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Woodtrust Bank Review

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Woodtrust Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Woodtrust Bank was founded in 1891 and is headquartered in Wisconsin Rapids, Wisconsin. It handles $433 million in assets and $349 million in deposits, classifying it as a medium-size bank. Woodtrust Bank lacks premium access to support representatives, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave the bank a 3.9 out of 5 stars, which means Woodtrust Bank is a good bank that deserves your consideration. Woodtrust Bank provides customers with multiple banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. Finding an institution with no-fee checking, in addition to a high interest rate savings account is your best option for gaining the most income on your deposits while maintaining convenient access to your funds.

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

Woodtrust Bank has a savings rate of 0.10%, which is poor in comparison to the national average. Woodtrust Bank's one-year and five-year term lengths CDs earn at a rate of 0.70% and 1.76%, respectively, while its highest-yielding money market account has a rate of 0.40%. Given its below average savings rate, you should think about choosing another bank to earn more on your deposits.

How Woodtrust Bank's Savings Rates Compare

Woodtrust Bank Savings 0.10 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 bank locations in Wisconsin. With mobile and web apps, Woodtrust Bank makes account access easy, even on the go. Woodtrust Bank gets moderately high praise from customers for its mobile app. With 5 customer reviews on both Apple and Android platforms, the Woodtrust Bank mobile app has an overall rating of 4.0 out of 5 (compared to the national average of 3.8). Woodtrust Bank's mobile app allows you to control your accounts by monitoring account balances, sending and receiving funds and accessing customer service. Woodtrust Bank gets an outstanding consumer satisfaction score due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored 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 ranks as a medium-size bank owning assets totaling $433 million as well as deposits totaling $349 million. Its Texas Ratio is 7.91%, suggesting a tiny opportunity of failure. 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 0.1% APY $1
Checking Account 0.05% APY $250
Certificates of Deposit
  • 12 Month: 0.70% APY
  • 24 Month: 1.20% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.66% APY
  • 60 Month: 1.76% APY
$500 for all terms
Money Market Accounts 0.3% APY 0.4% APY $10000 $15000

Woodtrust Bank offers several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. Woodtrust Bank does not have the best savings rate, which means you should consider 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. Woodtrust Bank's CD rates are fair as compared against the national average.

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Find a Woodtrust Bank Near Me

Woodtrust Bank has seven physical branches across the U.S.

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