2012-11-14T18:18:27-06:00 2011-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2011-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 TODD HARRIS 4084414748 2012-11-12 1 8189549700 2011 2016-02-24 21:20:13Z TODD HARRIS 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 64848852 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 8 301 11 381277 -399721 0 0 58035650 53263093 3204303 8683950 311111 40332 61551064 61987375 0 1614 0 0 21803552 23815228 0 0 0 37237826 34304631 59041378 58121473 2509686 3865902 1468952523 1559265262 1322586179 1398572491 146366344 160692771 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 2011 TECHNOLOGY CREDIT UNION HAD 72,343 MEMBERS WITH 1,556 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 CARED MOST ABOUT TO REORDERING A ATM OR CHECK CARD OR CHECKS 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 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. THEY CAN ACCESS THEIR BANK ACCOUNT IN ORDER TO MAKE CASH WITHDRAWALS (OR CREDIT CARD CASH ADVANCES) AND CHECK THEIR 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 FNANCIAL 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, PREFERRED RATE MEMBERSHIP TO THE SILICON VALLEY CAPITAL CLUB, AND NO CHECK HOLDS. 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 MASTERCARD - FIA, SBA LOANS, AND ACCOUNT RECEIVABLE 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 0 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 0 1 29478 0 1 301 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 NATALIA LAU 4084676928 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 MICAL BRENZEL 2.00 X 0 0 0 PETER DONAHOWER 2.00 X 0 0 0 ROBERT BYLIN 2.00 X 0 0 0 JOHN WEDGWOOD 2.00 X 0 0 0 BOB HOWARD-ANDERSON 2.00 X 0 0 0 LLOYD KOHN 2.00 X 0 0 0 JOE SHEPELA 2.00 X 0 0 0 JOHN PAUL BRUNO 2.00 X 0 0 0 TOM HALL 2.00 X 0 0 0 BOB LUONG 1.00 X 0 0 0 JAMES KOHNEN 1.00 X 0 0 0 BARBARA BALDWIN KAMM 40.00 X X 509805 0 173765 TODD MARSHALL HARRIS 40.00 X 289397 0 38820 JOSEPH ANZALONE 40.00 X 42279 0 0 LESLIE DEE JEFFRIES 40.00 X 201665 0 18525 MICHAEL KENT LUCKIN 40.00 X 183730 0 34639 JEANNINE JACOBSEN 40.00 X 181186 0 15147 M ANGELES HERNANDEZ 40.00 X 180263 0 17645 HERMAN WHITE 40.00 X 179253 0 8219 JEANNIE N SUGAOKA 40.00 X 175947 0 22231 HAROLD ROUNDTREE 40.00 X 192631 0 29818 BRANDON THOMPSON 40.00 X 176773 0 12890 DEBORAH KRUMWIEDE 40.00 X 186243 0 17669 JENNIFER LEE 40.00 X 150930 0 10898 VICTOR SMILGYS 40.00 X 149728 0 18998 RICHARD HANZ 40.00 X 145609 0 34361 LAURA CAIRNS 40.00 X 145839 0 20223 3091278 0 473848 39 0 1 0 LOEB & LOEB LLP 10100 SANTA MONICA BLVD SUITE 2200 LOS ANGELES CA 90067 LEGAL SERVICES 881054 SILVER FREEDMAN & TAFF LLP 3299 K STREET NW SUITE 100 WASHINGTON DC 20007 LEGAL SERVICES 303778 IMPERIAL PRINTING 481 VANDELL WAY CAMPBELL CA 95008 PRINTING SERVICES 279767 TOM DAVIS & ASSOCIATES 1777 HAMILTON AVE SUITE 2140 SAN JOSE CA 95125 APPRAISAL SERVICES 275425 RAM BUILDING COMPANY 1097 RIDGELEY DRIVE CAMPBELL CA 95008 CONSTRUCTION SERVICES 273824 27 INTEREST ON LOANS 522100 43090489 43078301 12188 FEE INCOME 522100 5743570 5380613 362957 OTHER OPERATING INCOME 522100 4429034 4422902 6132 53263093 8649794 8649794 2895633 2861477 34156 34156 34156 VENDOR REFUNDS 40332 40332 40332 61987375 61606098 381277 0 1614 3091278 16287537 753778 2245042 1437593 698570 202336 1217523 529499 7238021 590366 2562976 130610 5388292 3375071 3335163 PROV. FOR LOAN LOSSES 6878599 LOAN SERVICING EXPENSE 1101750 MISC OPERATING EXPENSES 906422 OPERATING FEES 123415 26018 58121473 7442439 7979639 166396984 156823710 4547544 3589879 87752 71513 41720232 20768652 20844546 20951580 281964547 458392868 971605837 900600967 16062874 10855106 1468952523 1559265262 7743704 6936013 1314842475 1391636478 1322586179 1398572491 X 0 0 0 0 146366344 160692771 146366344 160692771 1468952523 1559265262 X 3865902 10460525 X X 0 1 1 X 0 5882284 5882284 13384577 5709431 7675146 2563533 2030251 533282 19889838 13028970 6860868 20951580 ALL OTHER INVESTMENTS 6659200 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 12731914 F LOANS & LEASES 881209853 F 900600967 MEMBERS SHARES 1391496131 ACCRUED DIVIDENDS & INTEREST PAYABLE 140347 1391636478 61987375 58121473 3865902 10460525 10460525 14326427 61567871 -419504 -419504 61987375 0 61987375 57701966 -419507 -419507 58121473 0 58121473 PART XII, LINE 2D - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE -419,504. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE -419,504. ROUNDING ERROR -3. X 1 1 X X X 0 1 0 BARBARA BALDWIN KAMM 404538 0 82000 0 23267 0 150248 0 23517 0 683570 0 0 0 TODD MARSHALL HARRIS 231945 0 48992 0 8460 0 9800 0 29020 0 328217 0 0 0 LESLIE DEE JEFFRIES 172736 0 27186 0 1743 0 8060 0 10465 0 220190 0 0 0 MICHAEL KENT LUCKIN 150678 0 8210 0 24842 0 7462 0 27177 0 218369 0 0 0 JEANNINE JACOBSEN 164310 0 8640 0 8236 0 6946 0 8201 0 196333 0 0 0 M ANGELES HERNANDEZ 148410 0 28391 0 3462 0 7251 0 10394 0 197908 0 0 0 HERMAN WHITE 160000 0 10487 0 8766 0 6819 0 1400 0 187472 0 0 0 JEANNIE N SUGAOKA 146114 0 28130 0 1703 0 7125 0 15106 0 198178 0 0 0 HAROLD ROUNDTREE 114240 0 44761 0 33630 0 7590 0 22228 0 222449 0 0 0 BRANDON THOMPSON 123671 0 30377 0 22725 0 6820 0 6070 0 189663 0 0 0 DEBORAH KRUMWIEDE 18978 0 165950 0 1315 0 7506 0 10163 0 203912 0 0 0 JENNIFER LEE 139561 0 0 0 11369 0 5114 0 5784 0 161828 0 0 0 VICTOR SMILGYS 122796 0 10851 0 16081 0 3955 0 15043 0 168726 0 0 0 RICHARD HANZ 138778 0 3500 0 3331 0 5991 0 28370 0 179970 0 0 0 LAURA CAIRNS 136184 0 9289 0 366 0 5972 0 14251 0 166062 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 $140,488 WAS MADE TO THE 457F PLAN IN 2011. THE ONLY ELIGIBLE EMPLOYEE WAS BARBARA KAMM. BYLIN ROBERT MORTGAGE LOAN X 155000 129030 0 1 1 ROUNDTREE HAROLD B UNSECURED LINE OF CREDIT X 14000 34 0 0 1 ROUNDTREE HAROLD B HOME EQUITY LINE OF CREDIT X 196783 196783 0 0 1 JEFFRIES LESLIE MORTGAGE LOAN X 500000 429286 0 0 1 WEDGEWOOD JOHN HOME EQUITY LINE OF CREDIT X 498418 498418 0 1 1 WEDGEWOOD JOHN MORTGAGE LOAN X 175000 124949 0 1 1 HARRIS TODD M NEW AUTO X 35000 25480 0 0 1 HARRIS TODD M MORTGAGE LOAN X 408000 398476 0 0 1 MICHAEL LUCKIN X 126000 62805 0 0 1 DONAHOWER PETER UNSECURED LINE OF CREDIT X 7500 308 0 1 1 VICTOR SMILGYS MORTGAGE LOAN X 235000 221414 0 0 1 LORI CAIRNS NEW AUTO X 45815 38382 0 0 1 LORI CAIRNS MORTGAGE LOAN X 339300 322308 0 0 1 TODD HARRIS MORTGAGE LOAN X 218000 216338 0 0 1 RICHARD HANZ USED AUTO X 20000 17685 0 0 1 RICHARD HANZ MORTGAGE LOAN X 515000 503457 0 0 1 JEANNINE JACOBSEN MORTGAGE LOAN X 412000 404726 0 0 1 3589879 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 10,460,525. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.