Serving our community since 1887

We know that life can sometimes take some unexpected turns, making the need for availability of liquid assets sometimes a necessity.

Passbook loans allow Woodsfield Savings customers to leverage the versatility of their savings account, certificate of deposit, or Woodsfield Savings Bank stock by taking out loans using these assets as collateral. Thus you do not lose the assets you have built but instead can use them to qualify for a loan at a reasonable rate (2% annual percentage rate (APR) above your existing annual percentage yield (APY) that we are paying you for a period of 183 days), which can then be paid off gradually.

This also helps avoid costly penalties and taxes that are associated with certificates of deposits or the sale of stocks, and gives our customers the freedom to choose how and when to spend their money.