2015-11-10T18:52:59-06:00 2014-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2014-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 TODD HARRIS EVP CFO/CAO 4084414748 2015-11-10 1 VALENTINO CREUS CPA P01054153 8189549700 2014 2016-02-25 16:41:14Z TODD HARRIS 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 145854260 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 8 268 14 296829 -2372 0 0 48334658 47220205 8958088 9959475 5479944 1933626 62772690 59113306 0 7635 0 0 23006655 23931986 0 0 0 22962003 20537620 45968658 44477241 16804032 14636065 1762161707 1828556311 1584024561 1632337659 178137146 196218652 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 2014 TECHNOLOGY CREDIT UNION HAD 71,556 MEMBERS WITH 439 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 1 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 29244 0 1 268 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 PETER DONAHOWER 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 JOHN PAUL BRUNO DIRECTOR 2.00 X 0 0 0 ROBERT BYLIN DIRECTOR 2.00 X 0 0 0 JOE SHEPELA DIRECTOR 2.00 X 0 0 0 JOHN WEDGWOOD DIRECTOR 2.00 X 0 0 0 TOM HALL SUPV CMTE CHAIR 2.00 X 0 0 0 STEVEN FISHER 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 CEO/BOARD TREASURER & SECR 40.00 X X 675006 0 216896 TODD MARSHALL HARRIS EVP CFO/CAO 40.00 X 370592 0 36921 JOSEPH ANZALONE EVP, CHIEF BANK OFFICER 40.00 X 320319 0 35286 ALVIN CADMAN III EVP, CHIEF CREDIT OFFICER 40.00 X 307542 0 30369 JEANNINE JACOBSEN SVP HUMAN RESOURCES 40.00 X 241014 0 19343 REBECCA M NELSON SVP WEALTH MANAGEMENT 40.00 X 219664 0 28075 DEBRA L SPRINGER-BOWMAN SVP RETAIL BANKING 40.00 X 214667 0 31223 M ANGELES HERNANDEZ SVP LOAN ADMIN 40.00 X 192997 0 17593 JEANNIE N SUGAOKA SVP SUPPORT SERVICES 40.00 X 190254 0 20822 DEBORAH R KRUMWIEDE FINANCIAL ADVISOR 40.00 X 306440 0 20157 FRED D ABAJELO FINANCIAL ADVISOR 40.00 X 301302 0 27112 BAHMAN NOSRATI SHAMLOU AVP, MORTGAGE ORIGINATIONS 40.00 X 266738 0 32736 TREVOR JOHNSON FINANCIAL ADVISOR 40.00 X 233066 0 17360 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT 40.00 X 221743 0 8892 4061344 0 542785 56 0 1 0 TOM DAVIS & ASSOCIATES 1777 HAMILTON AVE SUITE 2140 SAN JOSE CA 95125 LEGAL SERVICES 294300 JOSEPH & COHEN PROFESSIONAL SERVICES 1855 MARKET ST SAN FRANCISCO CA 94103 LEGAL SERVICES 244979 BAYVIEW RESIDENTIAL BROKERAGE 1925 S WINCHESTER BLVD SUITE 106 CAMPBELL CA 95008 LOAN SERVICES 214389 MOSS ADAMS LLP PO BOX 748369 LOS ANGELES CA 900748369 AUDIT SERVICES 203430 SPECTRUM FAMILY OF COMPANIES LLC 19762 MACARTHUR BLVD IRVINE CA 92612 LOAN SERVICES 167220 9 INTEREST ON LOANS 522100 36747246 36676032 71214 OTHER OPERATING INCOME 522100 7436607 7434953 1654 FEE INCOME 522100 3036352 2812391 223961 47220205 9835305 9835305 86865124 86740954 124170 124170 124170 PROV FOR LOAN AND LEAS 522100 1527992 1527992 OTHER NON-OPERATING IN 522100 405634 405634 1933626 59113306 58816477 296829 0 7635 4061344 15595740 749800 2250170 1274932 471771 236286 1114530 645047 6792381 627523 2829692 256004 3403164 2234455 131638 LOAN SERVICING EXPENSE 1120544 MISC OPERATING EXPENSES 511430 OPERATING FEES 163155 44477241 5919076 8751439 159414805 110458736 886164 251943 228049 275347 40526337 23904130 17810844 16622207 636884697 597460494 931866666 1082571341 9151406 12164804 1762161707 1828556311 8584802 11162078 1575439759 1621175581 1584024561 1632337659 X 0 0 0 0 178137146 196218652 178137146 196218652 1762161707 1828556311 14636065 3445441 0 X X 0 1 X 1 0 5882284 5882284 13388902 6842034 6546868 3109542 2372284 737258 18145609 14689812 3455797 16622207 ALL OTHER INVESTMENTS 18800000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 13985127 C LOANS & LEASES 1049786214 F 1082571341 MEMBERS SHARES 1621112397 ACCRUED DIVIDENDS & INTEREST PAYABLE 63184 1621175581 X 57585314 0 57585314 1527992 1527992 59113306 42949249 0 42949249 1527992 1527992 44477241 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, 2014 AND 2013, MANAGEMENT HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 1,527,992. PART XII, LINE 4B - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 1,527,992. X 1 1 X X X 0 1 0 BARBARA BALDWIN KAMM CEO/BOARD TREASURER & SECR 449801 0 202017 0 23188 0 195183 0 21713 0 891902 0 0 0 TODD MARSHALL HARRIS EVP CFO/CAO 266585 0 95000 0 9007 0 10400 0 26521 0 407513 0 0 0 JOSEPH ANZALONE EVP, CHIEF BANK OFFICER 230711 0 80000 0 9608 0 8636 0 26650 0 355605 0 0 0 ALVIN CADMAN III EVP, CHIEF CREDIT OFFICER 216251 0 75000 0 16291 0 10400 0 19969 0 337911 0 0 0 JEANNINE JACOBSEN SVP HUMAN RESOURCES 188233 0 44000 0 8781 0 9345 0 9998 0 260357 0 0 0 REBECCA M NELSON SVP WEALTH MANAGEMENT 167389 0 40000 0 12275 0 8513 0 19562 0 247739 0 0 0 DEBRA L SPRINGER-BOWMAN SVP RETAIL BANKING 164493 0 40000 0 10174 0 8365 0 22858 0 245890 0 0 0 M ANGELES HERNANDEZ SVP LOAN ADMIN 160355 0 28000 0 4642 0 7728 0 9865 0 210590 0 0 0 JEANNIE N SUGAOKA SVP SUPPORT SERVICES 154946 0 30000 0 5308 0 7702 0 13120 0 211076 0 0 0 DEBORAH R KRUMWIEDE FINANCIAL ADVISOR 19720 0 284800 0 1920 0 10400 0 9757 0 326597 0 0 0 FRED D ABAJELO FINANCIAL ADVISOR 17992 0 280640 0 2670 0 10400 0 16712 0 328414 0 0 0 BAHMAN NOSRATI SHAMLOU AVP, MORTGAGE ORIGINATIONS 15723 0 245921 0 5094 0 10400 0 22336 0 299474 0 0 0 TREVOR JOHNSON FINANCIAL ADVISOR 19720 0 212667 0 679 0 9351 0 8009 0 250426 0 0 0 BRIAN EVANS VP, SBA BUSINESS DEVELOPMENT 98608 0 122482 0 653 0 0 0 8892 0 230635 0 0 0 PART I, LINE 1A HEALTH CLUB DUES ARE REIMBURSABLE TO EMPLOYEES THROUGH THE EXPENSE REIMBURSEMENT PROCESS AND NOT TREATED AS TAXABLE COMPENSATION. PART I, LINE 4B CONTRIBUTION IN THE AMOUNT OF $167,283 WAS MADE TO THE 457F PLAN IN 2014. THE ONLY ELIGIBLE EMPLOYEE WAS BARBARA KAMM. HARRIS TODD M OFFICER NEW AUTO X 35000 4296 0 0 1 FRED ABAJELO HCE AUTO X 26217 18926 0 0 1 FRED ABAJELO HCE MORTGAGE LOAN X 336000 228721 0 0 1 251943 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 XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. SEE ATTACHED FORM 3115 FOR TECHNOLOGY CREDIT UNION (94-1651781).