Woodruff Federal Savings and Loan

Celebrating 90 Years of Community Commitment

By Tracy Sanders, Co-Editor | Tracy@thewoodrufftimes.com

WOODRUFF, SC — As Woodruff Federal Savings and Loan marks its 90th anniversary, it is a testament to enduring values and community-focused service. Founded in June 1934 by a group of local businessmen, Woodruff Federal was established with a clear mission: to provide the residents of Woodruff a safe place to save their money and finance the purchase of land and homes.

A Legacy of Stability and Service
In its early years, the bank faced numerous challenges, including navigating the economic uncertainties of the post-Depression era. Over the decades, Woodruff Federal has evolved to meet the demands of an ever-changing banking landscape, adapting to new regulations, increased competition, and the advent of digital banking. Despite these changes, one thing has remained constant: the bank’s commitment to personalized, face-to-face service. “At Woodruff Federal, you are still greeted with a smiling face and can speak to a real person when you call in,” says Morgan Smith, the bank’s President and Chief Executive Officer. “We take pride in our tradition of doing face-to-face business.”

Deep Roots in the Community
Woodruff Federal’s connection to the community is a cornerstone of its operations. Many of the bank’s employees are either originally from Woodruff or have deep family ties to the area. This local connection fosters a strong sense of responsibility to give back. Over the years, the bank’s employees have served on boards of various community organizations, including Helping Hands, the Soup Kitchen, Habitat for Humanity, and the former Rotary Club. The bank is also a major supporter of youth athletics in the area, including the Woodruff Youth Recreation Association, Woodruff Youth Football League, and Hoops for Christ. “The good Lord has blessed Woodruff Federal, and we want to do our best to share that with our community,” says Smith. The bank’s involvement in community projects and events, such as supporting local athletics and participating in community fairs, is a testament to this commitment.

A Focused Approach to Banking
Woodruff Federal remains one of the last true “Savings and Loan” institutions in South Carolina, staying true to its roots with a focus on savings accounts, CDs, IRAs, and mortgages. “We believe in keeping our business model simple, but doing it the absolute best we can,” Smith emphasizes, quoting former President and current Board Chairman, Steve Scott: “We aren’t Baskin Robbins. We only have two flavors, but we believe they will be the best you can find.” This focused approach has resonated with customers who value the simplicity and personalized service that Woodruff Federal offers. “Our customers love that they don’t feel like just a number when they walk in,” says Smith. “For most of our customers, we are able to greet them by name and ask how their family is doing by name.”

Embracing Technology While Preserving Tradition
While Woodruff Federal is committed to maintaining its traditional, personalized service, it has also recognized the importance of adapting to modern banking needs. The introduction of online banking through the bank’s website and mobile app allows customers to manage their accounts, make mortgage payments, and communicate with the bank remotely. “We realize that people are busier than ever and can’t always stop in our one location, so we wanted to give them another way to access their funds,” Smith explains.

Leadership and Vision for the Future
The bank’s leadership, guided by the principles established by influential figures like Wayne Waddell and Steve Scott, remains focused on ensuring Woodruff Federal’s continued success. Waddell and Scott both played pivotal roles in navigating the bank through national economic crises, regulatory and local economic challenges. Their commitment to the bank’s mission has kept Woodruff Federal as one of the most respected financial institutions in the state.

Woodruff Federal’s current leadership team includes:
S. R. Scott, Chairman of the Board, Morgan C. Smith, President and Chief Executive Officer, Jessica Page, Vice President and Chief Financial Officer, Cathy Kirkland, Controller, Corey McCall, Assistant Vice President and Loan Officer, Casie Foster, Assistant Vice President and Loan Officer, Cynthia Lane, Head Teller and IRA Administrator

Looking ahead, Woodruff Federal is poised to continue serving the growing Woodruff community, welcoming new residents, and building lasting relationships. “Our vision for the future is simple: keep offering products that help our customers and the town of Woodruff, with the best customer service a person could find,” Smith states.

Celebrating 90 Years
To commemorate its 90th anniversary, Woodruff Federal hosted a special celebration on June 14, 2024, featuring a “one day only” CD rate that drew significant interest from the community. The festivities continued with an evening drop-in event where staff, community members, and local officials, including Mayor Gist and City Manager Lee Bailey, gathered to celebrate. The event featured music by Josh Godfrey, food, drinks, and giveaways, as well as a proclamation from the City Council honoring the bank’s 90 years of service. As Woodruff Federal Savings and Loan looks to the future, it does so with gratitude for the support of the Woodruff community. “It is an absolute honor to do business with the people of Woodruff,” Smith concludes.

With a legacy of trust, commitment, and community engagement, Woodruff Federal Savings and Loan is well-positioned to continue serving Woodruff for many years to come.