SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT

                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934



                Date of Report (Date of earliest event reported):
                                December 7, 2001


                              Wells Financial Corp.
             ------------------------------------------------------
             (Exact name of Registrant as specified in its Charter)




        Minnesota                     0-25342              41-1799504
 ----------------------------     --------------   ----------------------------
 (State or other jurisdiction     (SEC File No.)   (IRS Employer Identification
   of incorporation)                                       Number)


53 First Street, S.W., Wells, Minnesota                     56097
- ---------------------------------------                    --------
(Address of principal executive offices)                  (Zip Code)


Registrant's telephone number, including area code:     (507) 553-3151
                                                        --------------

                                 Not Applicable
          -------------------------------------------------------------
          (Former name or former address, if changed since last Report)



                      INFORMATION TO BE INCLUDED IN REPORT
                      ------------------------------------



Item 5.  Other Events
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         A copy of a press  release  issued  December 7, 2001 by the  Registrant
announcing  the  Registrant's  management  succession  plan to fill the position
being  vacated by  retiring  President,  CEO and  Chairman  Lawrence H. Kruse is
attached  hereto as Exhibit 99 and is  incorporated  herein by  reference in its
entirety.

Item 7.  Financial Statements, Pro Forma Financial Information and Exhibits
- ---------------------------------------------------------------------------

Exhibit 99 -- Press Release dated December 7, 2001.
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                                   SIGNATURES


         Pursuant to the  requirements  of the Securities  Exchange Act of 1934,
the  Registrant  has duly  caused  this Report to be signed on its behalf by the
undersigned, hereunto duly authorized.

                                        Wells Financial Corp.


Date:    December 12, 2001              By:/s/James D. Moll
                                           -------------------------------------
                                           James D. Moll
                                           Treasurer and Principal
                                           Financial and Accounting Officer
                                           (Duly Authorised Representative)