The $10 million Wadena Federal Credit Union, which lost its roof and with windows in last Wednesday's tornado through central Minnesota, was expected to re-open in temporary, rental space tomorrow with files and other equipment mostly intact, the CU's chairman, Brian Hillesland, said Monday.

Although area CUs offered assistance, the CU manager, Kim Pexsa, was able to find space in an undamaged building in an area unscathed by the storm and "it looks like we're really fortunate since we were looking for permanent space and this might be it," said Hillesland.

There was no water damage to the files and the computer and phones were to be turned on Tuesday to start serving the 1,600 members.

Both he and Pexsa have homes away from the tornado site though one of the employees "had her car parked out front and it was flattened," said Hillesland.

One of the CUs offering unneeded assistance to Wadena was the $140 million TruStar FCU of International Falls, which said when the storm hit it herded all of its employees into a vault. "Our disaster plan worked just fine and we were fortunate in avoiding the twister, which hit west of us," said Dale Johnson, president/CEO.

At Wadena FCU, members were informed of the new location through announcements on a radio station with phones being routed to the new location.

Continue Reading for Free

Register and gain access to:

  • Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.