2017-11-15T18:43:32-06:00 2016-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2016-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 RICHARD HANZ CFO 4084373782 2017-11-14 1 VALENTINO CREUS CPA P01054153 8189549700 108.95.190.209 2017-11-14 16:10:36 PS P F53CDBC3F18316389D6CFA617EE7B9AF17900040 35BB90D26B3E805B7A3B8DA7F72400C36D24A4F1 2016 2017-02-10 21:41:12Z TODD HARRIS 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 147256084 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 10 273 14 2214406 0 0 0 51624281 59282816 11898688 13150729 988444 468511 64511413 72902056 5307 13660 0 0 25688703 26355844 0 0 0 23763967 27441873 49457977 53811377 15053436 19090679 2065689522 2197851016 1858488026 1972627588 207201496 225223428 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 2016 TECHNOLOGY CREDIT UNION HAD 79,688 MEMBERS WITH 526 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 1 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 0 0 0 0 1 32624 0 1 273 1 1 1 0 0 0 0 0 0 0 X 11 10 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA X X NATALIA LAU VP ACCOUNTING 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 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 2.00 X 0 0 0 JESSICA CASSINELLI SUPV CMTE MEMBER 40.00 X 0 0 0 BARBARA KAMM FORMER CEO, BOARD MEMBER 40.00 X X 668034 0 17273 TODD HARRIS CEO, BOARD SECRETARY/TREASURER 40.00 X X 468013 0 167629 JOSEPH ANZALONE EVP, CHIEF COMMERCIAL BANKING OFFICER 40.00 X 338310 0 41162 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFICER 40.00 X 310628 0 22686 ALVIN CADMAN III EVP, CHIEF CREDIT OFFICER 40.00 X 252959 0 34439 RICHARD HANZ SVP, CHIEF FINANCIAL OFFICER 40.00 X 230544 0 41168 DEBRA SPRINGER-BOWMAN SVP, RETAIL BANKING 40.00 X 247822 0 34884 REBECCA NELSON SVP, WEALTH MANAGEMENT 40.00 X 226953 0 28120 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 40.00 X 217144 0 20494 MARY K DUGGAN SVP, MARKETING 40.00 X 211613 0 25965 JEANNIE SUGAOKA SVP, SUPPORT SERVICES 40.00 X 206941 0 23423 DEAN SCOTT KALANIOUMI DAVIS SVP, INFORMATION TECHNOLOGY 40.00 X 196545 0 41497 HERMELINDA NEGRETE SENIOR MORTGAGE ORIGINATOR 40.00 X 232900 0 29044 NIKI WONG SVP, COMMERCIAL/SBA LENDIN 40.00 X 230531 0 20527 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT OFFICER 40.00 X 216498 0 19839 SHOU MEI WU SVP, COMMERCIAL CREDIT ADMINISTRATION 40.00 X 202885 0 10073 JEFFREY JOHNSON SVP, DIVISION MANAGER, ASSET BASED LENDING 40.00 X 195587 0 18719 4653907 0 596942 63 0 1 0 SHEEHAN HOME APPRAISAL 6559 SAN IGNACIO AVE SAN JOSE CA 95119 APPRAISAL SERVICES 236750 MOSS ADAMS LLP PO BOX 748369 LOS ANGELES CA 900748369 AUDIT SERVICES 183209 ROTH STAFFING COMPANIES LP PO BOX 60003 ANAHEIM CA 92812 STAFFING SERVICES 174177 NBC UNIVERSAL LLC 2450 N FIRST STREET SAN JOSE CA 95131 ADVERTISING 132260 AKCELERANT SOFTWARE LLC 100 LINDENWOOD DRIVE MALVERN PA 19355 SOFTWARE 107580 5 INTEREST ON LOANS 522100 49862128 49855494 6634 OTHER OPERATING INCOME 522100 6219991 6213624 6367 FEE INCOME 522100 3200697 3019063 181634 59282816 12215444 10195673 2019771 74180178 1109135 73716258 637770 463920 471365 935285 935285 OTHER NON-OPERATING IN 522100 468511 468511 468511 72902056 70687650 2214406 0 13660 4653907 16949970 850869 2392896 1508202 106875 367256 1818529 2171521 8471324 578145 2965302 352386 5927022 2308080 154852 LOAN SERVICING EXPENSE 1612534 MISC OPERATING EXPENSES 371681 OPERATING FEES 192408 PROVISION FOR LOAN & LE 43958 53811377 9537601 8399384 172557704 83776142 131251 897619 282812 285659 41827168 23161994 18327185 18665174 512692555 459940188 1342244493 1614229473 9915921 11657377 2065689522 2197851016 9432341 11864627 1849055685 1960762961 1858488026 1972627588 X 0 0 0 0 207201496 225223428 207201496 225223428 2065689522 2197851016 19090679 -1068747 0 X X 0 1 X 1 0 535 535 535 1 EVAN LOW FOR ASSEMBLY 1020 12 STREET SUITE 406 SACRAMENTO CA 95814 500 SAN JOSE SILICON VALLEY COC-PAC 101 W SANTA CLARA ST SAN JOSE CA 95113 35 5882284 5882284 13388902 7534467 5854435 5328735 2392223 2936512 17227247 13235304 3991943 18665174 ALL OTHER INVESTMENTS 13500000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 15535478 C LOANS & LEASES 1580746995 F DEPOSITS IN COMMERCIAL BANKS 697000 C LOANS HELD FOR SALE 3750000 C 1614229473 MEMBERS SHARES 1960679464 ACCRUED DIVIDENDS & INTEREST PAYABLE 83497 1960762961 X PART X, LINE 2: THE CREDIT UNION IS EXEMPT, BY STATUTE, FROM FEDERAL AND STATE INCOME TAXES. THE FASB ISSUED GUIDANCE ON ACCOUNTING FOR INCOME TAXES IN FASB ASC TOPIC 740, INCOME TAXES, WHICH PROVIDES GUIDANCE FOR HOW UNCERTAIN TAX POSITIONS SHOULD BE RECOGNIZED, MEASURED, DISCLOSED AND PRESENTED IN THE FINANCIAL STATEMENTS. THIS REQUIRES EVALUATION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN BY THE CREDIT UNION WHICH MUST DETERMINE WHETHER THE TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED "WHEN CHALLENGED OR "WHEN EXAMINED" BY THE APPLICABLE TAX AUTHORITY. TAX POSITIONS NOT DEEMED TO MEET THE MORE-LIKELY-THAN-NOT THRESHOLD WOULD BE RECORDED AS A TAX EXPENSE AND LIABILITY IN THE CURRENT YEAR. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. 1 X X X X 0 1 0 BARBARA KAMM FORMER CEO, BOARD MEMBER 379242 0 238848 0 49944 0 10600 0 6673 0 685307 0 0 0 TODD HARRIS CEO, BOARD SECRETARY/TREASURER 323984 0 115088 0 28941 0 135600 0 32029 0 635642 0 0 0 JOSEPH ANZALONE EVP, CHIEF COMMERCIAL BANKING OFFICE 245047 0 83661 0 9602 0 9003 0 32159 0 379472 0 0 0 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFICER 223823 0 69290 0 17515 0 10600 0 12086 0 333314 0 0 0 ALVIN CADMAN III EVP, CHIEF CREDIT OFFICER 109550 0 91987 0 51422 0 9989 0 24450 0 287398 0 0 0 RICHARD HANZ SVP, CHIEF FINANCIAL OFFICER 183191 0 42082 0 5271 0 9426 0 31742 0 271712 0 0 0 DEBRA SPRINGER-BOWMAN SVP, RETAIL BANKING 170720 0 41517 0 35585 0 9733 0 25151 0 282706 0 0 0 REBECCA NELSON SVP, WEALTH MANAGEMENT 176454 0 38027 0 12472 0 8828 0 19292 0 255073 0 0 0 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 169555 0 43000 0 4589 0 8716 0 11778 0 237638 0 0 0 MARY K DUGGAN SVP, MARKETING 168488 0 41844 0 1281 0 8611 0 17354 0 237578 0 0 0 JEANNIE SUGAOKA SVP, SUPPORT SERVICES 163957 0 39399 0 3585 0 8342 0 15081 0 230364 0 0 0 DEAN SCOTT KALANIOUMI DAVIS SVP, INFORMATION TECHNOLOGY 162269 0 30257 0 4019 0 8181 0 33316 0 238042 0 0 0 HERMELINDA NEGRETE SENIOR MORTGAGE ORIGINATOR 31961 0 200276 0 663 0 9536 0 19508 0 261944 0 0 0 NIKI WONG SVP, COMMERCIAL/SBA LENDIN 174820 0 48353 0 7358 0 9284 0 11243 0 251058 0 0 0 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT OFFICER 97985 0 116338 0 2175 0 8156 0 11683 0 236337 0 0 0 SHOU MEI WU SVP, COMMERCIAL CREDIT ADMINISTRATIO 169072 0 31871 0 1942 0 8048 0 2025 0 212958 0 0 0 JEFFREY JOHNSON SVP, DIVISION MANAGER, ASSET BASED L 175105 0 10640 0 9842 0 7510 0 11209 0 214306 0 0 0 PART I, LINE 4B CONTRIBUTION IN THE AMOUNT OF $125,000 WAS MADE TO THE 457F PLAN IN 2016. THE ONLY ELIGIBLE EMPLOYEE WAS TODD HARRIS AND BARBARA KAMM. BARBARA KAMM RECEIVED A PAYOUT IN THE AMOUNT OF $181,000 DURING THE YEAR. TODD HARRIS OFFICER AUTO LOAN X 53000 42110 0 0 1 TODD HARRIS OFFICER AUTO LOAN X 31377 19212 0 0 1 DEAN DAVIS KEY EMPLOYEE 1ST MORTGAGE X 413600 392472 0 0 1 RICHARD HANZ OFFICER 1ST MORTGAGE X 515000 443825 0 0 1 897619 FORM 990, PART VI, SECTION A, LINE 4 THE BOARD OF DIRECTORS SHALL CONSIST OF AN ODD NUMBER OF DIRECTORS OF NOT LESS THAN FIVE (5), AND NO MORE THAN FIFTEEN (15), EACH OF WHOM SHALL BE A MEMBER OF THIS CREDIT UNION IN HIS OR HER OWN RIGHT AND SHALL BE AT LEAST EIGHTEEN (18) YEARS OF AGE. WITHIN THE FOREGOING RANGE, THE NUMBER OF DIRECTORS MAY BE CHANGED BY RESOLUTION OF THE BOARD. A COPY OF THE RESOLUTION OF THE BOARD FIXING THE NUMBER OF DIRECTORS AT ANY ONE TIME SHALL BE FILED WITH THE OFFICIAL COPY OF THE BYLAWS OF THIS CREDIT UNION, AND SHALL BE FILED WITH THE COMMISSIONER OF THE DEPARTMENT OF FINANCIAL INSTITUTIONS. NO MEMBER OF THE BOARD OF DIRECTORS SHALL SERVE AS A MEMBER OF THE SUPERVISORY COMMITTEE, THE CREDIT MANAGER, OR LOAN OFFICER NOR RECEIVE COMPENSATION FOR HIS OR HER SERVICES AS A DIRECTOR. A DIRECTOR MAY BE COMPENSATED FOR ACTUAL SERVICES PERFORMED AS AN EMPLOYEE OF THIS CREDIT UNION PURSUANT TO SECTION 14410(C) OF THE CALIFORNIA FINANCIAL CODE. A DIRECTOR MAY ALSO BE REIMBURSED FOR ACTUAL EXPENSES INCURRED IN THE PERFORMANCE OF HIS/HER DUTIES PURSUANT TO SECTION 14410 OF THE CALIFORNIA FINANCIAL CODE. 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 VP OF ACCOUNTING 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.