We apply two statistical techniques to satellite measurements to identify a relationship between terrestrial water storage (TWS) and El Niño-Southern Oscillation (ENSO). First, we modified and used the least-squares regression of a previous study using longer records. Second, we applied a cyclostationary empirical orthogonal function analysis (CSEOF). Although the CSEOF technique is distinct from the least-squares regression in that it does not consider proxies, each method produces two modes (decadal and interannual), showing consistency with each technique in spatial pattern and its evolution amplitudes. We also compared the results obtained by the two methods for thirty watersheds, of which five watersheds were compared with previous studies. The combination of the two modes explains the total variance in most watersheds showing the role that interannual and decadal ENSO-related signals in understanding terrestrial water storage variability. The results show that the decadal mode, along with the interannual mode, also plays an important role in describing the local TWS.