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Nonprofiteer
← VIA CREDIT UNION

Form 990 for tax year 2023

Filed by VIA CREDIT UNION.

Totals

Total revenue
$25,849,601
Total expenses
$20,618,217
Contributions and grants received
$0
Grants paid
$25,250
Program service revenue
$23,640,454
Investment income
$2,209,147
Other revenue
$0
Total assets, end of year
$547,170,835
Total liabilities, end of year
$482,936,140
Net assets or fund balances, end of year
$64,234,695
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: INTEREST ON LOANS

    total $18,584,308 · related or exempt $18,584,308

  • 2b · Program service revenue: SERVICE CHARGES AND FEES

    total $2,318,271 · related or exempt $2,268,501 · unrelated business $49,770

  • 2c · Program service revenue: INTERCHANGE INCOME

    total $1,790,121 · related or exempt $1,790,121

  • 2d · Program service revenue: INSURANCE AND INVESTMENT PRODUCTS INCOME

    total $444,838 · related or exempt $248,969 · unrelated business $195,869

  • 2e · Program service revenue: OTHER REVENUE

    total $502,916 · related or exempt $502,916

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $2,338,384 · excluded $2,338,384

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7b · Less cost or other basis and sales expenses

    other assets $129,237

  • 7c · Gain or loss

    securities $0 · other assets -$129,237

  • 7d · Net gain or loss

    total -$129,237 · excluded -$129,237

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $25,250

  • 5 · Compensation of officers, directors and key employees

    total $1,014,800

  • 7 · Other salaries and wages

    total $4,780,131

  • 8 · Pension plan contributions

    total $448,963

  • 9 · Other employee benefits

    total $1,021,607

  • 10 · Payroll taxes

    total $434,928

  • 11b · Fees: legal

    total $5,262

  • 11c · Fees: accounting

    total $60,250

  • 11f · Fees: investment management

    total $35,592

  • 11g · Fees: other

    total $312,642

  • 12 · Advertising and promotion

    total $228,250

  • 13 · Office expenses

    total $1,012,239

  • 14 · Information technology

    total $710,812

  • 16 · Occupancy

    total $617,190

  • 17 · Travel

    total $47,125

  • 19 · Conferences, conventions and meetings

    total $85,894

  • 20 · Interest

    total $6,355,766

  • 21 · Payments to affiliates

    total $35,079

  • 22 · Depreciation, depletion and amortization

    total $567,078

  • 23 · Insurance

    total $28,137

  • 24a · Other expenses: PROVISION FOR LOAN LOSSES

    total $1,010,301

  • 24b · Other expenses: NETWORK FEES

    total $1,005,825

  • 24c · Other expenses: LOAN SERVICING & COLLECTION

    total $652,060

  • 24d · Other expenses: Other Expenses

    total $114,168

  • 24e · All other expenses

    total $8,868

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,616,574 · end of year $4,153,795

  • 2 · Savings and temporary cash investments

    beginning of year $4,909,031 · end of year $18,993,388

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $405,575,850 · end of year $430,573,384

  • 9 · Prepaid expenses and deferred charges

    beginning of year $802,069 · end of year $729,636

  • 10a · Land, buildings and equipment: cost or other basis

    $13,796,696

  • 10b · Land, buildings and equipment: accumulated depreciation

    $9,476,946

  • 10c · Land, buildings and equipment, net

    beginning of year $4,741,990 · end of year $4,319,750

  • 11 · Investments: publicly traded securities

    beginning of year $98,195,419 · end of year $80,241,239

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $190,550 · end of year $161,758

  • 15 · Other assets

    beginning of year $7,247,713 · end of year $7,997,885

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,696,963 · end of year $4,122,926

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $460,955,793 · end of year $478,813,214

  • 31 · Retained earnings, endowment or other funds

    beginning of year $59,626,440 · end of year $64,234,695

Mission and programs · 2023

Mission

VIA CREDIT UNION IS COMMITTED TO MEMBER SERVICE WHILE MAINTAINING FINANCIAL STABILITY. THE CREDIT UNION RETURNS THE PROFITS TO ITS MEMBERS IN THE FORM OF LOWER LOAN RATE, HIGHER SAVINGS RATES, AND FREE OR LOW COST SERVICES. SERVICES TO PEOPLE WHO ARE UNABLE TO OBTAIN THEM ELSEWHERE OR AS A VALUABLE ALTERNATIVE TO THE TRADITIONAL FOR-PROFIT BANKING SYSTEM. THE CREDIT UNION RECEIVES DEPOSITS FROM AND MAKES LOANS TO ITS MEMBERS PRIMARILY LOCATED IN THE INDIANA COUNTIES OF BLACKFORD, GRANT, DELAWARE, MADISON, AND MIAMI. THE MAJORITY OF ITS LOANS ARE COLLATERALIZED BY SPECIFIC ITEMS, INCLUDING CONSUMER ASSETS, RESIDENTIAL REAL ESTATE, AND MEMBER SHARE BALANCES.

Activities or mission (Part I)

PEOPLE HELPING PEOPLE ACHIEVE FINANCIAL SUCCESS.

  • VIA CREDIT UNION OFFERS SEVERAL DIFFERENT SAVINGS ACCOUNTS. MEMBERSHIP SHARES ARE REQUIRED FOR MEMBERSHIP; SECONDARY SHARES CAN BE NAMED DIFFERENTLY FOR BUDGETING PURPOSES AND CHRISTMAS CLUB ACCOUNTS. VIA CREDIT UNION ALSO OFFERS MONEY MARKET AND PREMIER MONEY MARKET SHARE ACCOUNTS AND SEVERAL DIFFERENT TERMS OF SHARE CERTIFICATES.

  • VIA CREDIT UNION OFFERS FREE CHECKING, REQUIRES NO MINIMUM BALANCE AND OFFERS UNLIMITED CHECK WRITING. MEMBERS ARE ABLE TO MANAGE THE CHECKING ACCOUNT THROUGH "VIA CONNECT", OUR INTERNET BANKING, VIA MOBILE OR VIAVOICE, OUR AUTOMATED TELEPHONE SERVICE. "VIA BILL PAY" ALLOWS YOU TO PAY YOUR BILLS ONLINE FOR FREE.

  • THE CREDIT UNION OFFERS NEW AND USED AUTO LOANS, HOME EQUITY LOANS, UNSECURED LOANS, MORTGAGES, BUSINESS AND CREDIT CARD LOANS AT COMPETITIVE LOAN RATES, FLEXIBLE TERMS AND AUTOMATIC PAYMENT OPTION OPTIONS.

  • THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARY, VIA FINANCIAL GROUP, SELLS INSURANCE PRODUCTS TO CREDIT UNION MEMBERS AND OTHERS FROM ITS MARION, INDIANA OFFICE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • CINDY KOHLMORGEN

    PRESIDENT/CEO/TREASURER OF THE BOARD

    Total calculated
    $278,012
    From this org
    $236,193
    From related orgs
    $0
    Other
    $41,819
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $236,193
    Bonus
    $0
    Other
    $0
    Deferred
    $21,709
    Nontaxable benefits
    $20,110
    Filer's total
    $278,012

  • CLYDE THORNELL

    BOARD PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • DELEANE SOLOMAN

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JOHN VELASQUEZ

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • TIMOTHY MITCHENER

    SECRETARY (END 03/2023)

    Total calculated
    $0
    Hours/week
    1

  • GREG MAURER

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • JOHN LIGHTLE

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Roger Roth

    Board Member (End 04/2023)

    Total calculated
    $0
    Hours/week
    1

  • VALERIE MCHARRY

    BOARD MEMBER (BEGIN 07/2023)

    Total calculated
    $0

  • DEBBIE PARRIE

    CHIEF OPERATIONS OFFICER

    Total calculated
    $156,227
    From this org
    $125,142
    From related orgs
    $0
    Other
    $31,085
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $125,142
    Bonus
    $0
    Other
    $0
    Deferred
    $11,818
    Nontaxable benefits
    $19,267
    Filer's total
    $156,227

  • GEORGETTE MILLER

    CHIEF CONSUMER LOAN OFFICER

    Total calculated
    $131,539
    From this org
    $113,832
    From related orgs
    $0
    Other
    $17,707
    Hours/week
    45

  • KAREN MITCHENER

    CHIEF HUMAN RESOURCES OFFICER

    Total calculated
    $131,975
    From this org
    $119,741
    From related orgs
    $0
    Other
    $12,234
    Hours/week
    42

  • LORI FIENE

    CHIEF FINANCIAL OFFICER

    Total calculated
    $184,882
    From this org
    $151,640
    From related orgs
    $0
    Other
    $33,242
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $151,640
    Bonus
    $0
    Other
    $0
    Deferred
    $14,174
    Nontaxable benefits
    $19,068
    Filer's total
    $184,882

  • MICHELLE PETERSON

    CHIEF MARKETING OFFICER

    Total calculated
    $132,165
    From this org
    $100,266
    From related orgs
    $0
    Other
    $31,899
    Hours/week
    42

  • Kolby Rosemeyer

    SVP of Business Lending

    Total calculated
    $115,911
    From this org
    $100,085
    From related orgs
    $0
    Other
    $15,826
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Provenance

Return type
form_990
Tax year
2023
Filed
25 October 2024
IRS schema version
2023v5.1
Source object
202432999349300803

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