2025-06-09T19:25:28-07:00 2024-12-31 990 2024-01-01 956111723 ADELFI CREDIT UNION ADEL 7146715700 135 S State College Blvd Suite 500 Brea CA 92821 Nicolette Harms SVP/CFO 7146715700 2025-06-10 1 2024 2025-03-06 01:10:19Z Susan Rushing 135 S State College Blvd Suite 500 Brea CA 92821 35658099 0 X WWW.ADELFIBANKING.COM X 1964 CA Adelfi partners with individuals, families, Christ-centered ministries and businesses to protect, grow, and share their financial resources. 10 10 105 15 0 0 0 0 28268198 28099213 4343440 7558886 0 0 32611638 35658099 441550 204412 0 0 13289129 13471858 0 0 0 17564410 24502736 31295089 38179006 1316549 -2520907 568720887 633696393 479527510 550283501 89193377 83412892 Adelfi partners with individuals, families, Christ-centered ministries and businesses to protect, grow, and share their financial resources. Through their accounts at Adelfi, members help to advance the Kingdom, so that one (brother or sister in Christ) impacts many. 0 0 38179006 204412 35658099 Adelfi Credit Union provided credit union services to our members. Our membership totaled 16,289 as of December 31, 2024. 0 0 0 38179006 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5087 0 1 105 1 0 0 0 0 0 0 0 0 X 10 10 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Nicolette Harms 7146715700 135 S State College Blvd Suite 500 Brea CA 92821 Abel Luis Pomar Former President CEO 40 0 X X 776486 0 43199 Nicki Harms SVP CFO 40 0 X 443890 0 49041 Bentley Hatcher Former SVP Chief Lending Officer 40 0 X X 369676 0 36092 Charles Kelly SVP Chief Technology and Operations Officer 40 0 X 300388 0 42197 Susan Rushing SVP Chief Risk Officer/Interim CEO 40 0 X 310708 0 25509 Jimmy Lee SVP Chief Marketing Officer 40 0 X 281710 0 40910 Carey Price SVP Chief Banking Officer 40 0 X 292098 0 13279 Wilhelmina Salcedo VP Controller 40 0 X 192396 0 36866 Heath Burke Former VP Information Technology 40 0 X X 179768 0 32483 Schuyler Francine Deposit Business Development Officer 40 0 X 171709 0 35947 Brian Constable Former VP Enterprise Banking 40 0 X X 177833 0 27675 Diana Reynolds VP Compliance and Internal Controls 40 0 X 184193 0 19117 Christopher Montes Vice-Chairman 5 0 X 4788 0 0 Robert Todd Anderson Chairman 5 0 X 4720 0 0 Graham Crain Director 5 0 X 0 0 0 Sebastian Igreti Director 5 0 X 0 0 0 Joshua Guttau Director 5 0 X 0 0 0 Jeremy Anderson Treasurer 5 0 X 0 0 0 John Bastian Secretary 5 0 X 0 0 0 Hal Hoxie Director 5 0 X 0 0 0 Hilda Kennedy Director 5 0 X 0 0 0 Dave Walker Director 5 0 X 0 0 0 3690363 0 402315 38 1 1 0 Mighty Roar LLC 880 Marietta Hwy Suite 630-341 Roswell GA 30075 Marketing Services/Retainer 320000 1 0 Interest from loans to members 522130 20289972 20289972 0 0 Non-interest fee income 522130 7809241 7809241 0 0 0 0 0 0 28099213 7558886 7558886 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 35658099 35658099 0 0 204412 204412 3680855 3680855 5941630 5941630 1471414 1471414 1649664 1649664 728295 728295 60811 60811 224959 224959 381813 381813 1105489 1105489 577765 577765 2646860 2646860 976870 976870 49025 49025 259055 259055 11121766 11121766 279049 279049 479639 479639 Provision for loan losses 4332041 4332041 0 0 Member Transactions 1959428 1959428 0 0 48166 48166 38179006 38179006 0 0 1001497 799410 44836639 55283046 0 453265235 405263398 1235747 1121963 5301822 4257071 417699 1044751 47502524 146614777 9748536 9218000 406110 3800442 10306900 10550606 568720887 633696393 3851603 4260176 0 0 8621 0 0 0 0 47000000 0 475675907 499014704 479527510 550283501 X 0 0 0 0 89193377 83412892 89193377 83412892 568720887 633696393 -2520907 -3259578 0 0 0 0 X 0 1 X 1 0 0 0 0 0 0 0 0 0 196822 15589 181233 0 5105000 4241482 863518 0 0 0 0 1044751 0 Member Shares 499014704 499014704 X 35658099 0 0 0 0 0 35658099 0 0 0 35658099 38179006 0 0 0 0 0 38179006 0 0 0 38179006 Schedule D, Part X, Line 2 The credit union had no unrecognized tax benefits as of December 31, 2024 and 2023. Interest and penalties related to unrecognized tax benefits are recognized by the credit union as administrative expenses. During the year ended December 31, 2024 and 2023, the credit union did not recognize any penalty. 1 Mt Zion Baptist Church 224 W California St Ontario CA 91762 330029184 501 ( c ) 3 10000 0 Harvest Festival Outreach Legacy Inc PO Box 4228 Visalia CA 93278 364727578 501 ( c ) 3 10000 0 General Support NCCAA (National Christian College Athletic Association) 302 W Washington St Greenville SC 29601 581495626 501 ( c ) 3 10000 0 General Support HOPE Enterprises Inc 1502 N Dellrose Wichita KS 67208 822274822 501 ( c ) 3 10000 0 General Support Groundwire (Champion Ministries Inc) PO Box 1323 Castle Rock CO 80104 841341326 501 ( c ) 3 10000 0 General Support University of the Nations Kona 75 5851 Kuakini Hwy 256 Kailua Kona HI 96740 841567990 501 ( c ) 3 10000 0 Arusha Accident Response Fund Olive Crest 2130 E 4th St Ste 200 Santa Ana CA 92705 952877102 501 ( c ) 3 10000 0 General Support ONE&ALL Church 1404 W Covina Blvd San Dimas CA 91773 956006335 501 ( c ) 3 10000 0 General Support Atmosphere Church PO Box 6758 Westlake Village CA 91359 855089585 501 ( c ) 3 7000 0 General Support Camp Agape 1774 N Glassell St Orange CA 92865 953195572 501 ( c ) 3 6800 0 General Support Water for Good PO Box 2868 Bentoville AR 72712 320112278 501 ( c ) 3 5600 0 General Support Rivers Edge Ranch PO Box 1482 Rancho Cucamonga CA 91729 455182350 501 ( c ) 3 5600 0 General Support 12 0 Schedule I, Part I, Line 2 Schedule I, Part I, Line 2 - Schedule I, Part I, Line 2 - The Board of Directors determines the annual grant allocation limit for officials. An official must complete the Ministry Grant Recommendation Form for an appropriate 501(c)(3) organization that aligns with Adelfi' s mission. The official sends the completed form to the Board Chair or the Supervisory Committee Chair for approval. The approved form is sent to the Adelfi Board liaison for processing. The Board liaison notifies the requestor when the check is sent and sends a copy of the letter. Annually, the liaison provides the Board of Directors with a report of the grants given. The Chief Executive Officer is authorized to make grants for missionaries and has assigned this authority to the Adelfi Missions Committee. No unsolicited grant proposals are accepted. X 1 1 X 1 0 0 Abel Luis Pomar Former President CEO 392645 0 181576 0 202265 0 15525 0 27674 0 819685 0 0 Nicki Harms SVP CFO 342400 0 24923 0 76567 0 15525 0 33516 0 492931 0 0 Susan Rushing SVP Chief Risk Officer/Interim CEO 288364 0 19464 0 2879 0 13852 0 11657 0 336216 0 0 Charles Kelly SVP Chief Technology and Operations Officer 281036 0 19352 0 0 0 13567 0 28630 0 342585 0 0 Bentley Hatcher Former SVP Chief Lending Officer 254509 0 17135 0 98032 0 0 0 36092 0 405768 0 0 Jimmy Lee SVP Chief Marketing Officer 270000 0 11710 0 0 0 12880 0 28030 0 322620 0 0 Carey Price SVP Chief Banking Officer 290000 0 0 0 2098 0 13050 0 229 0 305377 0 0 Wilhelmina Salcedo VP Controller 187250 0 5146 0 0 0 8835 0 28031 0 229262 0 0 Diana Reynolds VP Compliance and Internal Controls 175069 0 8495 0 629 0 8260 0 10857 0 203310 0 0 Heath Burke Former VP Information Technology 142554 0 10942 0 26272 0 8246 0 24237 0 212251 0 0 Brian Constable Former VP Enterprise Banking 141050 0 6955 0 29828 0 8121 0 19554 0 205508 0 0 Schuyler Francine Deposit Business Development Officer 115000 0 56709 0 0 0 7916 0 28031 0 207656 0 0 Schedule J, Part I, Line 1a Adelfi Credit Union has travel policies and procedures for employees and Board of Directors. Schedule J, Part I, Line 3 The Compensation Committee meets at least annually to identify the CEO's performance, objectives and related short-term incentive targets. Periodically industry-specific surveys are reviewed and other sources are secured to determine appropriate compensation levels. The Board of Directors reviews the Compensation Committee's recommendations of the CEO's total cash compensation and targets and makes a final determination. Salary grades for all positions, including other officers, are determined after consulting with external independent firms that provide comparability data. Schedule J, Part I, Line 1a - Adelfi Credit Union has travel policies and procedures for employees and Board of Directors. Schedule J, Part I, Line 4 Two of the key officers, Abel Pomar and Bentley Hatcher received severance payments in 2024. Abel Pomar whose employment ceased on October 18, 2024 received $123,403 in severance payment, while, Bentley Hatcher whose employment ceased on November 15, 2024 received $78,244. Form 990, Part VI, Section A, Line 2 J. Anderson and G. Crain are partners on Sabetha Hillcrest, LLC and Beloit Maverick, LLC (two commercial properties). G. Crain is the owner of Crain Investments. H. Hoxie is the CEO of the non-profit Butterfield Foundation who owns some investment at Crain Capital. Form 990, Part VI, Section A, Line 6 Adelfi Credit Union is a state chartered credit union (not-for-profit cooperative) with members who qualify under field of membership criteria. Form 990, Part VI, Section A, Line 7a Credit Union members elect the Board of Directors and Supervisory Committee members. Form 990, Part VI, Section B, Line 11b A draft of the Form 990 is reviewed by the Credit Union's Accounting Manager, CFO, and Supervisory Committee; updates are made to the draft from their comments. Then copies of the Form 990 are sent to the full Board of Directors so they have the opportunity to provide comments and questions prior to filing. Form 990, Part VI, Section B, Line 12c All employees, Board of Director members and Supervisory Committee members are required to read and sign the conflict of interest policy and acknowledgment. Once an employee, Board of Director member, or Supervisory Committee member becomes aware of a conflict, he/she must disclose the conflict. Annually, the Board and the CEO must disclose conflicts of interest. Form 990, Part VI, Section B, Line 15 The Compensation Committee meets at least annually to identify the CEO's performance, objectives and related short-term incentive targets. Periodically industry-specific surveys are reviewed and other sources are secured to determine appropriate compensation levels. The Board of Directors reviews the Compensation Committee's recommendations of the CEO's total cash compensation and targets and makes a final determination. Salary grades for all positions, including other officers, are determined after consulting with external independent firms that provide comparability data. Form 990, Part VI, Section C, Line 19 Governing documents and conflict of interest policy are not available to the general public. Unaudited quarterly financials are available on the company website as well as annual financials derived from the audited financial statements. Audited financial statements are available upon request.