Bank Mutual to hold Appreciation Day Friday

• Winners

Ellsworth’s Bank Mutual was named Bank Office of the Year at Bank Mutual’s Northwest Region annual awards banquet earlier this year. In the back row (from left to right) are: Holly Hedrington, VP Administration of the Northwest Region, Terry Anderegg, Senior Vice President of Retail Sales, Loralee Kiefer, Sue Peterson, Sue Gulbranson, Tracey Hines, Jessica Dahl and Michael T. Crowley, Jr., CEO Bank Mutual. In the front row are: Vivian Klabough, Kathy Sauerwein, Raynee Farrell, Lesa Savage and David Baumgarten, Bank Mutual President. -- Photo submitted

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Two celebrations will be held Friday at Bank Mutual in Ellsworth.

The branch will hold its Community Appreciation Day at the same time Bank Mutual is commemorating 120 years of existence.

The Ellsworth branch began in September 1975 where Subway is presently located. It started out as First Federal Savings and Loan Association of Eau Claire and was the fifth location to open.

“We did everything on teletype,” said current manager Raynee Farrell, who started six months later. “There were no computers. If you did it wrong, you had to start over.”

The bank’s objectives were home and mortgage loans (checking accounts were non-existent). A $50,000 loan was considered extravagant back then.

Farrell and Sue Gulbranson were hired in 1976. Viv Klabough came in 1980. In 1993, the bank moved across the street to its present location, 385 W. Main St. Four years later, First Federal was purchased by Mutual Savings Bank.

Farrell succeeded Gulbranson as Bank Manager in 1998 after Gulbranson left to take a job in River Falls. Gulbranson came back eight months later and is now in charge of mortgage/lending.

For more please read the June 27 print version of the Herald.

Tags: business announcements, business, ellsworth