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Annual Report

Year in Review 2023

Cindy Kohlmorgen

I am pleased to present you with our 2023 Annual Report. As you review our accomplishments in 2023, know that we are guided by our mission statement: “People helping people achieve financial success.” We strive to be more than just a financial institution to you, but a true partner in helping you achieve your financial goals and dreams.

Despite the ongoing economic uncertainties, Via Credit Union has continued to demonstrate resilience and adaptability. Our commitment to serving you remains unwavering, and we have strived to provide innovative solutions and exceptional service throughout the year. Our capital adequacy ratios continue to exceed regulatory requirements and we have strategically developed a succession plan to address essential operational needs, providing a solid foundation for future growth and stability.

We have made significant strides in enhancing the member experience. Our digital banking platform has been upgraded to provide greater convenience and accessibility, allowing you to manage your finances anytime, anywhere. We also invested in new IT infrastructure; leveraging technology and increasing our resources dedicated to keeping your information and our systems safe and available.

Community involvement remains important to ViaCU and we have continued our support to local initiatives and organizations. From financial literacy programs to community events, we remain committed to making a positive impact in the communities we serve.

We recognize the challenges that lie ahead but are confident in our ability to navigate them successfully. With the support of our Board of Directors, dedicated staff, and loyal members, I am confident that Via Credit union will continue to thrive and grow in the years to come.

I would like to express my sincere gratitude to our members for their continued trust and support, as well as to our Board of Directors, Management, and Staff for their hard work and dedication.

Thank you for being a part of the Via Credit Union family.

Cindy Kohlmorgen


Total Loans

Total Loans Chart

Five Year Growth

5 Year Growth Chart


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: . 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:

10 Years
Cris Kistler 2/1/12

15 Years
Lori Hardesty 2/12/08
Lacie Losure 2/26/08
Wanda Gadd 3/4/08
Beth Combs 4/30/08
Janelle Berryhill 5/22/07
Brittany Tiemeier 7/24/07

20 Years
Kathy Crouch 10/29/02

25 Years
Julia Monts 9/10/97 

30 Years
Robin Vermilion 11/10/92


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

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.

Cindy Kohlmorgen

Cindy Kohlmorgen

John Lightle

John Lightle

Valerie McHarry

Valerie McHarry

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

Doug Bryant

Doug Bryant

Notice was given to the membership in a timely manner that nominations for vacancies could be made by petition if received by March 11, 2024.

As of December 31, 2023

Assets 2022 2023
Loans to members 405,484,082 430,573,384
Cash on hand/on deposit 3,616,574 4,153,793
Investments 102,901,327 98,476,178
Land & Building 3,666,142  3,418,807
Furniture & Equipment 1,170,848 1,023,600
Share Insurance Fund 4,247,813 4,494,293
All other assets 4,192,398 5,030,768
Total Assets 525,279,183 547,170,822
 Liability & Equity    
Accounts Payable 2,109,545 2,182,718
Misc. Liabilities 2,587,419 1,940,208
Deposits 460,955,793 478,813,215
Statutory Reserve 23,121,577 25,708,291
Other reserve & undivided earnings 36,504,848 38,526,390
Total Liabilities & Equity 525,279,183 547,170,822
Statement of Income & Expenses    
Loans 13,808,861 18,584,308
Investments 1,810,762 2,412,920
Other 4,684,688 4,869,908
Total Income 20,304,311 25,867,136
Salaries & Employee Benefits 7,230,637 7,598,636
Administration & Operation 6,142,802 6,476,163
Member Insurance 23,908 22,864
Dues & Supervisory Fees 52,830 53,498
Total Expenses 13,450,177 14,151,162
Income After Expenses    
Non Operating Gain/Loss -55,262 -129,237
Dividends Paid 2,452,227 6,355,353
Net Income 4,346,644 5,231,384



ViaInsurance Agency

ViaCU offers a fall range of insurance products with personalized service and affordable prices available through various well-known carriers such as Nationwide, Progressive, Safeco and Western Reserve Group.

Insurance Coverage

Golf Cart
Recreational Vehicle

Mobile Homeowners
Farm Properties

Beth Combs is a licensed property and casualty Insurance Agent, with over 35 years of experience.

In addition, ViaInsurance has a licensed Life Insurance Agent, Beth Fitzjarrald. She is available to design a life insurance strategy to help protect our member’s families.

Members can contact either agent for a free, no obligation quote. They can examine the members’ insurance needs to ensure they have adequate coverage at a reasonable cost at 765.733.9058.

Insurance products are offered through ViaInsurance Agency, a subsidiary wholly owned by Via Credit Union. Insurance products are not deposits in, obligations of, or guaranteed by Via Credit Union and are not insured by the National Credit Union Share Insurance Fund (NCUSIF), or any other agency of the United States. Any insurance required as a condition of an extension of credit by ViaCU is not required to be purchased from ViaInsurance Agency and can purchased from an agent or insurance company of the member's choice.

ViaInvestment Services

Whether saving for a new home, a college education for children or a comfortable retirement, preparing for these and other financial needs can be a complicated process. ViaInvestment Services, available through CUSO Financial Services, L.P.* (CFS) is available to help our members establish a strong financial foundation. CFS is a broker-dealer formed for the express purpose of serving credit union members’ investment needs.

ViaInvestment Services is available to provide objective investment advice for every stage of life.

Financial Planning
College Planning
Retirement Planning

Automatic Investments
Life Insurance

To meet with a Financial Advisor for your planning needs please contact Dawn Zoda at 765.662.3700.

ViaInvestment Services office is located at 4505 S. Adams St, Marion, IN 46953.
Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. The credit union has contracted with CFS to make non-deposit investment products and services available to credit union members.