2018-11-14T18:25:02-06:00 2017-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2017-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 RICHARD HANZ SVP, CHIEF FINANCIAL OFFICER 4084373782 2018-11-13 1 VALENTINO CREUS CPA P01054153 8189549700 24.176.202.186 2018-11-13 14:50:57 PS P AF4F97BFF341B67202FA09B643B1D08BFF97A8E1 AF4F97BFF341B67202FA09B643B1D08BFF97A8E1 2017 2019-02-21 02:37:17Z TODD HARRIS 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 92748448 0 X WWW.TECHCU.COM X CREDIT UNION 1960 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 10 298 15 4299897 118558 0 0 59282816 78057664 13150729 13924133 468511 457987 72902056 92439784 13660 23868 0 0 26355844 28069098 0 0 0 27441873 36552690 53811377 64645656 19090679 27794128 2197851016 2486059659 1972627588 2233074386 225223428 252985273 X TECHNOLOGY CREDIT UNION IS A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS, CREATING A SOURCE OF CREDIT FOR THEM AT RATES OF INTEREST SET BY THE BOARD OF DIRECTORS, AND PROVIDING AN OPPORTUNITY FOR THEM TO USE AND CONTROL THEIR OWN MONEY ON A DEMOCRATIC BASIS IN ORDER TO IMPROVE THEIR ECONOMIC AND SOCIAL CONDITIONS. AS A COOPERATIVE, TECHNOLOGY CREDIT UNION CONDUCTS ITS BUSINESS FOR THE MUTAL BENEFIT AND GENERAL WELFARE OF ITS MEMBERS WITH THE EARNINGS, SAVINGS, BENEFITS, OR SERVICES OF THE CREDIT UNION BEING DISTRIBUTED TO ITS MEMBERS AS PATRONS. 0 0 DURING 2017 TECHNOLOGY CREDIT UNION HAD 95,313 MEMBERS WITH 521 MEMBER COMPANIES. TO ENHANCE MEMBERS' EASY ACCESS ANYWHERE AND ANYTIME AT NO COST TO THE MEMBERS, TECH CU PROVIDES ONLINE BANKING SERVICES. SOME OF THE FEATURES ARE THE ABILITY TO VIEW ACCOUNT BALANCES, VIEW OR DOWNLOAD ACCOUNT HISTORY, VIEW IMAGES OF CLEARED CHECKS AND VIEW PENDING TRANSACTIONS. ALSO, MEMBERS HAVE THE PRIVILEGE TO MAKE OR SCHEDULE PAYMENTS FOR TRANSFER BETWEEN TECH CU ACCOUNTS OR OTHER FINANCIAL INSTITUTIONS. MEMBERS CAN ALSO PAY THEIR BILLS USING THE TECH CU BILL PAY ONLINE. THE ONLINE BANKING SERVICES ENABLE MEMBERS TO MANAGE THEIR ACCOUNT(S) CONVENIENTLY FROM RECEIVING EMAIL ALERTS ON THE ACCOUNT ACTIVITY TO PLACING A STOP PAYMENT ON AN OUTGOING CHECK. MEMBERS CAN UPDATE THEIR PROFILE AND GAIN ACCESS TO A SECURED EMAIL. TECH CU ONLINE BANKING USES THE MOST ADVANCED ENCRYPTION STANDARDS TO PROTECT ACCOUNTS AND TO CONDUCT FINANCIAL BUSINESS. THE INNOVATIVE LOGIN SECURITY SYSTEM ENSURES PERSONAL ACCESS AND SECURITY OF ACCOUNT INFORMATION. TECHNOLOGY CREDIT UNION PROVIDES ATM (AUTOMATED TELLER MACHINE) SERVICES TO MEMBERS. MEMBERS CAN ACCESS THEIR BANK ACCOUNT IN ORDER TO MAKE CASH WITHDRAWALS (OR CREDIT CARD CASH ADVANCES) AND CHECK ACCOUNT BALANCES CONVENIENTLY IN A PUBLIC SPACE WITHOUT THE NEED FOR A HUMAN CLERK OR BANK TELLER. TECHNOLOGY CREDIT UNION PRIVATE BANKING IS A PERSONALIZED SERVICE PROGRAM DESIGNED SPECIFICALLY FOR THEIR MOST FINANCIALLY SUCCESSFUL MEMBERS. PRIVATE BANKING MEMBERS ARE ASSIGNED TO A PRIVATE BANKING MANAGER, AN EXPERIENCED CREDIT UNION PROFESSIONAL, WHO SERVES AS PERSONAL RESOURCE AND POINT OF CONTACT FOR ALL THEIR FINANCIAL SERVICES NEEDS. THE PRIVATE BANKING MANAGERS PROVIDE PERSONAL, RESPONSIVE, PROFESSIONAL, AND FRIENDLY SERVICE WHILE ENSURING THE SECURITY AND CONFIDENTIALITY OF EVERY FINANCIAL TRANSACTION. THEY ALSO ACT AS LIAISONS, CONNECTING THEIR MEMBERS WITH THE BEST FINANCIAL EXPERTS IN INVESTING, REAL ESTATE LENDING AND CONSUMER LENDING. IN ADDITION, PRIVATE BANKING MEMBERS ARE ENTITLED TO A WEALTH OF BENEFITS INCLUDING ESTATE PLANNING AND TRUST SERVICES AT A SPECIALLY DISCOUNTED RATE, TAX PLANNING AND PREPARATION, LOAN RATE DISCOUNTS AND PRIORITY PROCESSING OF ALL LOANS, SPECIAL PRIVATE BANKING SEMINARS AND EVENTS, EXCLUSIVE PRIVATE BANKING NEWSLETTER, AND PREFERRED RATE MEMBERSHIP TO THE SILICON VALLEY CAPITAL CLUB. TECHNOLOGY CREDIT UNION OFFERS BUSINESS MEMBERS A WIDE RANGE OF PRODUCTS (SUCH AS BUSINESS SAVINGS ACCOUNT, BUSINESS MONEY MARKET ACCOUNTS, BUSINESS MONEY MARKET PLUS ACCOUNT, BUSINESS BASIC CHECKING, BUSINESS INTEREST CHECKING, BUSINESS CERTIFICATES, BUSINESS CHECK CARDS, BUSINESS AUTO LOAN, BUSINESS LINE OF CREDIT, BUSINESS CREDIT CARD - FIRST NATIONAL BANK OF OMAHA, AND SBA LOANS) AND TOOLS NEEDED TO MANAGE BUSINESS TRANSACTIONS AND ACHIEVE THEIR BUSINESS FINANCIAL GOALS.IN ADDITION, TECH CU PROVIDES INVESTMENT SERVICES TO MEMBERS WITH PRODUCTS SUCH AS SECURITIES, BONDS, INSURANCE, IRA, 527 PLANS, AND MORE. THERE IS ALSO THE RELATIONSHIP REWARDS PROGRAM THAT REWARDS MEMBERS FOR DOING BUSINESS WITH TECH CU. 0 0 0 0 0 0 0 0 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 95106 0 1 298 1 1 1 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA X X NATALIA LAU SVP CORPORATE CONTROLLER 4084676928 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 MICAL BRENZEL CHAIRMAN 2.00 X 0 0 0 ROBERT E BYLIN VICE-CHAIRMAN 2.00 X 0 0 0 KIRK BLOEDE DIRECTOR 2.00 X 0 0 0 KAREN BROCHIER DIRECTOR 2.00 X 0 0 0 PETER DONAHOWER DIRECTOR 2.00 X 0 0 0 ROBERT R HERB DIRECTOR 2.00 X 0 0 0 JOHN W WEDGWOOD DIRECTOR 2.00 X 0 0 0 JOE SHEPELA DIRECTOR 2.00 X 0 0 0 SUNIL NAGDEV DIRECTOR 2.00 X 0 0 0 BARBARA KAMM DIRECTOR 2.00 X 85000 0 0 BOB LUONG SUPV CMTE CHAIRPERSON 2.00 X 0 0 0 JEFF LEE SUPV CMTE MEMBER 2.00 X 0 0 0 FAISAL JEDDY SUPV CMTE MEMBER 2.00 X 0 0 0 FIRASAT ALI SUPV CMTE MEMBER 40.00 X 0 0 0 JESSICA CASSINELLI SUPV CMTE MEMBER 40.00 X X 0 0 0 TODD HARRIS CEO, BOARD SECRETARY/TREAS 40.00 X X 588067 0 170406 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFIC 40.00 X 360899 0 23299 JOSEPH ANZALONE EVP, CHIEF COMMERCIAL BANKING 40.00 X 348560 0 43945 RICHARD HANZ SVP, CHIEF FINANCIAL OFFIC 40.00 X 287264 0 45572 MICHAEL FLOYD EVP, CHIEF CREDIT OFFICER 40.00 X 193025 0 21780 ROBERT REED EVP, CHIEF RETAIL BANKING OFFICER 40.00 X 78419 0 2710 REBECCA NELSON SVP, WEALTH MANAGEMENT 40.00 X 226584 0 28525 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 40.00 X 243688 0 22121 MARY K DUGGAN SVP, MARKETING 40.00 X 218598 0 26443 JEANNIE SUGAOKA SVP, SUPPORT SERVICES 40.00 X 222829 0 23739 DEAN SCOTT KALANIOUMI DAVIS SVP, INFORMATION TECHNOLOG 40.00 X 216860 0 46036 FRED ABAJELO SENIOR FINANCIAL ADVISOR 40.00 X 401967 0 33386 BRIAN EVANS VP, SBA BUSINESS DEVELOPME 40.00 X 252456 0 22727 ROBERT SHERRARD SVP, COMMERCIAL REAL ESTATE LENDING MANAGER 40.00 X 249625 0 23302 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPERATINGS MGR 40.00 X 242882 0 23123 SHOU MEI WU SVP, COMMERCIAL CREDIT ADM 40.00 X 223347 0 11237 DEBRA SPRINGER-BOWMAN FORMER SVP, RETAIL BANKING 0.00 X 148976 0 0 4589046 0 568351 63 1 1 0 ROTH STAFFING COMPANIES LP PO BOX 60003 ANAHEIM CA 92812 STAFFING SERVICES 499290 NBC UNIVERSAL LLC 2450 N FIRST STREET SAN JOSE CA 95131 ADVERTISING 224230 ROBERT E SHEEHAN 6559 SAN IGNACIO AVE SAN JOSE CA 95119 MORTGAGE APPRAISAL 176175 MOSS ADAMS LLP PO BOX 748369 LOS ANGELES CA 900748369 AUDIT SERVICES 172553 SANDLER O NEILL MORTGAGE FINANCE LP 6363 POPLAR AVENUE SUITE 330 MEMPHIS TN 38119 SOLAR SALE 112864 5 INTEREST ON LOANS 522100 65678596 65628608 49988 OTHER OPERATING INCOME 522100 9105407 9104654 753 FEE INCOME 522100 3273661 3094487 179174 78057664 14083654 10013672 4069982 10837 138306 120000 188664 -109163 -50358 -159521 -159521 OTHER NON-OPERATING IN 522100 457987 457987 457987 92439784 88139887 4299897 0 23868 4589046 18562293 1055468 2324017 1538274 312059 395904 1684654 1785775 8824059 624355 2863598 379912 12021588 2679878 128353 LOAN SERVICING EXPENSE 2277562 PROVISION FOR LOAN & LE 1861574 MISC OPERATING EXPENSES 501783 OPERATING FEES 211636 64645656 8399384 6717854 83776142 198966789 897619 844857 285659 309387 47566696 25704484 18665174 21862212 459940188 366737612 1614229473 1878205734 11657377 12415214 2197851016 2486059659 11864627 12155414 1960762961 2220918972 1972627588 2233074386 X 0 0 0 0 225223428 252985273 225223428 252985273 2197851016 2486059659 27794128 -32283 0 X X 0 1 X 1 0 5882284 5882284 13388902 7880501 5508401 7849824 2923612 4926212 20445686 14900371 5545315 21862212 ALL OTHER INVESTMENTS 13500000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 16827209 C LOANS & LEASES 1847456455 F LOANS HELD FOR SALE 422070 C 1878205734 MEMBERS SHARES 2120816572 ACCRUED DIVIDENDS & INTEREST PAYABLE 102400 OTHER NOTES, PROMISSORY NOTES AND INTEREST PAYABLE 100000000 2220918972 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT BY STATUTE FROM FEDERAL AND STATE INCOME TAXES, EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME. THE CREDIT UNION'S WHOLLY OWNED SUBSIDIARY IS A SINGLE MEMBER LIMITED LIABILITY COMPANY, AND ITS PROFITS FLOW THROUGH TO THE MEMBER. THE SUBSIDIARY IS SUBJECT TO THE STATE OF CALIFORNIA LIMITED LIABILITY COMPANY ANNUAL FEE AND GROSS RECEIPTS TAX. FASB ASC 740-10-65, INCOME TAXES, PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE CONSOLIDATED FINANCIAL STATEMENTS. THIS REQUIRES THE EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN THE COURSE OF PREPARING THE CREDIT UNION'S TAX RETURNS TO DETERMINE WHETHER THE TAX POSITIONS ARE "MORE LIKELY THAN NOT" OF BEING SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS DEEMED TO NOT MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. FOR THE YEARS ENDED DECEMBER 31, 2017 AND 2016, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. 1 X X X X 1 1 0 TODD HARRIS CEO, BOARD SECRETARY/TREAS 388813 0 165250 0 34004 0 135800 0 34606 0 758473 0 0 0 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFIC 248923 0 93000 0 18976 0 10800 0 12499 0 384198 0 0 0 JOSEPH ANZALONE EVP, CHIEF COMMERCIAL BANKING 253256 0 87000 0 8304 0 9209 0 34736 0 392505 0 0 0 RICHARD HANZ SVP, CHIEF FINANCIAL OFFIC 211335 0 67000 0 8929 0 10800 0 34772 0 332836 0 0 0 MICHAEL FLOYD EVP, CHIEF CREDIT OFFICER 171184 0 0 0 21841 0 18000 0 3780 0 214805 0 0 0 REBECCA NELSON SVP, WEALTH MANAGEMENT 183408 0 35000 0 8176 0 8834 0 19691 0 255109 0 0 0 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 185651 0 54000 0 4037 0 9712 0 12409 0 265809 0 0 0 MARY K DUGGAN SVP, MARKETING 175235 0 43000 0 363 0 8878 0 17565 0 245041 0 0 0 JEANNIE SUGAOKA SVP, SUPPORT SERVICES 174537 0 42000 0 6292 0 8927 0 14812 0 246568 0 0 0 DEAN SCOTT KALANIOUMI DAVIS SVP, INFORMATION TECHNOLOG 176402 0 36500 0 3958 0 9020 0 37016 0 262896 0 0 0 FRED ABAJELO SENIOR FINANCIAL ADVISOR 31138 0 370211 0 618 0 10800 0 22586 0 435353 0 0 0 BRIAN EVANS VP, SBA BUSINESS DEVELOPME 99281 0 151252 0 1923 0 10127 0 12600 0 275183 0 0 0 ROBERT SHERRARD SVP, COMMERCIAL REAL ESTATE LENDING 175506 0 30500 0 43619 0 9806 0 13496 0 272927 0 0 0 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPERAT 183781 0 51800 0 7301 0 9764 0 13359 0 266005 0 0 0 SHOU MEI WU SVP, COMMERCIAL CREDIT ADM 177257 0 46000 0 90 0 8861 0 2376 0 234584 0 0 0 DEBRA SPRINGER-BOWMAN FORMER SVP, RETAIL BANKING 0 0 0 0 148976 0 0 0 0 0 148976 0 0 0 PART I, LINES 4A-B CONTRIBUTION IN THE AMOUNT OF $125,000 WAS MADE TO THE 457F PLAN IN 2017. THE ONLY ELIGIBLE EMPLOYEE WAS TODD HARRIS. DEBRA SPRINGER-BOWMAN, REPORTED ON 2016 PART VII AS A KEY EMPLOYEE, RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $148,976 IN 2017. TODD HARRIS OFFICER AUTO LOAN X 53000 32631 0 0 1 TODD HARRIS OFFICER AUTO LOAN X 31377 11355 0 0 1 DEAN DAVIS KEY EMPLOYEE 1ST MORTGAGE X 413600 370198 0 0 1 RICHARD HANZ OFFICER 1ST MORTGAGE X 515000 430673 0 0 1 844857 FORM 990, PART VI, SECTION A, LINE 6 TECHNOLOGY CREDIT UNION IS A COOPERATIVE FINANCIAL INSTITUTION THAT IS OWNED AND CONTROLLED BY ITS MEMBERS, AND OPERATED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS TO ITS MEMBERS. TECHNOLOGY CREDIT UNION DOES NOT HAVE STOCKHOLDERS. FORM 990, PART VI, SECTION A, LINE 7A THE GOVERNING BOARD OF TECHNOLOGY CREDIT UNION IS COMPRISED OF VOLUNTEER MEMBERS WHO ARE DIRECTLY ELECTED BY ITS MEMBERS. EACH MEMBER OF THE GOVERNING BOARD SERVES FOR A PERIOD AS PRESCRIBED BY OUR BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B AT THE END OF EACH TERM OF THE BOARD MEMBERS, ELECTIONS ARE HELD AND BOARD MEMBERS ARE VOTED BY THE MEMBERS OF THE CREDIT UNION PURSUANT TO ITS BY-LAWS. MEMBER VOTES ARE ALSO REQUIRED TO RATIFY DECISIONS DEALING WITH REORGANIZATIONS AS IN THE CASE OF MERGER OR DISSOLUTION. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS THE REVIEW OF THE FORM 990 PERFORMED BY THE SVP, CORPORATE CONTROLLER AND THE CFO. FORM 990, PART VI, SECTION B, LINE 12C ALL EXECUTIVES ARE REQUIRED TO COMPLETE THE NEW BANK BRIBERY ACT FORM THAT COVERS CONFICTS OF INTEREST. IF A CONFLICT OF INTEREST IS DISCLOSED DURING THIS PROCESS FOR A BOARD MEMBER, THE BOARD MEMBER IS ASKED TO ABSTAIN FROM VOTING ON THE ISSUE AT HAND. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD COMPENSATION COMMITTEE RECOMMENDS AND APPROVES COMPENSATION FOR THE CEO ON AN ANNUAL BASIS. DURING THIS PROCESS THEY REVIEW COMPARABILITY DATA BASED ON SIMILAR SIZED CREDIT UNIONS IN THE AREA AND DOCUMENT THE DECISION MADE ON WHAT REASONABLE COMPENSATION THEY SHOULD PROVIDE TO THE CEO. FOR OTHER OFFICERS OF THE CREDIT UNION, COMPENSATION IS BASED ON ANNUAL PERFORMANCE EVALUATIONS AND APPROVED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE MONTHLY FINANCIAL STATEMENTS ARE POSTED IN ALL BRANCH LOCATIONS. ALL OTHER DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. TECH CAPITAL LLC 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 473267903 FINANCIAL SERVICES CA 762001 10833205 TECHNOLOGY CREDIT UNION