Via Credit Union
- Assets
- $517.4m
- Revenue
- $18.5m
- Investments
- $0.0
- Employees
- 134
- Location
- Marion, IN
- Founding
- 04/2019
- Data as of
- 12/2021
- EIN
- 35-0884006
Organization Overview
Via Credit Union is located in Marion, IN. The organization was established in 2019. According to its NTEE Classification (W61) the organization is classified as: Credit Unions, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Via Credit Union employed 134 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Via Credit Union is a 501(c)(14) and as such, is described as a "State Chartered Credit Union, Mutual Reserve Fund" by the IRS.
For the year ending 12/2021, Via Credit Union generated $18.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $14.1m during the year ending 12/2021. While expenses have increased by 4.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SERVE THE FINANCIALLY-RELATED NEEDS OF OUR DIVERSE MEMBERSHIP WHILE MAINTAINING A SOUND, MEMBER-OWNED ASSOCIATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
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.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Abernathy Ceo/treasurer Of The Board | OfficerTrustee | 46 | $220,750 |
Cindy Kohlmorgen President | Officer | 45 | $152,667 |
Lori Fiene CFO | Officer | 45 | $117,671 |
Clyde Thornell Chairman | OfficerTrustee | 1 | $0 |
Deleane Soloman Vice Chairman | OfficerTrustee | 1 | $0 |
Timothy Mitchener Secretary | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Qsi Inc Equipment Maintenanc | 12/30/21 | $151,412 |
Dbsi Teller Curreny Machi | 12/30/21 | $288,069 |
Taylored Systems Telecommunication Se | 12/30/21 | $105,525 |
Appraiser Vendor Llc Appraisals | 12/30/21 | $166,200 |
Jack Henry And Associates Inc Core Processor | 12/30/21 | $328,188 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $17,726,057 |
| Investment income | $832,098 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$85,115 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,473,040 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $584,479 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,483,656 |
| Pension plan accruals and contributions | $411,851 |
| Other employee benefits | $1,018,552 |
| Payroll taxes | $379,908 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,516 |
| Fees for services: Accounting | $47,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,760 |
| Fees for services: Other | $239,949 |
| Advertising and promotion | $226,294 |
| Office expenses | $853,513 |
| Information technology | $523,758 |
| Royalties | $0 |
| Occupancy | $554,301 |
| Travel | $36,659 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,344 |
| Interest | $2,426,343 |
| Payments to affiliates | $34,178 |
| Depreciation, depletion, and amortization | $556,408 |
| Insurance | $38,756 |
| All other expenses | $174,145 |
| Total functional expenses | $14,127,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,358,972 |
| Savings and temporary cash investments | $53,240,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $345,326,666 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $805,422 |
| Net Land, buildings, and equipment | $4,884,860 |
| Investments—publicly traded securities | $102,905,674 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $219,343 |
| Other assets | $6,656,396 |
| Total assets | $517,398,165 |
| Accounts payable and accrued expenses | $3,572,421 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $458,545,965 |
| Total liabilities | $462,118,386 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $55,279,779 |
| Total liabilities and net assets/fund balances | $517,398,165 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beacon Credit Union Wabash, IN | $1,514,735,601 | $47,143,377 |
Vibrant Credit Union Moline, IL | $1,061,532,656 | $50,336,419 |
Indiana University Credit Union Bloomington, IN | $1,349,340,515 | $48,794,263 |
Andigo Credit Union Schaumburg, IL | $850,101,906 | $43,497,190 |
1st Midamerica Credit Union Bethalto, IL | $860,013,719 | $45,661,014 |
Great Lakes Credit Union Bannockburn, IL | $1,045,676,236 | $50,981,092 |
Financial Center First Credit Union Indianapolis, IN | $817,315,000 | $38,154,429 |
Hoosier Hills Credit Union Bedford, IN | $808,986,869 | $33,438,671 |
Numark Credit Union Joliet, IL | $604,429,082 | $32,569,723 |
Dupage Credit Union Naperville, IL | $557,263,458 | $27,754,068 |
Abbott Laboratories Employer Credit Union Gurnee, IL | $1,021,053,305 | $27,617,158 |
Tech Credit Union Crown Point, IN | $536,572,543 | $23,189,269 |