Closed by last Saturday's tornado heavily damaging its offices, the $8.9 million Woodco Federal Credit Union in Ohio looks to resume skeletal operations today from its new temporary home in Cando CU of nearby Walbridge.
Under an existing disaster recovery pact with Cando, the staff of Woodco, located in Millbury, has been making arrangements with regulators and vendors to set up computers, PCs and Internet lines in Cando, said Mark Sommer, CEO of the $8.9 million Walbridge CU.
"We've been in touch our examiners and they've done likewise with NCUA and there are a lot of groups helping out," said Sommer citing assistance offered by CUNA, Toledo area CUs and the Northwest Chapter of the Ohio Credit Union League.
Sommer said it was his understanding Woodco has eight employees, some of whom may be part-time but none were injured in the tornado which destroyed the high school where Woodco is situated.
"I think the National Guard has now let them in to see what might be salvaged from their offices," said Sommer.