lets you manage your finances by looking at current statements, sending and receiving funds as well as accessing support representatives. Woodlands Bank receives a superb consumer satisfaction rating due to relatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 2.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.6
SmartAsset Average: 4.8

Woodlands Bank ranks as a small bank and has $394 million in assets as well as $341 million in deposits. Woodlands Bank's Texas Ratio is 9.03%, suggesting a small likelihood of failure. Additionally, Woodlands Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

9.03%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare Woodlands Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.07% APY $100
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.80% APY
  • 24 Month: 1.00% APY
  • 36 Month: 3.00% APY
  • 48 Month: 2.00% APY
  • 60 Month: 2.50% APY
$500 for all terms
Money Market Accounts 0.07% APY 0.07% APY $10000 $15000

Woodlands Bank has several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Woodlands Bank does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Woodlands Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Woodlands Bank Near Me

Woodlands Bank has eight physical locations in the U.S.

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