A woman analysing her financial status

As a member of the Financial Health Network, Woodforest is committed to providing effective solutions to improve the financial health of our employees, customers, and communities. These efforts help individuals and families thrive and build resilience:

Employee Stock Ownership Plan

Woodforest is privately-owned and its Employee Stock Ownership Plan (ESOP) is the largest shareholder. Woodforest offers all full-time and part-time employees the ability to build wealth through this unique benefit.

Second Chance Checking

Accounts designed to offer a second chance to customers who have experienced previous bank account challenges.

Consumer Loan Products

When life hands you the unexpected, a Woodforest ReLi® (Unsecured Revolving Line of Credit) can provide a low-cost alternative for short term borrowing needs. ReLi® loans can be as small as $500 for both consumers and small businesses to help manage short-term expenses. Offered as secured or unsecured and priced at a reasonable fixed rate over a 24-month term, these loans provide an outstanding alternative to "payday", "title", and other short-term, high-interest lenders.

Re-Starter Consumer Small Dollar Term Loan*

Starting in October 2017, WNB piloted a new small-dollar-lending product across five states for consumers. The Re-Starter product features a 12-month, no-fee, $500 term loan with a fixed rate of 15.99 percent as of December 31, 2018. In 2019, the Re-Starter product was rolled out to our entire 17 state footprint. Re-starter customers can take the entire year to pay back at a lower cost than a two week payday loan. A CFPB study found that more than half of borrowers roll their payday loan over 9 times. Due to its low cost and long term, compared to payday loans, the Re-Starter product is considered an innovative small dollar loan product.

*Consumers who do not qualify for a ReLi Loan are automatically considered for this product.

Woodforest Banking and Financial Education

Woodforest National Bank’s Financial Education program began in March of 2010 with an objective of providing individuals with valuable information on the basics of banking and personal finance.

During the 2015-2018 CRA exam period, Woodforest provided:*

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38,807

Financial Education Hours

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23,369

Classes

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141,473

Participants

*Information accurate as of 09.01.20.

Family Promise New Beginnings® Curriculum

Woodforest developed this program with Family Promise® to provide low-income families, including those that may be experiencing homelessness, the tools they need to achieve financial sustainability at no cost. This program is unique and flexible in that it can be taught to a family in a homeless shelter or to groups gathered in a classroom. Family Promise is a 200,000+ nationwide volunteer organization with a mission to help homeless and low-income families achieve sustainable independence.

2019 Independent Bankers Association of Texas Best of Community Banking Award (Silver)

Financial Education

Banking GPS

An online resource developed by Woodforest to provide a valuable three module course covering banking basics, checking account tips and debit card information to better manage personal finances. Woodforest customers can provide evidence of course completion to a Woodforest Retail Banker for a one-time convenience refund of an overdraft charge on their Woodforest account.

207,525

Banking GPS participants*

During the 2015-2018 CRA exam period

*Information accurate as of 09.01.20.

Improve your financial literacy with Banking GPS and other financial education resources and tools.

Woodforest National Bank

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