Doug Schaeffer photo

Doug Schaeffer

CRA Executive Director
Woodforest Bank


Lumberton, NJ

Doug is passionate about bringing transparency and innovation to economic opportunity for ALL. He is a financial executive with more than thirty years of experience managing critical business operations. Known for improving communications, bringing clarity to issues, and connecting stakeholders across complex organizations with external constituents: community development organizations, regulators, foundations, universities, and other financial institutions. Extensive background in strategy development, finance, treasury and corporate governance. Most recently, he led the improvement of a large community reinvestment program resulting in a regulator-approved strategic plan, improved examination results, and the transformation of the program into a sustainable profit oriented business. 

Doug started his career in banking as a teller in 1984 while attending college. Upon graduating, he worked for KPMG, GE Capital Mortgage, JPMorgan – Chase, and Ally Financial (formerly GMAC). He has held    multiple positions including Chief Financial Officer, Director-Operational Planning Officer, and Deputy General Manager, and Managing Director Treasury, Chief of Staff to CEO, Strategy Executive, and Community Reinvestment Act Executive. Doug joined the executive leadership team at Woodforest National Bank in October 2015 as EVP-CRA Director. He leads the Bank's Community Re-Invest Act efforts and is presently strengthening a growing team of CRA Analysts and Community Development Officers focused on serving the low- and moderate-income credit needs across the Bank's 17 states and 204 CRA assessment areas. 

Doug is a graduate of Drexel University (MS in Finance) and Rutgers University (BS in Accounting). 

Doug sits on the Boards of CEI Capital Management and National Association of Affordable Housing Lenders. He also sits on the Bankers Community Council of the National Community Reinvestment Coalition. He also volunteers time and supports Strong Women Strong Girls and other charities.