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Woodtrust Bank Review

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Woodtrust Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Woodtrust Bank first started operating in 1891 with headquarters in Wisconsin Rapids, Wisconsin. It owns $433 million in assets as well as deposits totaling $349 million, ranking it as a medium-size bank. Woodtrust Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 3.9 stars out of 5, Woodtrust Bank should be near the middle of the pack in your search for a bank. Woodtrust Bank has a selection of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. Woodtrust Bank has a fair savings rate; other popular banks have higher rates. Obtaining a checking account with no monthly fee as well as a savings account with a high APY at the same bank is the best bet for gaining the most income from your deposits alongside convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.9/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

With a savings rate of 0.05%, Woodtrust Bank ranks poorly in comparison to other U.S. banks. Its CDs feature a rate of 0.40% and 1.15% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.20%. Given Woodtrust Bank's noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How Woodtrust Bank's Savings Rates Compare

Woodtrust Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

NR
SmartAsset Average: 4.4

There is insufficient data on Woodtrust Bank's fees to provide a full SmartAsset rating.

Monthly Fee N/A 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

4.0
SmartAsset Average: 3.7

Woodtrust Bank is a brick-and-mortar bank, with seven total branches in Wisconsin. With mobile and web apps, Woodtrust Bank makes mobile banking easy, even on the go. Woodtrust Bank's online and mobile banking platforms get moderately decent ratings from users. With 5 customer reviews on both iOS and Android platforms, the Woodtrust Bank mobile app is scored at 4.0 out of 5 (compared to the national average of 3.8). Woodtrust Bank's mobile app allows you to manage your accounts by monitoring account balances, transferring funds as well as reaching support representatives. Woodtrust Bank receives a superb consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.7
SmartAsset Average: 4.8

Woodtrust Bank is a medium-size bank and manages $433 million in assets and deposits totaling $349 million. It has a strong Texas Ratio of 7.91%, signifying that Woodtrust Bank is in fine financial condition and unlikely to fail. Additionally, Woodtrust Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

7.91%
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 Woodtrust Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $1
Checking Account 0.03% APY $250
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 0.60% APY
  • 36 Month: 0.85% APY
  • 48 Month: 1.00% APY
  • 60 Month: 1.15% APY
$500 for all terms
Money Market Account 0.15% APY $10000

Woodtrust Bank has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. Woodtrust Bank does not have the best savings rate, which means you should consider taking a look elsewhere 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. Woodtrust Bank's CD rates are fair in comparison to other U.S. banks.

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Find a Woodtrust Bank Near Me

Woodtrust Bank has seven branches in the U.S.

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