2025-11-17T09:09:50-06:00 2024-12-31 994260840 DOEREN MAYHEW 8785 SW 165TH AVENUE SUITE 303 MIAMI FL 33193 990 2024-01-01 590678236 ADDITION FINANCIAL CREDIT UNION ADDI 4077081695 1000 PRIMERA BLVD LAKE MARY FL 32746 QING LU CFO 4077085812 2025-11-17 0 AUBREY CLEGG P01076395 3052328272 2025-11-17 2024 2025-03-06 01:10:19Z KEVIN MILLER 1000 PRIMERA BLVD LAKE MARY FL 32746 172550204 0 X WWW.ADDITIONFI.COM X 1937 FL ADDITION FINANCIAL CREDIT UNION IS COMMITTED TO HELPING MEMBERS ACHIEVE THEIR MONEY MANAGEMENT GOALS. 9 9 734 12 203784 0 0 0 118782767 144910984 16040839 27639220 35687579 0 170511185 172550204 0 423002 0 0 46080045 45702932 0 0 0 118158091 109134964 164238136 155260898 6273049 17289306 2912144631 2735864519 2708084595 2509406304 204060036 226458215 ADDITION FINANCIAL CREDIT UNION IS COMMITTED TO HELPING MEMBERS ACHIEVE THEIR MONEY MANAGEMENT GOALS. 0 0 PROVIDE 187,897 MEMBERS WITH REGULAR SAVINGS, SHARE DRAFTS, CERTIFICATES OF DEPOSIT, IRA, HEALTH SAVINGS AND MONEY MARKET ACCOUNTS WITH AGGREGATE DEPOSIT BALANCES THAT APPROXIMATED $2,426,067,000 AS OF DECEMBER 31, 2024. PROVIDE 87,349 LOANS INCLUDING MORTGAGES, BUSINESS, HOME EQUITY, CREDIT CARDS, SHARE SECURED, VEHICLE, AND LINE OF CREDIT LOANS WITH AGGREGATE LOAN BALANCES THAT APPROXIMATED $1,850,385,000 AS OF DECEMBER 31, 2024. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 0 1 46881 0 1 734 1 1 1 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X QING LU 4077085812 1000 PRIMERA BLVD LAKE MARY FL 32746 RICHARD COLLINS BOARD CHAIRPERSON 10.00 X 4074 0 0 DALE KELLY BOARD VICE CHAIRPERSON 10.00 X 0 0 0 RONALD PERSON BOARD SECRETARY 10.00 X 0 0 0 NAVAL MODANI BOARD TREASURER 10.00 X 0 0 0 JANET BUSH BOARD MEMBER 10.00 X 5585 0 0 GABRIELA ORTIGONI BOARD MEMBER 10.00 X 7758 0 0 KIMBERLY MARTEN BOARD MEMBER 10.00 X 831 0 0 JUDITH PADRES BOARD MEMBER 10.00 X 792 0 0 CARY DORTONA BOARD MEMBER 10.00 X 0 0 0 KEVIN MILLER PRESIDENT/CEO 40.00 X 999561 0 51284 KEVIN DOUGHERTY CHIEF OPERATING OFFICER 40.00 X 497196 0 28504 QING LU CHIEF FINANCIAL OFFICER 40.00 X 421247 0 42728 SAM NELSON CHIEF ADMINISTRATIVE OFFICER 40.00 X 424242 0 51114 KEVIN WRIGHT CHIEF INFORMATION OFFICER 40.00 X 426331 0 40896 MIRIAM MITCHELL CHIEF LENDING OFFICER 40.00 X 343895 0 51114 NORA RODRIGUEZ PATTERSON CHIEF COMMUNICATIONS OFFICER 40.00 X 300614 0 26784 JOSEPH MACLAREN ASSISTANT GENERAL COUNSEL 40.00 X 227238 0 46029 SHIRLEY SHOEMAKER SVP BRANCH OPERATIONS 40.00 X 229721 0 22854 MATTHEW WALSH VP INFORMATION TECHNOLOGY 40.00 X 186651 0 35511 ALEX DEJESUS SVP MEMBER EXPERIENCE 40.00 X 200266 0 10065 JASON HANSEN VP MARKETING 40.00 X 187374 0 35084 4463376 0 441967 48 0 1 0 SEIBOLD SECURITY OF FLORIDA INC 12 AQUEDUT STREET ROCHESTER NY 14614 SECURITY EQUIPMENT 979954 LANVERA LTD 112 WRANGLER DRIVE SUITE 150 COPPELL TX 75019 DATA PROCESSING 826019 CDW LLC PO BOX 75723 CHICAGO IL 606755723 DATA PROCESSING 759945 JACK HENRY & ASSOCIATES INC PO BOX 609 MONETT MO 65708 DATA PROCESSING 698307 MERIDIANLINK INC PO BOX 846822 LOS ANGELES CA 900846822 LENDING SOFTWARE SERVICE 691978 68 INCOME FROM LOANS 522100 105309311 105309311 OTHER INCOME 522100 26847592 26847592 FEES & CHARGES 522100 12550297 12550297 FINANCE & INSURANCE 520000 203784 203784 144910984 27639220 27639220 172550204 172346420 203784 0 X 423002 3724550 33042402 1514085 4825932 2595963 2359160 600768 7619368 6187706 12752097 4713372 950798 44010058 3707586 PROVISION FOR LOAN LOSS 19182294 LOAN OPERATIONS 6074061 STATE OPERATING FEES 318534 MEMBER INSURANCE 264683 394479 155260898 24627112 25233287 347061708 274767423 730552 1679473 45904337 49328757 1954421635 1804122600 2417654 2574068 123375789 62418904 62993877 60956885 416335260 462087611 15934740 12868460 6266513 6231840 35451243 36014115 2912144631 2735864519 20689313 23338959 320000000 60000000 2367395282 2426067345 2708084595 2509406304 X 0 0 0 0 204060036 226458215 204060036 226458215 2912144631 2735864519 17289306 5108873 0 X X 0 1 X 1 0 22238760 22238760 57390151 24051005 33339146 946068 526064 420004 42800810 37841835 4958975 60956885 MEMBER SHARE DEPOSITS 2426067345 2426067345 X 172550204 0 172550204 0 172550204 155260898 0 155260898 0 155260898 PART X, LINE 2: THE CREDIT UNION IS EXEMPT FROM MOST FEDERAL, STATE AND LOCAL INCOME TAXES UNDER THE PROVISIONS OF THE INTERNAL REVENUE CODE (IRC) AND STATE TAX LAWS. HOWEVER, IRC SECTION 511 IMPOSES A TAX ON THE UNRELATED BUSINESS INCOME DERIVED BY STATE-CHARTERED CREDIT UNIONS. GENERALLY, THESE TAXES ARE INSIGNIFICANT TO THE CREDIT UNION. 1 ADDITION FINANCIAL FOUNDATION INC 1000 PRIMERA BLVD LAKE MARY FL 327462194 870878614 501(C)(3) 423002 0 THE ADDITION FINANCIAL FOUNDATION, INC. WAS PRIMARILY FORMED TO ASSIST ADDITION FINANCIAL CREDIT UNION PROMOTE AND PROVIDE ASSISTANCE TO INITIATIVES BENEFITING EDUCATION. 1 0 PART I, LINE 2: THE CONTRIBUTION IS CHARITABLE IN NATURE TO THE CREDIT UNION-SPONSORED FOUNDATION. THE OFFICERS OF THE FOUNDATION ARE CREDIT UNION EMPLOYEES WHO ENSURE THE FUNDS CONTRIBUTED BY THE CREDIT UNION ARE USED TO CARRY OUT THE FOUNDATION'S MISSION. X X X X X 0 1 0 KEVIN MILLER PRESIDENT/CEO 762561 0 211000 0 26000 0 17250 0 34034 0 1050845 0 0 0 KEVIN DOUGHERTY CHIEF OPERATING OFFICER 407279 0 89917 0 0 0 17250 0 11254 0 525700 0 0 0 SAM NELSON CHIEF ADMINISTRATIVE OFFICER 359403 0 64839 0 0 0 17250 0 33864 0 475356 0 0 0 KEVIN WRIGHT CHIEF INFORMATION OFFICER 361824 0 64507 0 0 0 17250 0 23646 0 467227 0 0 0 QING LU CHIEF FINANCIAL OFFICER 331053 0 90194 0 0 0 17250 0 25478 0 463975 0 0 0 MIRIAM MITCHELL CHIEF LENDING OFFICER 290467 0 53428 0 0 0 17250 0 33864 0 395009 0 0 0 NORA RODRIGUEZ PATTERSON CHIEF COMMUNICATIONS OFFICER 248555 0 52059 0 0 0 14986 0 11798 0 327398 0 0 0 JOSEPH MACLAREN ASSISTANT GENERAL COUNSEL 221452 0 5786 0 0 0 11995 0 34034 0 273267 0 0 0 SHIRLEY SHOEMAKER SVP BRANCH OPERATIONS 201562 0 28159 0 0 0 11600 0 11254 0 252575 0 0 0 JASON HANSEN VP MARKETING 178431 0 8943 0 0 0 9777 0 25307 0 222458 0 0 0 MATTHEW WALSH VP INFORMATION TECHNOLOGY 177477 0 9174 0 0 0 10033 0 25478 0 222162 0 0 0 ALEX DEJESUS SVP MEMBER EXPERIENCE 110349 0 89917 0 0 0 10032 0 33 0 210331 0 0 0 PART I, LINE 4B KEVIN MILLER, KEVIN DOUGHERTY, SAM NELSON, KEVIN WRIGHT, QING LU, MIRIAM MITCHELL, NORA RODRIGUEZ PATTERSON, AND JOSEPH MACLAREN PARTICIPATE IN A SUPPLEMENTAL RETIREMENT BENEFITS ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE UNDERLYING LIFE INSURANCE POLICY TO SUPPLEMENT RETIREMENT INCOME. THESE DRAWS ARE TAX FREE FOR THE PARTICIPANTS. UPON THE PARTICIPANT'S DEATH THE CREDIT UNION RECOVERS ITS PREMIUMS PLUS INTEREST, PLUS KEY-PERSON INSURANCE PROCEEDS. JOSEPH MELBOURNE FORMER CEO TO FUND SDLI X 5500000 6470147 0 1 1 THUY LINH DANG FORMER CFO TO FUND SDLI X 4551199 4641452 0 1 1 KEVIN MILLER CEO TO FUND SDLI X 12267430 12780920 0 1 1 KEVIN DOUGHERTY COO TO FUND SDLI X 5053301 6214365 0 1 1 KEVIN WRIGHT CIO TO FUND SDLI X 2109040 2435274 0 1 1 SAM NELSON CAO TO FUND SDLI X 5344000 5939054 0 1 1 MIRIAM MITCHELL CLO TO FUND SDLI X 3443000 4103483 0 1 1 JOSEPH MACLAREN ASSISTANT GENERAL COUNSEL TO FUND SDLI X 4300000 789876 0 1 1 NORA RODRIGUEZ-PATTERSON CCO TO FUND SDLI X 5100000 940035 0 1 1 QING LU CFO TO FUND SDLI X 7000000 1934728 0 1 1 BRIAN HARTWIGSEN FORMER VP LENDING TO FUND SDLI X 2545367 3079423 0 1 1 49328757 FORM 990, SCH L, PART II THE CREDIT UNION PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ARRANGEMENT REFERRED TO AS A "COLLATERAL ASSIGNED SPLIT DOLLAR" PLAN. ALTHOUGH THE IRS REQUIRES REPORTING IN PART II AS A LOAN TO AN INTEREST PARTY, THIS IS NOT AN ACTUAL LOAN. THERE IS NO TRANSFER OF FUNDS TO THE PARTICIPANTS NOR AN OBLIGATION TO REPAY THE FUNDS. INSTEAD, THE CREDIT UNION RECOVERS ANY OUTLAYS, PLUS INTEREST, FROM THE UNDERLYING POLICY. THAT IS, THE CREDIT UNION DEPOSITS FUNDS DIRECTLY INTO A LIFE INSURANCE POLICY TO ENSURE REPAYMENT. AT SPECIFIED TIMES, THE PARTICIPANTS MAY BORROW FUNDS FROM THE CASH SURRENDER VALUE OF THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE BORROWINGS ARE MONITORED TO ENSURE THE POLICY WILL PAY A DEATH BENEFIT AT LEAST SUFFICIENT TO COVER THE CREDIT UNION'S OUTLAYS PLUS INTEREST. ANY REMAINING DEATH BENEFITS ARE DIVIDED BETWEEN THE CREDIT UNION AND THE PARTICIPANT'S BENEFICIARIES AS AGREED UPON. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE CREDIT UNION MEMBERSHIP MAY PARTICIPATE IN THE ELECTION OF OFFICIALS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS OF THE CREDIT UNION HAVE THE RIGHT TO APPROVE THE GOVERNING BODY'S ELECTION AND REMOVAL OF MEMBERS OF THE GOVERNING BODY, AS WELL AS OTHER MATTERS THAT ARE SUBJECT TO THE APPROVAL OF MEMBERS OF THE CREDIT UNION AS THEY OCCUR. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS, CEO AND CFO PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS REVIEWED BY THE CREDIT UNION'S EXECUTIVE TEAM. FORM 990, PART VI, SECTION B, LINE 15 THE CEO AND TOP MANAGEMENT'S COMPENSATION IS REVIEWED BY THE CREDIT UNION'S COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE CREDIT UNION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 24E ASSOCIATION DUES 246,444. MISCELLANEOUS EXPENSES 136,530. ANNUAL MEETING 6,157. CASH OVER & SHORT 5,348. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN THE PROCESS OF THE COMMITTEE THAT ASSUMES RESPONSIBILITY OF THE OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT AUDITOR. ADDITION FINANCIAL FOUNDATION INC 1000 PRIMERA BLVD LAKE MARY FL 32746 870878614 FINANCIAL EDUCATION AND CHARITABLE GIVING FL 501(C)(3) PF ADDITION FINANCIAL CREDIT UNION 1 PRIMERA TITLE LLC 1000 PRIMERA BLVD LAKE MARY FL 32746 842564389 TITLE AGENCY FL ADDITIONAL FINANCIAL CREDIT UNION RELATED 36190 53418 0 1 0.51000 PRIMERA LENDING SERVICES LLC 1000 PRIMERA BLVD LAKE MARY FL 32746 842779631 LENDING SERVICES FL ADDITION FINANCIAL CREDIT UNION C 36843 5341287 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ADDITION FINANCIAL FOUNDATION INC B 423002 ACTUAL