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News Now

CU System
Tornado damages CU in Minnesota
WADENA, Minn. (6/22/10)--A tornado last Wednesday reportedly wiped out Wadena (Minn.) FCU. “The credit union was destroyed,” Pete Skaalen, executive vice president of the Minnesota Credit Union Network, told News Now Monday morning. “The roof was blown off and the windows blown in and ruined. We don’t know the exact extent of the damage at this point. We know nothing further than we did last Friday.” State and National Credit Union Administration (NCUA) regulators worked through the weekend “to get the operation up and running,” he added. “We don’t at this time know if it is up and running yet,” Skaalen said. “It was about a $10 million asset credit union with about two full-time employees. We will try to communicate with other credit unions to see if there are any other needs that have arisen.” Also, the offices of Woodco FCU, located in Lake High School in Millbury, Ohio, southeast of Toledo, were destroyed along with the school during a tornado on June 6. The credit union, led by CEO Juanita Zunk, immediately activated its disaster recovery plan and had the credit union running within days in a temporary space at CanDo CU, three miles away in Walbridge, Ohio (e-Lumination Newsletter June 16). Back-office operations are set up in CanDo CU’s conference room, and front-line services are operating out of a vacant position on the teller line and dedicated drive-thru lane. Despite the overwhelming circumstances, the disaster recovery plan is so detailed that it’s guiding the staff and board through every step they need to take, Mark Sommer, CEO of CanDo CU, told the Ohio Credit Union league. The NCUA, Ohio Credit Union Foundation, and several credit unions throughout Ohio are offering assistance to Woodco FCU.
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