In 1959, the Church Extension Loan Fund (C.E.L.F.) began serving The Christian and Missionary Alliance (C&MA) by providing loans to Alliance churches. As the need grew, C&MA leadership sought to expand this program. In 1978, it authorized the Alliance Development Fund as the official securities program of the C&MA.
In 1978, C.E.L.F., which existed as a separate fund within the denomination, was merged into ADF. At the time of the merger, C.E.L.F. held approximately $5 million in assets. Today, ADF has grown to almost $300 million in assets and has made approximately 1,500 loans to help churches and other Alliance ministries over its 38 year history.
Effective, January, 1, 1997, ADF became a separate, wholly owned subsidiary of the C&MA pursuant to actions of General Council and Board of Directors. ADF is governed by a board of directors whose members are elected by the C&MA Board of Directors.
As a securities program, ADF's investment certificates, savings instruments and retirement products are sold in compliance with state securities laws in each of the 50 states and Puerto Rico. ADF has never missed or delayed a payment of principal or interest on any of its obligations.
ADF currently has approximately 7,900 customers, and a growing number of people are realizing that they can maximize their stewardship impact by making their investments do “double duty”—helping C&MA churches while receiving a competitive rate of return.