Important Information: Service Disruptions Starting 10/4
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Overdraft Privilege Disclosure

Overdraft Privilege (ODP) is a service we provide to our checking account customers to cover inadvertent overdrafts. The service is subject to the eligibility criteria and other constraints as explained below.

Overdraft Privilege Overview:

  • The payment of overdrafts is NOT guaranteed.
  • You are NOT required to have this service on your account – you may opt-out at any time.
  • You will be charged an overdraft fee for each insufficient item paid into overdraft.
  • If you overdraw your account, you MUST return the account to a positive balance within 30 days, or your Overdraft Privilege will be suspended.
  • There are other overdraft protection options available to you which may be less costly.

Overdraft Protection Options:

PRODUCT / SERVICE DESCRIPTION COST
Transfer from another account If you have other accounts with us, you can authorize us in advance to transfer the funds needed to cover overdrafts No Charge
Overdraft Line of Credit This product requires you to complete an application and approval and APR is based on your credit worthiness. APR
Overdraft Privilege See description below $35 per item

Overdraft Privilege

ODP is a service we add to your checking account to cover inadvertent overdrafts, subject to the eligibility criteria as explained below. With ODP we will generally pay your overdraft items up to $500 for personal accounts and $1,500 for business accounts, however, whether your overdrafts will be paid is discretionary and we reserve the right not to pay. For example, we typically do not pay overdrafts if your account is not in good standing, or you are not making regular deposits, or you have too many overdrafts. You will be charged our normal overdraft or return item fee currently $35 for each item that is presented. When more than one overdraft item is presented and paid, multiple overdraft fees may be charged. Both the amount of the overdraft items and all other fees, including but not limited to overdraft fees, are included in this limit. All deposits to overdrawn accounts are applied to the negative balance. Checking accounts that remain overdrawn for 45 consecutive calendar days may be closed and charged off.

Eligibility Criteria

No application is required; eligibility is at the discretion of the Bank. You may not be granted ODP if:

  • Your account has been open for less than 30 days
  • Your account type is not eligible
  • You are not making regular deposits
  • You are more than 30 days past due on any Bank loan or delinquent on any other obligation to the Bank
  • You are subject to any legal or administrative orders, levy, or are currently a party in a bankruptcy proceeding
  • You have an outstanding Overdraft Repayment Plan balance
  • Your account is being reviewed for fraudulent activity
  • The primary account owner is less than 18 years old
  • A ChexSystems or other negative indicator has been reported to us
  • Your account is classified as inactive
  • You have an unresolved prior loss with the Bank
  • We do not have a valid address for you

Suspension/Removal of Overdraft Privilege

You may be suspended or removed from ODP if:

  • You do not bring your account to a positive balance within 30 days of becoming overdrawn
  • You fail to meet the eligibility criteria
  • If you meet all of the criteria above, we may still remove ODP if we believe you are not managing your account in a responsible manner which may harm you or the Bank

Transactions Eligible for Overdraft Privilege Coverage:

  • Checks
  • Internet banking
  • ATM Transactions*
  • ACH transactions
  • Preauthorized automatic transfers
  • Debit Card Transactions*
  • In-person withdrawals

*Overdraft Privilege will only be available for ATM and everyday debit card transactions on consumer accounts if you authorize the Bank to pay those transaction types (see ATM/Debit Card Consent Form). Business accounts will automatically be opted in for all transaction types.

If you authorized ODP for ATM transactions, please verify your available balance before initiating an ATM withdrawal.

Overdraft Privilege Opt Out

If you do not want to have Overdraft Privilege, simply contact us and we will provide you an opt-out form to remove this benefit from your account. There is no additional cost for ODP. By opting out you are instructing us to return unpaid items presented against insufficient funds. If you opt-out, you may still be charged our $35 returned item fee. Customers who receive Social Security, federal direct deposit or any other entitlement benefit must opt-out if they do not want the Bank to apply those funds to pay an overdraft. If this is a joint account, I agree that the signature of only one accountholder is necessary for the Bank to revoke Overdraft Privilege.

Payment Order of Items

We pay items based on our actual (ledger) balance. The actual (ledger) balance method calculates your account balance only based on transactions that have settled, and it does not reflect pending transactions or checks that have not posted to your account. Debits to your account are received in groups and/or individually throughout the course of a business day. We process ACH debits and credits, phone and online banking transfers, checks drawn on Woodlands Bank accounts, and deposits and withdrawals made in person at Woodlands Bank branches throughout the course of a business day in real time, in the order they are received. Debit Card and ATM transactions are processed as received. Preauthorized transfers are processed on their due date. Electronic transactions, including ACH credit and debits, that are received after the end of the business day are processed first the following business day. We process checks presented for payment at locations other than Woodlands Bank second, in serial number order.

Financial Education

The Bank believes that financial literacy and education helps consumers make informed decisions. Awareness of personal financial responsibility allows consumers to realize the benefits of responsible money management, understand the credit process and the availability of help if problems occur.

www.mymoney.gov is the federal government’s website for federal financial literacy and education programs, grants and other information.

Checking Account Agreement

Your account agreement describes the duties, obligations, and rights of depositors, authorized signatories and the Bank with regard to your deposit accounts. That account agreement is incorporated herein for all purposes as if it were set forth verbatim as to matters not directly addressed by this disclosure. Your account agreement and this disclosure shall be construed so as to minimize conflicts between them.

Waiver:

The Bank’s forbearance from, or delay in, exercising any of the Bank’s rights, remedies, privileges, or right to insist on your strict performance of any provisions of your account agreement, this ODP disclosure, or any other provision related to your account, shall not be construed to be a current or future waiver of the Bank’s rights, remedies or privileges.

Remedy:

You and the Bank agree that the exclusive remedy and forum for all disputes arising out of the Overdraft Privilege or your Bank’s performance there under, except for matters you or Bank take to small claims court, is arbitration by an independent arbitrator pursuant to the applicable rules of the American Arbitration Association, except as prohibited by law.

Important E-Statement Information

We would like to inform you that our e-statement customers will not receive a special paper statement on October 4, 2024. This statement will continue as an e-statement. With access to e-statements being unavailable during our upgrade weekend along with the delay of this e-statement being made available to you through Online Banking, we wanted to provide you with options available to you to receive your statement.
If you would like to receive a copy of your paper statement recapping your account activity from your last normal statement issued through Friday, October 4, 2024, please do one of the following:
On or after October 7, 2024:
  • Call us at 570.327.5263 to request a paper statement be mailed to your address.

  • Visit your local branch to request a paper statement.

System Upgrade Important Information

Published 10/4/2024

Our System Upgrade will begin today, Friday, October 4, 2024 and continue throughout the weekend. Please see below for important times.
Online and Mobile Banking will be unavailable starting at 6:00 PM today, and will be unavailable until the afternoon on Monday, October 7, 2024. Please make note of your balances and plan for your cash needs during the System Upgrade. Your debit card will continue to work normally throughout the upgrade weekend.
Mobile Check Deposit will be unavailable starting at 3:00 PM today. Checks can still be deposited by visiting your local branch until 5:00 PM today.
Bill Pay will be unavailable starting at 4:00 PM today. All bills schedule for payment prior to this will process according to when they are set to be paid.
All offices will be closing at 5:00 PM today and will be closed on Saturday, October 5, 2024.
Please visit https://woodlandsbank.com/system-upgrade/ for all updates.
We look forward to growing your experience with us!

Important Notice

Change in Branch Hours

We want to inform you that we are making some changes to our branch office hours. These changes will go into effect on January 1, 2024. Our primary reason for changing our hours is to allow our employees to have a better work-life balance. In-turn, this allows us to better retain our excellent employees which results in even higher standards of customer service that our customers know and love.

View New Hours

We understand that our new hours may affect some of our customers’ normal routines and for that we truly apologize. We recognize change like this can be hard.

  • $1000.00 daily minimum balance to earn interest & avoid a $5.00 monthly service charge.

Qualifying Requirements include:

  • At least 1 bill pay or ACH payment transaction
  • At least 12 debit card purchases

Note: Enrollment in e-Statements is required in order to open a High Interest or Cash Rewards checking account.

IRA Management

Changing jobs or retiring can be an exciting step in your life, but figuring out what to do with your retirement plan and other retirement assets can be confusing. Woodlands Bank Trust & Asset Management Services is here to assist you in making the right choice and will help you to achieve your long-term retirement goals.

Institutional Investment Management

Companies or organizations that hold funds or other assets can rely on Woodlands Bank Trust & Asset Management Services to assist them in managing their resources for long-term benefits. We will provide investment management during a period of time or into perpetuity.

Charitable Investment Management

Non-profit organizations that hold funds or other assets from charitable donations can utilize Woodlands Bank Trust & Asset Management Services to invest those funds for long-term benefits. We will provide investment management during a period of time or into perpetuity.

Executor & Estate Settlement Services

Choosing a qualified executor is essential to the timely and efficient administration of an estate. Our estate settlement services include acting as:

  • Executor
  • Agent for Executor

Estate & Financial Planning Services

The most common mistake in financial planning is not having a plan—having a strong financial and estate plan is vital to your financial health. We will work with you and your estate attorney to craft a plan for your unique needs.

Asset Management & Custodial Services

We will work with an individual to design a portfolio to fit their specific needs and objectives. Our duties will be determined by the type of account chosen.

  • Investment Management Accounts
  • Institutional Investment Accounts
  • Custody Account

Personal Trust Services

A trust permits an individual to carry out personal and financial objectives while providing protection for themselves and their family. The trust agreement sets forth the wishes of the individual, and it is the trustee’s responsibility to carry out those wishes. As a trustee, we will provide impartial advice and counseling for beneficiaries, investment management of the trust assets, continuity of management and a full accounting of all transactions. We offer:

  • Living Trusts
  • Testamentary Trusts (Trusts Under Will)
  • Life Insurance Trusts
  • Special Needs/Situations (Guardianships, Charitable)
  • Agent for Trustee