Civic Intelligence

Technology Credit Union

EIN 94-1651781 • 501(c)14 • San Jose, CA

Profile

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.

2010 North First Street Suite 301San Jose, CA 95131

www.techcu.com

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

58th percentile

0.91x

Higher debt load relative to assets than 58% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Liabilities / Revenue

81st percentile

18.16x

Higher debt load relative to revenue than 81% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Net Margin

8th percentile

0.4%

Higher net margin than 8% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

21st percentile

-1.2%

Faster asset growth than 21% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Revenue Growth

6th percentile

1.8%

Faster revenue growth than 6% of similar nonprofits.

501(c)14 • $1B+ nonprofits • Annualized from 2023 to 2024

Assets

Down

$4,768,851,732

Down $57,242,526 (-1.2%) from 2023

Liabilities

Down

$4,349,076,726

Down $66,327,767 (-1.5%) from 2023

Net Assets

Up

$419,775,006

Up $9,085,241 (+2.2%) from 2023

Revenue

Up

$239,450,752

Up $4,200,225 (+1.8%) from 2023

Expenses

Up

$238,575,988

Up $19,794,917 (+9.0%) from 2023

Net Income

Down

$874,764

Down $15,594,692 (-95%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$6.0B$4.0B$2.0B$0Assets 2010: $1,468,952,523Liabilities 2010: $1,322,586,179Net Assets 2010: $146,366,3442010Assets 2011: $1,559,265,262Liabilities 2011: $1,398,572,491Net Assets 2011: $160,692,7712011Assets 2012: $1,704,859,293Liabilities 2012: $1,533,958,993Net Assets 2012: $170,900,3002012Assets 2013: $1,762,161,707Liabilities 2013: $1,584,024,561Net Assets 2013: $178,137,1462013Assets 2014: $1,828,556,311Liabilities 2014: $1,632,337,659Net Assets 2014: $196,218,6522014Assets 2015: $2,065,689,522Liabilities 2015: $1,858,488,026Net Assets 2015: $207,201,4962015Assets 2016: $2,197,851,016Liabilities 2016: $1,972,627,588Net Assets 2016: $225,223,4282016Assets 2017: $2,486,059,659Liabilities 2017: $2,233,074,386Net Assets 2017: $252,985,2732017Assets 2018: $2,735,042,383Liabilities 2018: $2,450,738,803Net Assets 2018: $284,303,5802018Assets 2019: $3,045,579,402Liabilities 2019: $2,722,869,481Net Assets 2019: $322,709,9212019Assets 2020: $3,691,098,663Liabilities 2020: $3,324,529,939Net Assets 2020: $366,568,7242020Assets 2021: $4,123,158,923Liabilities 2021: $3,695,919,856Net Assets 2021: $427,239,0672021Assets 2022: $4,544,569,780Liabilities 2022: $4,154,677,687Net Assets 2022: $389,892,0932022Assets 2023: $4,826,094,258Liabilities 2023: $4,415,404,493Net Assets 2023: $410,689,7652023Assets 2024: $4,768,851,732Liabilities 2024: $4,349,076,726Net Assets 2024: $419,775,0062024

Highlighted filing

2024

Assets$4,768,851,732
Liabilities$4,349,076,726
Net Assets$419,775,006

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$300M$200M$100M$0Expenses 2010: $59,041,3782010Expenses 2011: $58,121,4732011Expenses 2012: $51,997,8902012Revenue 2013: $62,772,690Expenses 2013: $45,968,658Net Income 2013: $16,804,0322013Revenue 2014: $59,113,306Expenses 2014: $44,477,241Net Income 2014: $14,636,0652014Revenue 2015: $64,511,413Expenses 2015: $49,457,977Net Income 2015: $15,053,4362015Revenue 2016: $72,902,056Expenses 2016: $53,811,377Net Income 2016: $19,090,6792016Revenue 2017: $92,439,784Expenses 2017: $64,645,656Net Income 2017: $27,794,1282017Revenue 2018: $111,143,972Expenses 2018: $78,011,462Net Income 2018: $33,132,5102018Revenue 2019: $132,366,057Expenses 2019: $100,705,942Net Income 2019: $31,660,1152019Revenue 2020: $137,209,016Expenses 2020: $100,803,253Net Income 2020: $36,405,7632020Revenue 2021: $173,209,130Expenses 2021: $94,424,660Net Income 2021: $78,784,4702021Revenue 2022: $196,279,690Expenses 2022: $137,568,880Net Income 2022: $58,710,8102022Revenue 2023: $235,250,527Expenses 2023: $218,781,071Net Income 2023: $16,469,4562023Revenue 2024: $239,450,752Expenses 2024: $238,575,988Net Income 2024: $874,7642024

Highlighted filing

2024

Revenue$239,450,752
Expenses$238,575,988
Net Income$874,764

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$4,769$4,349$420$239$239$0.87
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,826$4,415$411$235$219$16.5
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4,545$4,155$390$196$138$58.7
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4,123$3,696$427$173$94.4$78.8
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3,691$3,325$367$137$101$36.4
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3,046$2,723$323$132$101$31.7
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,735$2,451$284$111$78.0$33.1
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,486$2,233$253$92.4$64.6$27.8
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,198$1,973$225$72.9$53.8$19.1
2015XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2,066$1,858$207$64.5$49.5$15.1
2014Detailed filing. Detailed filing data is available for this year.$1,829$1,632$196$59.1$44.5$14.6
2013Detailed filing. Detailed filing data is available for this year.$1,762$1,584$178$62.8$46.0$16.8
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,705$1,534$171$52.0
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,559$1,399$161$58.1
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1,469$1,323$146$59.0
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 5, 2025
Return Version
2024v5.2
Gross Receipts
$239,450,752
Mission and Program Overview

Mission

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.

A cooperative, organized for the purpose of promoting thrift and savings among its members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Program Related$3,521,883,119$3,291,883,413▼ $229,999,706
Investments in Publicly Traded Securities$616,064,532$858,242,613▲ $242,178,081
Savings and Temporary Cash Investments$590,887,498$520,123,723▼ $70,763,775
Rtn Earn Endowment Incm Other Fnds$410,689,765$419,775,006▲ $9,085,241
Receivables From Officers Etc$24,509,472$26,624,236▲ $2,114,764
Land, Buildings, and Equipment, Net$21,771,052$20,461,593▼ $1,309,459
Cash and Non-Interest-Bearing Accounts$8,210,298$6,219,053▼ $1,991,245
Prepaid Expenses and Deferred Charges$556,824$1,229,578▲ $672,754
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$4,826,094,258$4,768,851,732▼ $57,242,526
Other Assets Total$42,211,463$44,067,523▲ $1,856,060
Liabilities
Other Liabilities$4,358,799,565$4,318,522,435▼ $40,277,130
Accounts Payable and Accrued Expenses$56,604,928$30,554,291▼ $26,050,637
Total Liabilities$4,415,404,493$4,349,076,726▼ $66,327,767
Net Assets / Fund Balance
Total Net Assets Fund Balance$410,689,765$419,775,006▲ $9,085,241
Total Liabilities and Net Assets / Fund Balance$4,826,094,258$4,768,851,732▼ $57,242,526

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$4,300,991$20,228,684$24,529,675
Buildings$3,112,187$9,883,869$12,996,056
Leasehold Improvements$3,658,442$8,708,905$12,367,347
Land$5,882,284-$5,882,284
Other Land Buildings$3,507,689-$3,507,689
Investment Program Related Org$3,247,443,184--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Todd HarrisPresident/CEO, Secretary/treasurerFT$735,681$266,246$1,001,927
Sunder SrinivasanEvp, Chief Information OfficerFT$390,776$166,507$557,283
Fred D AbajeloSr. Financial AdvisorFT$96,906$460,139$557,045
Jeannine M JacobsenEvp, Chief Operating OfficerFT$369,548$140,796$510,344
Richard HanzEvp, Chief Financial OfficerFT$352,839$143,672$496,511
Douglas StovelandEvp, Chief Credit OfficerFT$310,624$150,700$461,324
Joseph AnzaloneEvp,chief Commercial Banking OfficerFT$307,318$144,600$451,918
Robert ReedEvp, Chief Retail Banking OfficerFT$338,962$96,596$435,558
Azad RadSVP, Wealth ManagementFT$194,255$147,685$341,940
Fawzia Sarwar-shayekSVP, Retail BankingFT$249,226$89,740$338,966
Kamran NaqviSVP, Head of DigitalFT$288,462$47,645$336,107
M Angeles HernandezSVP, Head of Emerging Retail Lending Products & StFT$291,686$32,234$323,920
M Angeles HernandezSVP, Head of Emerging Retail Lending-$249,698$74,222$323,920
Jeannine L Creighton-boettcherHead of Hr & Corporate ServicesFT$231,084$87,484$318,568
Niki WongSVP, Commercial/sba Lending & OpsFT$233,321$80,012$313,333
Joshua BluhmSVP,head of Retail Credit Risk & OpsFT$241,800$70,479$312,279
Franca LovelaceHead of Enterprise Risk ManagementFT$225,806$83,266$309,072
Teresa WuSVP, Commercial Credit AdminFT$237,431$64,145$301,576
Deborah KrumwiedeSr. Financial AdvisorFT$83,925$205,442$289,367
Brenda JaimesHead of Business Process ServicesFT$215,011$73,880$288,891
Natalia LauSVP, ControllerFT$218,473$53,263$271,736
Paulette MehasSVP, TreasuryFT$237,166$28,327$265,493
Deepti JaggiDirector-$17,920-$17,920
Karen BrochierDirector-$17,483-$17,483
Firasat AliSupv Cmte Vice Chair-$15,794-$15,794
Madonna BolanoDirector-$14,765-$14,765
Robert HerbDirector-$13,851-$13,851
Barbara KammBoard Vice Chair-$11,652-$11,652
Mical BrenzelBoard Chairman-$10,919-$10,919
Jeff LeeSupv Cmte Member-$8,481-$8,481
Peter DonahowerDirector-$6,588-$6,588
Bob LuongSupv Cmte Member-$6,000-$6,000
Kirk BloedeDirector-$5,747-$5,747
Faisal JeddySupv Cmte Member-$4,714-$4,714
Carol MackinlayDirector-$4,189-$4,189

Board Members and Trustees

NameTitle
Jessica CassinelliSupv Cmte Chairman
Linda ItskovitzDirector
Sunil NagdevDirector

Highest Paid Contractors

ContractorServicesLocationCompensation
Sunlight Financial LLCLoan Servicing234 W 39TH ST 7TH FLOOR, New York, NY 10018$2,020,349
Hasso Plattner Dba San Jose Sharks LLCMarketing525 WEST SANTA CLARA STREET, San Jose, CA 95113$1,305,810
Joseph & Cohen Professional ServicesLegal1853 MARKET STREET, San Francisco, CA 94103$1,175,105
Gordon & Rees LLPLegal100 PRINGLE AVENUE SUITE 300, Walnut Creek, CA 94596-3580$695,836
Kodiak Solutions LLCTech,info And Media330 EAST JEFFERSON BLVD, South Bend, IN 46601$351,502
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$187,716,761
Investment Income
$51,411,973
Other Revenue
$322,018
Change in Net Assets
$874,764
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$183,361,820
Salaries, Compensation, and Employee Benefits$55,141,398
Grants and Similar Amounts Paid$72,770
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest---$125,344,748
Other Salaries and Wages---$36,042,236
Information Technology---$9,806,895
Current Officers, Directors, Trustees, and Key Employees---$7,738,214
Office Expenses---$6,064,279
Other Employee Benefits---$5,465,077
Advertising---$4,354,437
Occupancy---$3,510,532
Payroll Taxes---$3,059,140
Pension Plan Contributions---$2,836,731
Depreciation Depletion---$2,726,731
Fees for Services Other---$1,999,038
Fees for Services Legal---$867,076
Fees for Services Accounting---$650,193
Other Expenses---$453,736
Travel---$329,602
Insurance---$77,633
Grants to Domestic Orgs---$72,770
All Other Expenses---$31,403
Total Functional Expenses$0$0$0$238,575,988
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$67,770
Total Exempt Function Spending$67,770

Section 527 Organizations

OrganizationLocationAmount
94-0357265Ontario, CA$67,770
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Officers, Directors, Trustees, and Key Employees$24,509,472$26,624,236▲ $2,114,764
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Members Shares$3,901,783,073
Borrowings$400,000,000
Accrued Dividends & Interest Payable$16,739,362
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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 svp, corporate controller 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 15

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, using benchmarked data provided by a third-party consulting firm and salary surveys, and geographic pay differentials are taken into consideration. For other officers of the credit union, compensation is also determined not just based on performance, but based on benchmarked data provided by a third-party consulting firm and salary surveys, adjusted for geographic pay differentials.

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.

Filing and Contact Details

Filer

Filer Name
Technology Credit Union
EIN
94-1651781
Phone
4084519111
Address
2010 NORTH FIRST STREET SUITE 301, SAN JOSE, CA 95131

Signing Officer

Name
Richard Hanz
Title
Evp/CFO
Phone
4084373782
Signed
2025-11-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Todd Harris
Formed
1960
Legal Domicile
CA
Voting Board Members
11
Independent Board Members
10
Employees
374
Volunteers
15

Preparer

Firm
Turner Warren Hwang & Conrad Acctcy
Address
100 NORTH FIRST ST STE 202, BURBANK, CA 91502
Preparer
Natalie Hull CPA
Phone
8189549700
Supplemental Narrative

Additional Explanations

FORM 990, PART V, LINE 1A:

The total count of forms for 2024 includes 34 1099-c's for tax year 2023 that were filed in 2024.

FORM 990, PART XII, LINE 2C:

The organization has not changed either its oversight process or selection process during the tax year.

Financial Statement Notes

PART X, LINE 2:

The credit union is exempt by statute from federal and state income taxes, except for taxes on unrelated business income. The cuso is a single member limited liability company whose profits flow through to the member and is subject to the state of california limited liability company annual fee and gross receipts tax. Fasb asc 740-10-65, income taxes, provides guidance for how uncertain tax positions should be recognized, measured, disclosed and presented in the consolidated financial statements. This requires the evaluation of tax positions taken or expected to be taken in the course of preparing the credit union's tax returns to determine whether the tax positions are "more likely than not" of being sustained "when challenged or "when examined" by the applicable tax authority. Tax positions deemed to not meet the more-likely-than-not threshold should be recorded as a tax expense and liability in the current year. For the years ended december 31, 2024 and 2023, management has determined that there are no material uncertain tax positions requiring recognition in the consolidated financial statements.

Raw XML AppendixShowing 400 of 1,117 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0DURING 2024 TECHNOLOGY CREDIT UNION HAD 201,138 MEMBERS WITH 451 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.
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IRS990/Form990PartVIISectionAGrp/TitleTxt26SVP,HEAD OF RETAIL CREDIT RISK & OPS
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IRS990/Form990PartVIISectionAGrp/TitleTxt28HEAD OF ENTERPRISE RISK MANAGEMENT
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IRS990/Form990PartVIISectionAGrp/TitleTxt30SVP, TREASURY
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IRS990/Form990PartVIISectionAGrp/TitleTxt32SR. FINANCIAL ADVISOR
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IRS990/Form990PartVIISectionAGrp/TitleTxt34SVP, COMMERCIAL CREDIT ADMIN
IRS990/Form990PartVIISectionAGrp/TitleTxt35SVP, COMMERCIAL/SBA LENDING & OPS
IRS990/Form990PartVIISectionAGrp/TitleTxt36SR. FINANCIAL ADVISOR
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