2011-11-14T17:32:51-06:00 2010-12-31 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2010-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 TODD HARRIS 4084414748 2011-11-09 1 8189549700 2010 2016-03-07 17:11:31Z TODD HARRIS 2010 NORTH FIRST STREET NO 301 SAN JOSE CA 95131 61551916 0 X WWW.TECHCU.COM X CREDIT UNION 1960 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 10 9 301 14 371899 -140352 0 0 63397352 58035650 991139 3204303 7197209 311111 71585700 61551064 0 0 0 0 21027411 21803552 0 0 0 59568491 37237826 80595902 59041378 -9010202 2509686 1335766404 1468952523 1187869260 1322586179 147897144 146366344 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 2010 TECHNOLOGY CREDIT UNION HAS 74,073 MEMBERS WITH 1,515 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 27854 0 1 301 1 1 1 0 0 0 0 0 0 0 X 10 9 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 CA X JENNIFER LEE 4084414748 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 MICAL BRENZEL 1.00 X 0 0 0 PETER DONAHOWER 1.00 X 0 0 0 ROBERT BYLIN 1.00 X 0 0 0 JOHN WEDGEWOOD 1.00 X 0 0 0 JOE SHEPELA 1.00 X 0 0 0 LLOYD KOHN 1.00 X 0 0 0 BOB HOWARD-ANDERSON 1.00 X 0 0 0 CYNTHIA ERICKSON 1.00 X 0 0 0 JOHN BRUNO 1.00 X 0 0 0 BOB LUONG 1.00 X 0 0 0 ROBERT PRANTIS 1.00 X 0 0 0 TOM HALL 1.00 X 0 0 0 JAMES KOHNEN 1.00 X 0 0 0 CHARLES DOLCI 1.00 X 0 0 0 BARBARA BALDWIN KAMM 40.00 X X 518516 0 163437 TODD MARSHALL HARRIS 40.00 X 137793 0 14048 LESLIE DEE JEFFRIES 40.00 X 218771 0 18171 VIKTORIA EARLE 40.00 X 193556 0 29351 M ANGELES HERNANDEZ 40.00 X 181959 0 16407 MICHAEL KENT LUCKIN 40.00 X 200455 0 28045 HAROLD B ROUNDTREE 40.00 X 225210 0 32197 JEANNIE N SUGAOKA 40.00 X 173764 0 18876 BRANDON J THOMPSON 40.00 X 157834 0 12356 STEPHEN JAY BAKER 40.00 X 185750 0 21017 BEATRICE R CARRILLO 40.00 X 148031 0 22333 IE-CHEN CHENG 40.00 X 145843 0 13638 STEVEN G NAYLOR 40.00 X 137399 0 14639 POONAM GOYAL 40.00 X 151073 0 28708 STEVEN R FISHER 40.00 X 269079 0 22876 3045033 0 456099 40 0 1 0 LOEB & LOEB LLP 10100 SANTA MONICA BLVD SUITE 2200 LOS ANGELES CA 90067 LEGAL SERVICES 399256 JACK HENRY & ASSOCIATES INC 663 W HIGHWAY 60 PO BOX 807 MONETT MO 65708 SOFTWARE MAINTENANCE 359891 INFOIMAGE INC 141 JEFFERSON DRIVE MENLO PARK CA 94025 MEMBER STATEMENTS 328949 TOM DAVIS & ASSOCIATES 3540 WHEELER ROAD SUITE 206 AUGUSTA GA 30917 APPRAISAL SERVICES 284075 RAM BUILDING COMPANY 1097 RIDGELEY DRIVE CAMPBELL CA 95008 CONTRUCTION SERVICES 219027 16 INTEREST ON LOANS 522100 48054862 48046415 8447 FEE INCOME 522100 9324648 8966894 357754 OTHER OPERATING INCOME 522100 656140 650442 5698 58035650 3205155 3205155 852 -852 -852 -852 OTHER NON-OPERATING IN 522100 311111 311111 311111 61551064 61179165 371899 0 3045035 14389300 678346 2397272 1293599 659798 192780 855043 503346 5552649 1982081 2034185 304688 7696273 2955565 3074867 PROVISION FOR LOAN LOSS 10003291 LOAN SERVICING EXPENSE 1044610 MISCELLANEOUS OPERATING 268990 OPERATING FEES 109660 59041378 8929577 7442439 142282124 166396984 3699775 4547544 38673792 17829246 21589580 20844546 7095192 281964547 1140293155 971605837 11877001 16150626 1335766404 1468952523 8201341 7743704 1179667919 1314842475 1187869260 1322586179 X 0 0 0 0 147897144 146366344 147897144 146366344 1335766404 1468952523 X 2509686 -4040486 X 0 1 1 X 0 5882284 5882284 13384577 5311421 8073156 2587070 1863947 723123 16819861 10653878 6165983 20844546 INVESTMENT IN CORPORATE CREDIT UNIONS 32000000 F OTHER INVESTMENTS 6298100 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 11839303 F LOANS & LEASES 921468434 F 971605837 MEMBERS SHARES 1314634449 ACCRUED DIVIDENDS & INTEREST PAYABLE 208026 1314842475 61551064 59041378 2509686 -4040486 -4040486 -1530800 62393348 842284 842284 61551064 0 61551064 59883662 842284 842284 59041378 0 59041378 PART XII, LINE 2D - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 842,284. PART XIII, LINE 2D - OTHER ADJUSTMENTS: ITEMS RECLASSIFIED BETWEEN REVENUE AND EXPENSE 842,284. X 1 1 X X X 0 1 0 BARBARA BALDWIN KAMM 517068 0 0 0 1448 0 151746 0 11691 0 681953 0 0 0 TODD MARSHALL HARRIS 136892 0 0 0 901 0 3037 0 11011 0 151841 0 0 0 LESLIE DEE JEFFRIES 180235 0 37447 0 1089 0 8783 0 9388 0 236942 0 0 0 VIKTORIA EARLE 159962 0 33196 0 398 0 8062 0 21289 0 222907 0 0 0 M ANGELES HERNANDEZ 141097 0 29465 0 11397 0 7321 0 9086 0 198366 0 0 0 MICHAEL KENT LUCKIN 161426 0 33835 0 5194 0 8137 0 19908 0 228500 0 0 0 HAROLD B ROUNDTREE 174466 0 36878 0 13866 0 9188 0 23009 0 257407 0 0 0 JEANNIE N SUGAOKA 137492 0 28702 0 7570 0 7090 0 11786 0 192640 0 0 0 BRANDON J THOMPSON 154687 0 2788 0 359 0 6243 0 6113 0 170190 0 0 0 STEPHEN JAY BAKER 139597 0 23511 0 22642 0 7538 0 13479 0 206767 0 0 0 BEATRICE R CARRILLO 106371 0 35005 0 6655 0 6079 0 16254 0 170364 0 0 0 IE-CHEN CHENG 123547 0 21958 0 338 0 6063 0 7575 0 159481 0 0 0 STEVEN G NAYLOR 128155 0 6977 0 2267 0 5553 0 9086 0 152038 0 0 0 POONAM GOYAL 17271 0 133363 0 439 0 6199 0 22509 0 179781 0 0 0 STEVEN R FISHER 165301 0 86714 0 17064 0 9800 0 13076 0 291955 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 $141,946 WAS MADE TO THE 457F PLAN IN 2010. THE ONLY ELIGIBLE EMPLOYEE WAS BARBARA KAMM. BYLIN ROBERT MORTGAGE LOAN X 155000 139760 0 1 1 CARRILLO BEATRICE UNSECURED LINE OF CREDIT X 15000 12738 0 0 1 CARRILLO BEATRICE NEW AUTO X 39651 7008 0 0 1 CARRILLO BEATRICE HOME EQUITY LINE OF CREDIT X 586000 49400 0 0 1 CARRILLO BEATRICE MORTGAGE LOAN X 727000 649913 0 0 1 BAKER STEPHEN J HOME EQUITY LINE OF CREDIT X 29664 29664 0 0 1 BAKER STEPHEN J MORTGAGE LOAN X 328000 290696 0 0 1 NAYLOR STEVEN G MORTGAGE LOAN X 488000 469759 0 0 1 GOYAL POONAM MORTGAGE LOAN X 566000 544811 0 0 1 BRUNO JOHN UNSECURED LINE OF CREDIT X 3000 1816 0 1 1 BRUNO JOHN NEW AUTO X 45000 7677 0 1 1 BRUNO JOHN HOME EQUITY LINE OF CREDIT X 65000 65000 0 1 1 ROUNDTREE HAROLD B UNSECURED LINE OF CREDIT X 14000 4067 0 0 1 ROUNDTREE HAROLD B HOME EQUITY LINE OF CREDIT X 196783 196783 0 0 1 JEFFRIES LESLIE MORTGAGE LOAN X 500000 454052 0 0 1 WEDGEWOOD JOHN HOME EQUITY LINE OF CREDIT X 496144 496144 0 1 1 WEDGEWOOD JOHN MORTGAGE LOAN X 175000 129142 0 1 1 CHENG IE-CHEN MORTGAGE LOAN X 371250 357352 0 0 1 HARRIS TODD M NEW AUTO X 35000 32214 0 0 1 HARRIS TODD M MORTGAGE LOAN X 408000 406662 0 0 1 ANGIE HERNANDEZ X 24357 4590 0 0 1 ANGIE HERNANDEZ X 64117 61258 0 0 1 ANGIE HERNANDEZ X 235000 70982 0 0 1 MICHAEL LUCKIN X 126000 66056 0 0 1 DONAHOWER PETER UNSECURED LINE OF CREDIT X 7500 0 0 1 1 ROUNDTREE HAROLD B USED AUTO X 40000 0 0 0 1 4547544 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 SVP OF FINANCE 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 LOSSES ON INVESTMENTS: -4,040,486.