SCHEDULE 14A
                                 (Rule 14a-101)

                     INFORMATION REQUIRED IN PROXY STATEMENT

                            SCHEDULE 14A INFORMATION
           Proxy Statement Pursuant to Section 14(a) of the Securities
                      Exchange Act of 1934 (Amendment No. )

Filed by the registrant [X]
Filed by a party other than the registrant [  ]

Check the appropriate box:
[ ]  Preliminary Proxy Statement     [ ] Confidential, for use of the Commission
                                         Only (as permitted by Rule 14a-6(e)(2))
[ ] Definitive Proxy Statement
[X] Definitive Additional Materials
[ ] Soliciting Material pursuant to Rule 14a-12

                              Wells Financial Corp.
- --------------------------------------------------------------------------------
                (Name of Registrant as Specified in Its Charter)

    (Name of Person(s) Filing Proxy Statement, if Other Than the Registrant)
- --------------------------------------------------------------------------------

Payment of filing fee (Check the appropriate box):
[X]  No fee required
[ ]  Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

         (1) Title of each class of securities to which transaction applies:
- --------------------------------------------------------------------------------

         (2) Aggregate number of securities to which transaction applies:
- --------------------------------------------------------------------------------

         (3) Per unit price or other  underlying  value of transaction  computed
         pursuant to Exchange Act Rule 0-11.  (set forth the amount on which the
         filing fee is calculated and state how it was determined):
- --------------------------------------------------------------------------------

         (4) Proposed maximum aggregate value of transaction:
- --------------------------------------------------------------------------------

         (5)  Total fee paid:
- --------------------------------------------------------------------------------

[ ]  Fee paid previously with preliminary materials.

[ ]  Check box if any part of the fee is offset as provided by Exchange Act Rule
     0-11(a)(2)  and identify the filing for which the  offsetting  fee was paid
     previously.  Identify the previous filing by registration statement number,
     or the form or schedule and the date of its filing.

         (1) Amount previously paid:
- --------------------------------------------------------------------------------

         (2) Form, Schedule or Registration Statement no.:
- --------------------------------------------------------------------------------

         (3) Filing Party:
- --------------------------------------------------------------------------------

         (4) Date Filed:
- --------------------------------------------------------------------------------







For Immediate Release                                     Contact: James D. Moll
April 6, 2001                                                     (507) 553-3151




                 Proxy Firm Backs Board of Wells Financial Corp.
                   Regarding Dissidents' Shareholder Proposal


In a report released  yesterday,  Institutional  Shareholder  Services (ISS), an
independent  proxy  advisory  firm,  recommended  that Wells  Financial  Corp.'s
shareholders  vote against a  non-binding  dissident  shareholder  proposal that
calls for the Company to solicit offers for the immediate sale of the Company.

During 2000,  current and former members of the dissident group, known as the PL
Capital Group, made offers to acquire the Company at a price of $15.00 to $17.00
per share. After obtaining an independent  valuation,  Wells' Board of Directors
rejected these offers,  in addition to another slightly higher offer from an out
of state  financial  institution.  These offers were rejected  because they were
lower than the financial advisor's independent valuation of Wells.

In support of Wells Financial  Corp.'s  opposition to the shareholder  proposal,
ISS states in their report,  "We agree with management,  in fact, that the board
has an  obligation  to sell only at a fair price,  and we further agree that the
board must play a crucial role in determining  what  constitutes  fair value and
what offers, if any, should be forwarded to shareholders for a vote."

Lawrence H. Kruse, CEO of Wells commented:  "We are pleased that ISS clearly and
unequivocally   endorsed  our  position  regarding  the  dissidents'   fire-sale
proposal." Mr. Kruse noted the following ISS comments in recommending  rejection
of the dissidents' proposal:

          ". . . Wells  Financial  does  not fit the  profile  of an  entrenched
          management team committed to remaining in office  notwithstanding  the
          cost to shareholders."

          "Management  took the  important  step of  engaging  the  bidders in a
          dialogue . . ."

          ". . . reflects a commitment to fair  consideration of the issues that
          is commendable and generally  reflective of management that is attuned
          to shareholder interests."

Kruse concluded:  "We urge all Wells  shareholders to vote in favor of the Board
of  Directors'   experienced  nominee  and  against  the  dissident's  fire-sale
proposal.  The Board  remains  committed to acting in the best  interest of, and
enhancing value for, all Wells shareholders."

Wells  Financial  Corp.  has obtained the consent of  Institutional  Shareholder
Services to use the portions of their report cited above.