Annual Report

The 87th Annual Meeting of Via Credit Union was held virtually at the South Branch (4505 S. Adams Street) in Marion, Indiana on Saturday, April 29, 2023. A welcome was given by Board Chairman, Clyde Thornell. He mentioned that the full annual report is available for everyone on our website at: www.viacu.org/pdf/AnnualReport.pdf . Full biographies for each of this year’s nominees were included in the Notification of Annual Meeting in February, 2023.

The Business Meeting was called to order by Chairman Thornell at noon. It was determined by the Secretary that a quorum was present. Those in attendance at the meeting were: Clyde Thornell, Cindy Kohlmorgen, Roger Roth, Lou Roth, John Velasquez, Luis Velasquez, Juan Velasquez, Greg Maurer, Janie Maurer, Michelle Peterson, Debbie Parrie, Christy Burbank, Karen Mitchener, Kristen McDaniel, Lori Hardesty, Deleane Solomon, Lori Fiene, Jennifer Davis, Georgette Miller, Janna Matamoros, John Lightle and Susan Waggoner.

Susan Waggoner made a motion to accept the minutes from the 86th Annual Meeting as printed and distributed. A second was made by Roger Roth and the motion carried.

John Lightle made a motion and called for the “Report to the Membership” from the CEO, the “Supervisory Committee Report” and the “Report of the Board of Directors”. This was seconded by Greg Maurer and the motion passed.

Chair, Clyde Thornell called for any unfinished business and there was none.

There was then a call for new business by Chairman Thornell and there was none.

The Nominating Committee has nominated one member for each of the four (4) Board of Director vacancies and one member for the one (1) Supervisory Committee vacancy. A notice for nominees by petition was mailed to the membership in February. The Secretary received no nominations by petition. Due to having only one candidate for each position, the Board Chairman declared each nominee elected by general consent. The elected members of the Board of Directors are: Cindy Kohlmorgen for a one year term and Deleane Solomon, Clyde Thornell and John Velasquez each for a three-year term. The elected member of the Supervisory Committee is Jerry Showalter for a three-year term. Chair Thornell thanked the Board members for their willingness to serve. He also went on to thank the members of the Nominating Committee for their service. These members are: John Lightle (Chair), Butch Shockey and Roger Roth.

Chair Thornell called for any other business to come before this assembly. There was none.
Roger Roth is stepping down from his position as a Board Member after 37 years. Chair Thornell presented Roger with a plaque and thanked him for his many years of service to Via Credit Union.

Chairman Thornell also recognized the “carry-over” members of the Board of Directors and the Supervisory Committee. These Board members include: Greg Maurer and John Lightle. Supervisory Committee members are: Valerie McHarry and Dwight Ott. Also thanked for their service were the Board of Directors for the Credit Union Service Organization, Via Financial Group, LLC. These members include: Dan Brauchler (chairman), Jack Shaffner (Vice-Chairman), Cindy Kohlmorgen (Secretary/Treasurer), Dick Kibbey and Cathy Moritz.

CEO, Cindy Kohlmorgen gave brief remarks and then recognized the following employees, who reached milestone work anniversaries during the past year:

Chair Thornell gave closing remarks and recognized Samantha Bacon (Graphic Designer) for the theme and design of the Annual Report this year.

Chair, Clyde Thornell then declared the meeting adjourned at 12:09 pm.

John Velasquez
Board Secretary

Board of Directors Report

Via Credit Union continued its strong growth in 2023, ending the year with a net worth of 11.73% and paying out $6,355,353 in dividends during the year.

In the last year, President/CEO Cindy Kohlmorgen has created a plan to ensure ViaCU is equipped with necessary staff to address essential operational needs. This strategic move will maintain ViaCU’s sound financial standing and support future growth.

Many ViaCU staff members are long-time, dedicated, loyal employees that have served you, our members, for several years.

The Board’s goal is to continue providing this top-notch service by updating equipment and software to meet the challenges of this financial landscape. Safety and security of member assets are the Board’s top priority.

The Board wants to thank our members, for your trust and confidence in ViaCU for your financial needs.

Clyde W. Thornell
Board Chairman

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Supervisory Committee Report

The Supervisory Committee is responsible for making sure that the credit union’s financial records are in order and that internal controls are in place to protect the assets of the credit union and its members. The committee does this by making sure that an annual audit is conducted and by making sure that internal controls are tested regularly.

The specific activities of the supervisory committee utilized in accomplishing these responsibilities include, but are not limited to: hiring and working with an external audit firm, reporting audit findings to the Board, verifying closed accounts, conducting cash counts, monitoring employees’ and Board members’ loans, monitoring Board actions, reviewing dormant accounts, and reviewing internal controls.

In fulfilling these responsibilities, the Supervisory Committee works closely with Via Credit Union’s Internal Auditor.

Forvis, LLP performed an audit of the consolidated financial statements of Via Credit Union as of and for the year ended December 31, 2022. As a result, they issued an unmodified (or “clean”) opinion dated April 14, 2023, as to whether the consolidated financial statements of the Credit Union, as of and for the year ended December 31, 2022, are fairly presented, in all material respects.

Forvis, LLP has been retained to perform the audit as of and for the year ended December 31, 2023.

Members of Via Credit Union may contact the Supervisory Committee at P.O. Box 613, Marion, Indiana 46952-0613 to voice any concerns and questions regarding the operation of the credit union.

Jerry Showalter, Chair
Dwight Ott, Member
Doug Bryant, Member

The Nominating Committee submits the slate of nominees below for the Via Credit Union Board for a three year term, beginning April 2024.

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The Nominating Committee submits the nominee below for the Via Credit Union Supervisory Committee for a three year term, beginning April 2024.

As of December 31, 2023