Woodsville Guaranty Savings Bank

Woodsville Guaranty Saving Bank becomes the only financial shelter when people need the best loan and service. Yes, we are talking about a successful financial institution that not only earns reputation but also respect in the banking sector.

This bank is also specialized in mortgage and other loan facilities. Only a few banks have the caliber to offer these types of financial products at lower rates. But this bank dares to do that. This is the main reason, this bank and its services draw our attention.

Our expertise digs out more information and gathers it in one place. Keep reading, you’ll find what we are talking about.

Woodsville Guaranty Savings Bank is best for the loan
Picture: Woodsville Guaranty Savings Bank is best for the loan

What Is The Woodsville Guaranty Savings Bank?

As one of the oldest banks, Woodsville Guaranty Savings Bank started its journey in 1889. From the name of this bank, you can easily imagine where its to headquarter is. Yes, it’s headquartered in Woodsville, New Hampshire.

Despite being an old financial institution, this bank has $494 million in assets and deposits totaling $348 million. As a medium-sized bank, this one offers full-time banking services to its clients.

They may don’t have any live chat support, but it’s easy to reach them. Mobile apps and online banking make it possible for the client.

Read More: Story Behind The Rebrand of The Bank of Castile

Overall Status of Assists and Liabilities:

Here is the overall status of assets and Liabilities of this bank in 2021:

ParticularsQ1 2021Q1 2020
Assets$614.1 MM$504.4 MM
Loans$416.6 MM$387.4 MM
Deposits$512.5 MM$391.9 MM
Equity Capital$48.7 MM$48.9 MM
Loan Loss Allowance$5.1 MM$4.0 MM
Unbacked Noncurrent Loans$530.00 K$851.00 K
Real Estate Owned$104.00 K$313.00 K

What Types of Product does it offer?

As a fully functional financial institute, this bank offers a full suite of products like CDs, IRAs, Mortgages, and many more. Here is the list we have made of their offered product.

Personal Banking:

Deposit Accounts:

  • Checking
  • Savings
  • Banking for Kids
  • Health Savings Account
  • CDs & IRAs
  • CDARS
  • ICS

Loans:

  • Mortgage Loans
  • Mortgage Center
  • Consumer Loans

24 Hour Banking:

  • GOLD Internet Banking
  • Mobile Banking
  • CardValet
  • eZ Pay Bill Payment
  • Popmoney
  • Wallet Pay
  • eStatements
  • GAL Telephone Banking

Other Services:

  • Trust & Investment
  • ATM, Debit & Credit Cards
  • Card Services & Enhancements
  • Wire Transfers
  • Overdraft Protection
  • CyberScout

Business Banking

Deposit Accounts:

  • Checking
  • Savings
  • CDs & IRAs
  • CDARS
  • ICS
  • Cash Management

Loans:

  • Commercial Loans
  • PPP Loan Forgiveness
  • Commercial Lending
  • Special Loan Programs
  • U.S. Small Business
  • Administration –  SBA

24 Hour Banking:

  • Guaranty eCorp Banking Suite
  • Business Mobile Banking
  • Merchant Capture
  • eStatements

Other Services:

  • Cash Management
  • Positive Pay
  • Credit Card Processing
  • Trust & Investment
  • Sweep Accounts
  • Wire Transfers
  • Switch Kit
Online Banking makes banking easy
Picture: Online Banking makes banking easy

What Is Their Product Rate?

We made a chart to give you a quick view of the current rate for the financial product of this bank and here it is.

ProductCurrent Terms and RatesMinimum Balance for APY
Savings Account0.1% APY$100
Checking Account0.05% APY$500
Certificates of Deposit12 Month: 0.45% APY24 Month: 0.80% APY36 Month: 0.85% APY48 Month: 0.90% APY60 Month: 1.25% APY$1000 for all terms
Money Market Accounts0.15% APY 0.15% APY$10000 $15000

To manage your money with different financial products, this bank offers different rates. Some are good for you and some are not. Some of them are above the national average and few are lower than that.

Based on personal preference, you need to pick which financial product is best for you. In our point of view, the CD rate of this bank is fair enough for everyone, because it’s lower than the national average.

Popular Accounts At This Bank:

Not every product got the attention of people. Few of them are better and here it is.

APYAccount TypeHow They Compare
2.00%Reward Checking0.03% Citi Citi Priority
0.75%Reward Savings0.64% – National Average
0.70%5-year CD0.69% – National Average

Mortgage Rates and Charts:

Woodsville Guaranty Savings Bank primarily focused on the Mortgage and loan section, especially on a residential mortgage. Their current outstanding mortgages are $35,793,000 and commercial mortgage is $28,392,000. We’ve given more details below about the rate of the mortgage.

Conventional Fixed – 1-4 Family Owner Occupied and Second Homes – Up to $548,250

TypeTermRateAPRPointsPayment per $1000
10 Year Fixed10 Years2.375%2.937%1.000$9.37 
10 Year Fixed10 Years2.625%2.975%0.000$9.48
15 Year Fixed15 Years2.375%2.758%1.000%6.60
15 Years Fixed15 Years2.625%2.865%0.000$6.37
20 Year Fixed20 Years2.875%3.175%1.000$5.48
20 Year Fixed20 Years3.125%3.313%0.000$5.61
30 Year Fixed30 Years3.000%3.213%1.000$4.22
30 Year Fixed30 Years3.250%3.384%0.000$4.35
Get what you need from their website
Picture: Get what you need from their website

Read More: How To Refinance Your Investment Home

What about The Service Quality?

Financial Products along with the service quality decide whether the bank is good in business or not. In this case, Woodsville Guaranty Savings Bank is successful.

They’ve nine total branches. All the branches are located in New Hampshire. They know they must increase their network to reach people. So they introduced mobile apps and online banking.

Now clients who live miles away can easily get the required service from this bank. Yes, their apps and online banking give enough support to their clients to manage their money and account.

It becomes easy to transfer and receive money, paying bills, checking account status, and many more. Because of the best service, the mobile app got a 4.2 rating out of 5. Rating for their different services of this bank is given below.

  • Overall Mobile Rating (4.2/5)
  • Consumer Satisfaction Rating (5.0/5)
  • Online Banking Portal (No)
  • Live Chat (No)
Get quick access to your account
Figure 2Picture: Get quick access to your account

Conclusion:

Overall, Woodsville Guaranty Savings Bank is the best in service quality and that is reflected by its financial health and product. The management team of this bank loves what they are doing for this bank and their clients.

Clients are happy to get their desired financial product with ease. Our experts compare every type of service this bank offer with other banks. They found only a few issues that are not mentionable.

Otherwise, it’s best in banking especially for the section of loan and mortgage. You won’t think twice about opening an account at this bank or take another advantage when you know what they really can do for you. I hope this review makes you clear about it.

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