VIA Credit Union

EIN: 350884006 Public & Societal Benefit

MARION, IN

Total Revenue
$25,849,601
Total Expenses
$20,618,217
Total Assets
$547,170,835
Net Assets
$64,234,695
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
IN
Phone
7656746631
Tax Period
2023-01-01 to 2023-12-31

VIA Credit Union, founded in 1936, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $25.8M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. The organization ran a surplus of $5.2M, a strong 20% operating margin.

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.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

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...

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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.

Program 2
Expenses: $0 Revenue: $0

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...

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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.

Program 3
Expenses: $0 Revenue: $0

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...

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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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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $23,640,454
Investment Income $2,209,147
Other Revenue $0
TOTAL REVENUE $25,849,601

Expense Breakdown

Grants Paid $25,250
Salaries & Benefits $7,700,429
Fundraising Expenses $0
Program Expenses $0
Other Expenses $12,892,538
TOTAL EXPENSES $20,618,217

Year-over-Year Comparison

2023 2022 Change
Revenue $25,849,601 $20,356,846 +0.3%
Expenses $20,618,217 $16,010,185 +0.3%
Net Income $5,231,384 $4,346,661 +0.2%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✓ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
7
Independent Members
6
Employees
124
Volunteers
13

Governance Policies

✗ Conflict of Interest Policy
✗ Whistleblower Policy
✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
10
$1,014,800
Total Directors
9
$278,012
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
N/A PRESIDENT/CEO/TREASURER OF THE BOARD 45.0
Officer Director
$236,193 $41,819 $278,012
N/A BOARD PRESIDENT 1.0
Officer Director
$0 $0 $0
N/A VICE CHAIRMAN 1.0
Officer Director
$0 $0 $0
N/A SECRETARY 1.0
Officer Director
$0 $0 $0
N/A SECRETARY (END 03/2023) 1.0
Officer Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A BOARD MEMBER 1.0
Director
$0 $0 $0
N/A Board Member (End 04/2023) 1.0
Director
$0 $0 $0
N/A BOARD MEMBER (BEGIN 07/2023) N/A
Director
$0 $0 $0
N/A CHIEF OPERATIONS OFFICER 43.0
Officer
$125,142 $31,085 $156,227
N/A CHIEF CONSUMER LOAN OFFICER 45.0
Officer
$113,832 $17,707 $131,539
N/A CHIEF HUMAN RESOURCES OFFICER 42.0
Officer
$119,741 $12,234 $131,975
N/A CHIEF FINANCIAL OFFICER 44.0
Officer
$151,640 $33,242 $184,882
N/A CHIEF MARKETING OFFICER 42.0
Officer
$100,266 $31,899 $132,165
N/A SVP of Business Lending 40.0
Highest
$100,085 $15,826 $115,911
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $25,849,601 $20,618,217 $547,170,835 $5,231,384
2022 $20,356,846 $16,010,185 $525,279,196 $4,346,661
2021 $18,473,040 $14,127,641 $517,398,165 $4,345,399
2020 $16,858,903 $15,417,664 $449,645,503 $1,441,239
2019 $16,839,844 $14,296,713 $395,968,027 $2,543,131
2018 $15,165,541 $12,674,106 $360,759,938 $2,491,435
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