2016-11-15T16:16:39-06:00 2015-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2015-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 RICHARD HANZ CFO 4084373782 2016-11-15 1 VALENTINO CREUS CPA P01054153 8189549700 2015 2017-02-10 21:41:12Z TODD HARRIS 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 146673308 0 X WWW.TECHCU.COM X CREDIT UNION 1960 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 9 8 279 13 1311065 0 0 0 47220205 51624281 9959475 11898688 1933626 988444 59113306 64511413 7635 5307 0 0 23931986 25688703 0 0 0 20537620 23763967 44477241 49457977 14636065 15053436 1828556311 2065689522 1632337659 1858488026 196218652 207201496 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 2015 TECHNOLOGY CREDIT UNION HAD 74,516 MEMBERS WITH 487 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 0 0 0 0 1 30453 0 1 279 1 1 1 0 0 0 0 0 0 0 X 9 8 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 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 TOM L HALL SUPV CMTE CHAIR 1.00 X 0 0 0 FAISAL JEDDY SUPV CMTE MEMBER 1.00 X 0 0 0 JEFF LEE SUPV CMTE MEMBER 1.00 X 0 0 0 BOB LUONG SUPV CMTE MEMBER 1.00 X 0 0 0 KAREN ROGGE SUPV CMTE MEMBER 1.00 X 0 0 0 BARBARA BALDWIN KAMM PRESIDENT/CEO/TREASURER/SECRETARY 40.00 X X 1458318 0 164078 TODD MARSHALL HARRIS EVP, CFO/CAO 40.00 X 387764 0 39656 JOSEPH L ANZALONE EVP, CHIEF BANKING OFFICER 40.00 X 325467 0 37984 ALVIN O CADMAN III EVP, CHIEF CREDIT OFFICER 40.00 X 310930 0 33213 JEANNINE M JACOBSEN SVP, HUMAN RESOURCES 40.00 X 265100 0 21186 DEBRA L SPRINGER-BOWMAN SVP, RETAIL BANKING 40.00 X 230099 0 29734 REBECCA M NELSON SVP, WEALTH MANAGEMENT 40.00 X 229939 0 28305 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 40.00 X 207478 0 19009 JEANNIE N SUGAOKA SVP, SUPPORT SERVICES 40.00 X 196403 0 20850 MARY K DUGGAN SVP, MARKETING 40.00 X 188796 0 25164 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT OFFICER 40.00 X 410498 0 10352 FRED D ABAJELO FINANCIAL ADVISOR 40.00 X 286798 0 29561 DEBORAH RUTH KRUMWIEDE FINANCIAL ADVISOR 40.00 X 258112 0 23451 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPERATIONS MGR 40.00 X 214842 0 18967 ROBERT CAMERON SHERRARD SVP, COMMERCIAL REAL ESTATE LENDING MANAGER 40.00 X 213106 0 19649 5183650 0 521159 57 0 1 0 ROTH STAFFING COMPANIES LP PO BOX 60003 ANAHEIM CA 92812 STAFFING SERVICES 288062 MOSS ADAMS LLP PO BOX 748369 LOS ANGELES CA 900748369 AUDIT SERVICES 245395 SHEEHAN HOME APPRAISAL 6559 SAN IGNACIO AVE SAN JOSE CA 95119 APPRAISAL SERVICES 149700 SMALL BUSINESS LENDING 179 NIBLICK 415 PASO ROBLES CA 93446 LOAN SERVICES 143570 4 INTEREST ON LOANS 522100 42152485 42110877 41608 OTHER OPERATING INCOME 522100 6258973 6254513 4460 FEE INCOME 522100 3212823 3013104 199719 51624281 11078363 10013085 1065278 78714034 4268186 78591339 3570556 122695 697630 820325 820325 OTHER NON-OPERATING IN 522100 418626 418626 GAIN FROM BARGAIN PURC 522100 346845 346845 PROV FOR LOAN AND LEAS 522100 222973 222973 988444 64511413 63200348 1311065 0 5307 5183652 15673351 770532 2702896 1358272 346803 414468 1232823 1960091 7340177 696505 3190958 336432 4151510 2229079 159028 LOAN SERVICING EXPENSE 1128871 MISC OPERATING EXPENSES 404174 OPERATING FEES 173048 49457977 8751439 9537601 110458736 172557704 251943 131251 275347 282812 40907982 22580797 16622207 18327185 597460494 512692555 1082571341 1342244493 12164804 9915921 1828556311 2065689522 11162078 9432341 1621175581 1849055685 1632337659 1858488026 X 0 0 0 0 196218652 207201496 196218652 207201496 1828556311 2065689522 X 15053436 -5589299 1518707 X X 0 1 X 1 0 6130373 6130373 13770638 7196612 6574026 4400256 2283817 2116439 16606715 13100368 3506347 18327185 ALL OTHER INVESTMENTS 13525000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 14579177 C LOANS & LEASES 1311722316 F DEPOSITS IN COMMERCIAL BANKS 2418000 C 1342244493 MEMBERS SHARES 1848884269 ACCRUED DIVIDENDS & INTEREST PAYABLE 171416 1849055685 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, 2015 AND 2014, 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 BALDWIN KAMM PRESIDENT/CEO/TREASURER/SECRETARY 461147 0 227586 0 769585 0 142240 0 21838 0 1622396 0 746915 0 TODD MARSHALL HARRIS EVP, CFO/CAO 268565 0 105000 0 14199 0 10600 0 29056 0 427420 0 0 0 JOSEPH L ANZALONE EVP, CHIEF BANKING OFFICER 233576 0 82500 0 9391 0 8798 0 29186 0 363451 0 0 0 ALVIN O CADMAN III EVP, CHIEF CREDIT OFFICER 214491 0 83750 0 12689 0 10600 0 22613 0 344143 0 0 0 JEANNINE M JACOBSEN SVP, HUMAN RESOURCES 192379 0 60250 0 12471 0 10324 0 10862 0 286286 0 0 0 DEBRA L SPRINGER-BOWMAN SVP, RETAIL BANKING 171369 0 48590 0 10140 0 8947 0 20787 0 259833 0 0 0 REBECCA M NELSON SVP, WEALTH MANAGEMENT 169232 0 48510 0 12197 0 8939 0 19366 0 258244 0 0 0 M ANGELES HERNANDEZ SVP, LOAN ADMINISTRATION 160174 0 42896 0 4408 0 8316 0 10693 0 226487 0 0 0 JEANNIE N SUGAOKA SVP, SUPPORT SERVICES 155778 0 35243 0 5382 0 7916 0 12934 0 217253 0 0 0 MARY K DUGGAN SVP, MARKETING 158380 0 29173 0 1243 0 7683 0 17481 0 213960 0 0 0 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT OFFICER 96134 0 313211 0 1153 0 0 0 10352 0 420850 0 0 0 FRED D ABAJELO FINANCIAL ADVISOR 21509 0 261375 0 3914 0 10600 0 18961 0 316359 0 0 0 DEBORAH RUTH KRUMWIEDE FINANCIAL ADVISOR 21041 0 235276 0 1795 0 10414 0 13037 0 281563 0 0 0 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPERAT 161426 0 46016 0 7400 0 8645 0 10322 0 233809 0 0 0 ROBERT CAMERON SHERRARD SVP, COMMERCIAL REAL ESTATE LENDING 159106 0 46256 0 7744 0 8329 0 11320 0 232755 0 0 0 PART I, LINE 4B CONTRIBUTION IN THE AMOUNT OF $131,640 WAS MADE TO THE 457F PLAN IN 2015. THE ONLY ELIGIBLE EMPLOYEE WAS BARBARA KAMM. BARBARA KAMM RECEIVED A PAYOUT IN THE AMOUNT OF $746,915 DURING THE YEAR. FRED ABAJELO HCE AUTO X 26217 15280 0 0 1 FRED ABAJELO HCE MORTGAGE LOAN X 336000 37602 0 0 1 TODD HARRIS OFFICER AUTO LOAN X 53000 51447 0 0 1 TODD HARRIS OFFICER AUTO LOAN X 31377 26922 0 0 1 131251 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 11 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 XI, LINE 9: EQUITY ACQUIRED IN MERGER 1,518,707. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SUNNYVALE FEDERAL CREDIT UNION MERGED INTO TECHNOLOGY CREDIT UNION EFFECTIVE JANUARY 31, 2015.