Embarrass Vermillion Federal Credit Union (EVFCU) will soon operate its Aurora branch out of a new 4,000 square foot building scheduled to open next month.

The credit union currently rents space in an Aurora-based Minnesota Power building that was recently purchased by Lakehead Constructors. Lakehead is one of the largest construction companies in northeastern Minnesota and is centralizing its operations in Aurora by utilizing the former Minnesota Power building and its adjacent land.

“Our new building will be privately owned by the credit union and allow us to remain in Aurora, contribute to the local property tax base, retain our employees, create construction jobs, and continue providing essential banking service to our members,” said Roxi Jensen, EVFCU president and CEO. “The Lakehead expansion and our new building are two very significant economic development projects on the east Iron Range.”

Founded in 1942, EVFCU has two other locations in addition to Aurora, one in Tower and one in Embarrass. The three locations combined have approximately 3,840 members. Credit unions are member-owned, not-for-profit organizations that accept deposits, make loans and provide other financial services similar to traditional banks. 

The credit union’s new building in Aurora will offer its members handicap accessibility, a drive-through window and face-to-face teller pods for enhanced service. “Teller pods are a recently emerging trend in the banking industry that create a barrier-free experience between our staff and our members, as opposed to traditional teller lines,” said Jensen. “Our members and tellers can complete transactions working side-by-side at the pods, which will enhance our member relationships while still providing security and privacy.”

There will be office space available for rent, potentially to a tenant that could offer members a value-added service such as a title company. In addition, an attached private meeting room with a separate entrance will be available to community groups and businesses during and outside of normal credit union business hours. Both the tenant and meeting space rentals can help offset building operation costs.

Iron Range Resources & Rehabilitation supported this project with a development infrastructure grant to the City of Aurora through taxes paid by Minnesota’s mining industry. Email Chris Ismil or call him at 218-735-3010 for more information.

Pictured above: an architectural rendering by DSGW Architects of the new Embarrass Vermillion Federal Credit Union building in Aurora and a construction photo. 

A new affordable housing development is under construction in Grand Marais, helping to meet one of the top economic development challenges identified by Cook County officials and businesses. When completed, the Village North development will consist of 21 rental units for low to middle income earners and will be a mix of stand-alone units, multi-unit buildings, renovated existing structures and new construction.

North Shore restaurateur and realtor Bruce Block purchased the property in 2016. It was once Gofer Cabins and Trailer Court, which operated for decades as a desirable affordable housing area, but eventually fell into blighted status.

“Twelve of the units are complete, and an additional nine units will be completed by spring,” said Block. “In addition, we have very preliminary plans for other multi-unit buildings with parking underneath and a view of the lake. When developed, those too would be affordable for low to middle income segments of the workforce.”

Block relocated to the North Shore area over two decades ago with his young family and experienced first-hand the process of integrating into the community, including finding a starter home at an affordable rate.

“Area resorts, healthcare facilities, retailers and other businesses have open positions to fill, but job applicants have cited the housing stock shortage as the number one deterrent from accepting jobs in our region,” said Mary Somnis, Cook County/Grand Marais Economic Development Authority (EDA) executive director.

According to Somnis, just over half of the Cook County housing inventory is second homes or vacation rentals. Cook County’s goal is to provide affordable housing for year round and seasonal workforce members.

The housing development is a financial and resource collaboration between Cook County, the EDA, City of Grand Marais, Building Blocks LLC and Iron Range Resources & Rehabilitation.

“We are so appreciative of the commercial redevelopment and development infrastructure grants from Iron Range Resources & Rehabilitation which helped make this project possible,” said Somnis. “The grants enabled our region to meet a tremendous workforce need, improve our region’s economy, and heighten the quality of life in Cook County.”

Email Chris Ismil or call him at 218-735-3010 for grant information.

The new Downtown Business Rehabilitation (DBR) grant program can help alleviate costs of code compliance construction and remodeling projects for downtown businesses located within the Taconite Assistance Area.

Businesses may be awarded up to one-third of the project cost (or up to $50,000). Eligible projects are related to code compliance with general construction, electrical, plumbing, elevators, ADA, lead and asbestos removal, mechanical and sprinklers. Up to 10 percent of the grant may be used for professional assistance such as architectural, engineering and design.

A small business and the communities in which they operate, can benefit immensely from code compliance upgrades, benefits such as improved land values, enhanced public image in downtowns that can help spur other economic development, improved safety, and reduced health threats. However, compliance upgrades may not be financially feasible for small businesses that operate on smaller profit margins.

“When the agency launched the Business Energy Retrofit (BER) grant program five years ago to assist small businesses with energy efficiency building upgrades, the response was remarkable,” said Whitney Ridlon, Iron Range Resources & Rehabilitation community development representative. “220 BER grants have been awarded to date, and we anticipate the new DBR pilot program to also have a strong response.”

DBR grant applications are due by Nov. 23, 2018, and $250,000 is available in total funding for fiscal year 2019.

Iron Range Resources & Rehabilitation funds the DBR program through taxes paid by Minnesota’s mining industry, and it is administered through a partnership with Arrowhead Economic Opportunity Agency (AEOA). To learn more, click here, email Vince Meyer at AEOA or call him at 218-735-6828. 

Club Entrepreneur will host a luncheon and networking event entitled "Mind the Gap: Understanding Consumer Behavior" on Tuesday, Sept. 25 at the Northland Country Club in Duluth at 11:30 a.m.  

Consumer behavioral patterns are rapidly shifting with multiple crosscurrents: Millennials are beginning to “adult” and change their priorities in spending, tax cuts are providing more cash in paychecks, yet rising inflationary trends could feel like we have less, not more, in the months ahead. 

Neely Tamminga, CEO and Chief Whiteboard Artist of DISTILL, an insights and advisory company to c-suites and boards, will present an economic view on the state of the consumer. She will also offer fresh proprietary insights as to why consumer behavioral shifts are underway, and importantly, what questions to ask internally to form more productive consumer strategies. 

Club Entrepreneur is a community of business professionals who meet monthly for networking, idea sharing and presentations from some of the country’s most respected innovators, catalysts and thought leaders. During each lunch hour session, participants are able to enjoy a meal, chat with peers and strengthen their network of personal and professional relationships.

Learn more and register for the Mind the Gap event.

Pictured is Neely Tamminga of DISTILL.