Fraternal group opens bank office

Northwestern Financial Review, Mar 15-Mar 31, 2003

MWABank has opened its first physical location in Rock Island, Ill. The bank is a subsidiary of Modern Woodmen of America, a fraternal life insurance society headquartered in Rock Island.

The new bank's location presented some development challenges in terms of limited space. "It's a very unique space," said Steve Ollenburg, bank president. "It has a very odd shape and was a difficult space to build out, but it was most appropriate for us because of its proximity to the corporate offices of our parent company and to other consumer traffic in downtown Rock Island."

The bank worked with Waterloo, Iowa-based Kirk Gross Company to design a suitable space. "Location is key in the financial industry," said Bob Buckley, Kirk Gross Company president. "You often have to overcome some challenges of the space available to take advantage of prime opportunities."

With less than 800 square feet, the bank was able to have a sit-down teller counter, a stand-up counter, an office, as well as extra workroom. "We were able to achieve the level of privacy that we wanted for our clientele," said Ollenburg.