Woodforest National Bank is a

privately held A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...

bank headquartered in

The Woodlands, Texas The Woodlands is a special-purpose district and census-designated place (CDP) in the U.S. state of Texas in the Houston–The Woodlands–Sugar Land metropolitan statistical area. The Woodlands is primarily located in Montgomery County, with por ...

. As of March 2020, it had more than 788 branches in 17 different states. Woodforest National Bank is

Walmart Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...

's largest retail partner, and also provides financial services for

Sam's Club Sam's West, Inc. (doing business as Sam's Club) is an American chain of membership-only retail warehouse clubs owned and operated by Walmart Inc., founded in 1983 and named after Walmart founder Sam Walton as Sam’s Wholesale Club. , Sam's Cl ...

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 A check verification service provides businesses or individuals with either the ability to check the validity of the actual check or draft being presented, or the ability to verify the history of the account holder, or both. There are a number of d ...

ChexSystems ChexSystems is a check verification service and consumer reporting agency owned by the eFunds subsidiary of Fidelity National Information Services. It provides information about the use of deposit accounts by consumers. History In 1991, the age ...

, albeit with higher fees and a much longer probation period compared to traditional banks, along with the same type of account for commercial customers.

Banking offices

In March 2013, Woodforest National Bank and

Western Union The Western Union Company is an American multinational financial services company, headquartered in Denver, Colorado. Founded in 1851 as the New York and Mississippi Valley Printing Telegraph Company in Rochester, New York, the company chang ...

reached a deal for the latter to provide

wire transfer Wire transfer, bank transfer, or credit transfer, is a method of electronic funds transfer from one person or entity to another. A wire transfer can be made from one bank account to another bank account, or through a transfer of cash at a cash ...

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 facility. Contributions were also made by

Anadarko Petroleum Anadarko Petroleum Corporation was a company engaged in hydrocarbon exploration. It was organized in Delaware and headquartered in two skyscrapers in The Woodlands, Texas: the Allison Tower and the Hackett Tower, both named after former CEOs of ...

Kroger The Kroger Company, or simply Kroger, is an American retail company that operates (either directly or through its subsidiaries) supermarkets and multi-department stores throughout the United States. Founded by Bernard Kroger in 1883 in Cincin ...

, and H-E-B. The Woodforest National Bank is sponsoring its annual 5K Tomball Dash, benefiting the Woodforest Charitable Foundation.

Conroe Independent School District Conroe Independent School District (CISD) is a school district in Montgomery County, Texas. The district's headquarters are located in the Deane L. Sadler Administration/Technology Center in Conroe. The CISD area, which covers , is part of the ...

sold naming rights for a 10,000 seat stadium in

Shenandoah, Texas Shenandoah is a city in Montgomery County, Texas, United States. Its population was 3,499 at the 2020 census. It is the hometown of David Vetter, the famous "boy in the plastic bubble". In 1986, the Shenandoah city council renamed Tamina Scho ...

, for $1 million to Woodforest National Bank.

Fee disputes

Woodforest National Bank and the

Office of the Comptroller of the Currency The Office of the Comptroller of the Currency (OCC) is an independent bureau within the United States Department of the Treasury that was established by the National Currency Act of 1863 and serves to charter, regulate, and supervise all nation ...

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.

References

External links

Woodforest National Bank

Woodforest Charitable Foundation

Woodforest Financial Services, Inc.
{{Portal, Banks Banks based in Texas Companies based in The Woodlands, Texas Banks established in 1980