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Swot Example

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Submitted By tee2k14
Words 1237
Pages 5
Terrance Lafayette
Professor Melisko
07/27/2014
(SWOT) Woodforest National Bank
MGMT 303 Principles of Management

Woodforest National Bank started as one bank and a small community bank in 1980. The very first branch was open in the Houston, Texas market. The bank started out being just like any other bank until idea came along to open branches in-store. Woodforest became a retail partner with Walmart and in 1996 the first in-store branch was open. The branch offered seven day a week full service banking for customers with extended hours. In 1999 Woodforest opened four branches that would be 24 hour braches. By October 27, 2004 Woodforest now had 100 branches available to serve customer needs. In 2005 Woodforest created the Woodforest Charitable Foundation to support and invest in the communities which they serve. The company celebrated its 30th anniversary in 2010 which was big achievement coming from 1 branch to grow to 750. There are two things about Woodforest that stands out from any other bank, Woodforest is open every day with extended hours (also located in Walmart) and they offer Second Chance Checking to customers. Woodforest is open 364 days out of the year. Even though on some holidays the hours maybe shorter the bank still open to assist customers. It is a big deal for customers when the bank is open on Saturday and Sunday because some people work on the weekdays and don’t have time to get to the bank and with Woodforest you always have a chance to make it to the bank. Also the bank is open extended hours Mon-Fri 9am until 7pm. So customers that usually work a 9-5 job could not make it to another bank because most banks close at 5pm but Woodforest is open two extra hours after the other banks are closed. So it is a big advantage to be handling banking business while the competition is not open. Second Chance Checking product is also crucial

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