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Annual Meeting Information
IBEW 26 Federal Credit Union
72nd Annual Meeting
IBEW 26 Federal Credit Union
72nd Annual Meeting
Annual Meeting Minutes, April 22, 2026
Before the Annual Meeting was called to order, CEO Joshua Urbick invited attendees to observe a moment of silence in honor of staff member Julie Little and long-time Board Member and Supervisory Committee Chairman Keith Sutphin, both of whom passed away during the year.
Joseph Dellinger ascertained there was a quorum present.
The meeting was called to order by Joseph Dellinger on the 22nd day of April, 2026 at 5:17 p.m. at 4371 Parliament Place Lanham MD 20706 and via ZOOM.
The following directors were present: Joseph Dellinger, Doreen C. Cleland, Chris Cash (in person). Denise Dellinger and Robert Staton (via Zoom).
The following directors asked to be excused: John Marlow.
Vice President’s message Joseph welcomed everyone to the 72nd Annual Meeting celebrating 71 years of service for our members. Joseph reported that the past year reflected strong financial performance and meaningful progress toward organizational goals, noting that the credit union’s continued success is driven by a shared commitment to excellence. Looking ahead, Joseph highlighted planned digital initiatives, a new website designed to expand member access and convenience, ongoing efforts to safeguard member information, and strategic initiatives to expand membership.
The minutes of the 2025 Annual Meeting were reviewed and approved as presented. Motion, second and approval to dispense with the reading of the minutes. A copy of the minutes is available to review.
Treasurer’s Report given by Denise Dellinger. Denise reviewed the Statement of Financial Condition for 2025 (see attached). Denise reported the Credit Union was very profitable again this year, pointing out the consumer loan portfolio increased by over four million dollars. The Credit Union is adequately (well) capitalized and has a strong cash position.
Loan Report given by Robert Staton. Robert reported on loan totals for 2025. There were 748 loan applications resulting in 329 loans being booked in 2025 for over $9.8 Million. At the end of 2025 there were 735 loans with balances totaling $15.4 Million and 413 credit cards with balances of $627,000.00. Robert remarked the loan totals for the year were great and thanked the office staff and Josh.
Supervisory Committee Report given by Tim Estell. Tim reviewed audits performed in 2025 by the Supervisory Committee.
There are several individuals that assist in performing these audits. They are Mike Wilson, Tom Clark, Nondas Mouhanis and Tim Estell.
Our Membership Officer Bob Nelson performs the new account and status change audit each month.
All these individuals, like myself, serve as volunteers. Tim thanked everyone who participates in these audits for their valuable service and dedication to the Credit Union.
For our outside audit firm we contracted with the F.I.R.M. Consulting Services, LLC. They completed the agreed upon procedures audit, BSA/OFAC audit, ACH Compliance Testing & Consulting, and Employee confidential account review as of September 30, 2025.
The 2025 NCUA examination is currently in progress.
Membership Report Bob Nelson reviewed his duties as membership officer including the audits he performs throughout the year. There were 358 new members in 2025 and total members as of December 31, 2025 was 2,876.
Unfinished business: none to report.
New business: CEO Joshua Urbick delivered his report, opening with the theme of “foundation,” emphasizing that the past year has been dedicated to strengthening operations and building a solid base for continued success in 2026. He introduced the staff, expressed pride in their work, and thanked both the Board of Directors and the Supervisory Committee for their ongoing support and leadership.
Josh reported that the credit union’s focus on lending throughout 2025 resulted in record production, and he recognized Kayla Tripp for her significant contributions to this achievement.
Looking ahead, Josh outlined several key initiatives planned for 2026, including replacing the Virginia ATM, enhancing security within online banking, launching a new website with expanded member capabilities, and continuing efforts to grow membership. He closed by reaffirming that the credit union’s best days are ahead, grounded in a strong foundation and the shared commitment to remain ‘union strong.’
During the report, member and former Board Member Rick Warner commended the credit union’s performance, noting it was the strongest financial report he has seen in more than 50 years. He thanked Josh, Chris Cash, and the support of IBEW Local 26. Rick also expressed concern regarding difficulties reaching staff through the phone system. Josh thanked him for the feedback and stated he would look into the matter further.
Josh concluded by recognizing Joseph Dellinger on his final day of Board service, thanking him for his contributions, and welcoming newly elected Board Members T. Smalls and Tim Estell.
Elections- Nominees- no petitions; Nominees will be voted in by acclamation. Board of Directors (two year term) John Marlow, Denise Dellinger, T. Smalls and Tim Estell.
Meeting was adjourned at 5:40 p.m.