The Maunesha River flows through the village and does offer some opportunity for recreation. Perry Printing, Trek Bicycle and Van Holten canning are major industries in Waterloo. Marshall Millpond Marshall Millpond is a shallow impoundment of the Maunesha River. Water quality is considered poor as it suffers the same problems of other small millponds in southern Wisconsin. Millpond Waterloo Millpond is another impoundment of the Maunesha River on the west edge of Waterloo.
Water quality is believed to be poor, similar to other millponds in southern Wisconsin.
The dam is in poor condition and needs to be either repaired or removed.