2025-11-06T17:47:33-06:00 2024-12-31 954083485 TURNER WARREN HWANG & CONRAD ACCTCY 100 NORTH FIRST ST STE 202 BURBANK CA 91502 990 2024-01-01 941651781 TECHNOLOGY CREDIT UNION TECH 4084519111 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 RICHARD HANZ EVP/CFO 4084373782 2025-11-05 1 1 NATALIE HULL CPA P00089332 8189549700 2024 2025-03-06 01:10:19Z TODD HARRIS 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 239450752 0 X WWW.TECHCU.COM X CREDIT UNION 1960 CA A COOPERATIVE, ORGANIZED FOR THE PURPOSE OF PROMOTING THRIFT AND SAVINGS AMONG ITS MEMBERS. 11 10 374 15 4507515 1049007 0 0 201781629 187716761 32926101 51411973 542797 322018 235250527 239450752 29623 72770 0 0 53685365 55141398 0 0 0 165066083 183361820 218781071 238575988 16469456 874764 4826094258 4768851732 4415404493 4349076726 410689765 419775006 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 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. 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 HAS ALSO MOVED FROM CETERA TO LPL FINANCIAL SERVICES TO PROVIDE BETTER INVESTMENT OPTIONS FOR ITS MEMBERS. 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 1 0 0 0 0 0 0 1 0 1 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 X 40630 0 1 374 1 1 1 0 0 0 0 0 0 0 X 11 10 0 0 0 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X X NATALIA LAU SVP CORPORATE CONTROLLER 4084676928 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 MICAL BRENZEL BOARD CHAIRMAN 3.00 X 10919 0 0 BARBARA KAMM BOARD VICE CHAIR 3.00 1.00 X 11652 0 0 KIRK BLOEDE DIRECTOR 3.00 X 5747 0 0 MADONNA BOLANO DIRECTOR 3.00 X 14765 0 0 KAREN BROCHIER DIRECTOR 3.00 X 17483 0 0 PETER DONAHOWER DIRECTOR 3.00 X 6588 0 0 DEEPTI JAGGI DIRECTOR 3.00 X 17920 0 0 SUNIL NAGDEV DIRECTOR 3.00 X 0 0 0 CAROL MACKINLAY DIRECTOR 3.00 X 4189 0 0 LINDA ITSKOVITZ DIRECTOR 3.00 X 0 0 0 ROBERT HERB DIRECTOR 3.00 X 13851 0 0 JESSICA CASSINELLI SUPV CMTE CHAIRMAN 2.00 X 0 0 0 FIRASAT ALI SUPV CMTE VICE CHAIR 1.50 X 15794 0 0 FAISAL JEDDY SUPV CMTE MEMBER 1.50 X 4714 0 0 JEFF LEE SUPV CMTE MEMBER 1.50 X 8481 0 0 BOB LUONG SUPV CMTE MEMBER 1.50 X 6000 0 0 TODD HARRIS PRESIDENT/CEO, SECRETARY/TREASURER 40.00 X X 933805 0 68122 RICHARD HANZ EVP, CHIEF FINANCIAL OFFICER 40.00 X 429541 0 66970 SUNDER SRINIVASAN EVP, CHIEF INFORMATION OFFICER 40.00 X 489764 0 67519 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFICER 40.00 X 473692 0 36652 ROBERT REED EVP, CHIEF RETAIL BANKING OFFICER 40.00 X 416716 0 18842 DOUGLAS STOVELAND EVP, CHIEF CREDIT OFFICER 40.00 X 404118 0 57206 JOSEPH ANZALONE EVP,CHIEF COMMERCIAL BANKING OFFICER 40.00 X 386106 0 65812 KAMRAN NAQVI SVP, HEAD OF DIGITAL 40.00 X 318588 0 17519 M ANGELES HERNANDEZ SVP, HEAD OF EMERGING RETAIL LENDING PRODUCTS & ST 40.00 X 291686 0 32234 FAWZIA SARWAR-SHAYEK SVP, RETAIL BANKING 40.00 X 290164 0 48802 JOSHUA BLUHM SVP,HEAD OF RETAIL CREDIT RISK & OPS 40.00 X 281269 0 31010 JEANNINE L CREIGHTON-BOETTCHER HEAD OF HR & CORPORATE SERVICES 40.00 X 268051 0 50517 FRANCA LOVELACE HEAD OF ENTERPRISE RISK MANAGEMENT 40.00 X 258983 0 50089 NATALIA LAU SVP, CONTROLLER 40.00 X 257343 0 14393 PAULETTE MEHAS SVP, TREASURY 40.00 X 248541 0 16952 BRENDA JAIMES HEAD OF BUSINESS PROCESS SERVICES 40.00 X 247620 0 41271 FRED D ABAJELO SR. FINANCIAL ADVISOR 40.00 X 521843 0 35202 AZAD RAD SVP, WEALTH MANAGEMENT 40.00 X 284543 0 57397 TERESA WU SVP, COMMERCIAL CREDIT ADMIN 40.00 X 270546 0 31030 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPS 40.00 X 268452 0 44881 DEBORAH KRUMWIEDE SR. FINANCIAL ADVISOR 40.00 X 258740 0 30627 7738214 0 883047 176 0 1 0 SUNLIGHT FINANCIAL LLC 234 W 39TH ST 7TH FLOOR NEW YORK NY 10018 LOAN SERVICING 2020349 HASSO PLATTNER DBA SAN JOSE SHARKS LLC 525 WEST SANTA CLARA STREET SAN JOSE CA 95113 MARKETING 1305810 JOSEPH & COHEN PROFESSIONAL SERVICES 1853 MARKET STREET SAN FRANCISCO CA 94103 LEGAL 1175105 GORDON & REES LLP 100 PRINGLE AVENUE SUITE 300 WALNUT CREEK CA 945963580 LEGAL 695836 KODIAK SOLUTIONS LLC 330 EAST JEFFERSON BLVD SOUTH BEND IN 46601 TECH,INFO AND MEDIA 351502 12 INTEREST ON LOANS 522100 175430906 172010899 3420007 OTHER OPERATING INCOME 522100 8079281 8078810 471 FEE INCOME 522100 4206574 3119537 1087037 187716761 51411973 51411973 OTHER NON-OPERATING IN 522100 322018 322018 322018 239450752 234943237 4507515 0 72770 7738214 36042236 2836731 5465077 3059140 867076 650193 1999038 4354437 6064279 9806895 3510532 329602 125344748 2726731 77633 PROVISION FOR LOAN & LE 22946844 LOAN SERVICING EXPENSE 3522619 MISCELLANEOUS OPERATING 676054 OPERATING FEES 453736 31403 238575988 8210298 6219053 590887498 520123723 24509472 26624236 556824 1229578 59283051 38821458 21771052 20461593 616064532 858242613 3521883119 3291883413 42211463 44067523 4826094258 4768851732 56604928 30554291 4358799565 4318522435 4415404493 4349076726 X 0 0 0 0 410689765 419775006 410689765 419775006 4826094258 4768851732 874764 8210477 0 X X 0 1 X 1 0 67770 67770 67770 1 CALIFORNIA CREDIT UNION LEAGUE PAC 2855 EGUASTI ROAD SUITE 202 ONTARIO CA 91761 940357265 67770 5882284 5882284 12996056 9883869 3112187 12367347 8708905 3658442 24529675 20228684 4300991 3507689 3507689 20461593 ALL OTHER INVESTMENTS 17250000 F NCUA SHARE INSURANCE CAPITALIZATION DEPOSIT 27190229 C LOANS & LEASES 3247443184 F 3291883413 MEMBERS SHARES 3901783073 ACCRUED DIVIDENDS & INTEREST PAYABLE 16739362 BORROWINGS 400000000 4318522435 X 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. X 1 1 X X X X 0 1 0 TODD HARRIS PRESIDENT/CEO, SECRETARY/TREASURER 735681 0 161500 0 36624 0 17250 0 50872 0 1001927 0 0 0 RICHARD HANZ EVP, CHIEF FINANCIAL OFFICER 352839 0 64000 0 12702 0 17250 0 49720 0 496511 0 0 0 SUNDER SRINIVASAN EVP, CHIEF INFORMATION OFFICER 390776 0 93000 0 5988 0 17250 0 50269 0 557283 0 0 0 JEANNINE M JACOBSEN EVP, CHIEF OPERATING OFFICER 369548 0 82500 0 21644 0 17250 0 19402 0 510344 0 0 0 ROBERT REED EVP, CHIEF RETAIL BANKING OFFICER 338962 0 66000 0 11754 0 17250 0 1592 0 435558 0 0 0 DOUGLAS STOVELAND EVP, CHIEF CREDIT OFFICER 310624 0 81500 0 11994 0 17250 0 39956 0 461324 0 0 0 JOSEPH ANZALONE EVP,CHIEF COMMERCIAL BANKING OFFICER 307318 0 65000 0 13788 0 11589 0 54223 0 451918 0 0 0 KAMRAN NAQVI SVP, HEAD OF DIGITAL 288462 0 28000 0 2126 0 15848 0 1671 0 336107 0 0 0 M ANGELES HERNANDEZ SVP, HEAD OF EMERGING RETAIL LENDING 249698 0 36000 0 5988 0 14440 0 17794 0 323920 0 0 0 FAWZIA SARWAR-SHAYEK SVP, RETAIL BANKING 249226 0 30000 0 10938 0 14560 0 34242 0 338966 0 0 0 JOSHUA BLUHM SVP,HEAD OF RETAIL CREDIT RISK & OPS 241800 0 38000 0 1469 0 14106 0 16904 0 312279 0 0 0 JEANNINE L CREIGHTON-BOETTCHER HEAD OF HR & CORPORATE SERVICES 231084 0 32500 0 4467 0 13658 0 36859 0 318568 0 0 0 FRANCA LOVELACE HEAD OF ENTERPRISE RISK MANAGEMENT 225806 0 29000 0 4177 0 13342 0 36747 0 309072 0 0 0 NATALIA LAU SVP, CONTROLLER 218473 0 28000 0 10870 0 12535 0 1858 0 271736 0 0 0 PAULETTE MEHAS SVP, TREASURY 237166 0 6000 0 5375 0 12300 0 4652 0 265493 0 0 0 BRENDA JAIMES HEAD OF BUSINESS PROCESS SERVICES 215011 0 32000 0 609 0 12731 0 28540 0 288891 0 0 0 FRED D ABAJELO SR. FINANCIAL ADVISOR 96906 0 417866 0 7071 0 17250 0 17952 0 557045 0 0 0 AZAD RAD SVP, WEALTH MANAGEMENT 194255 0 35500 0 54788 0 14642 0 42755 0 341940 0 0 0 TERESA WU SVP, COMMERCIAL CREDIT ADMIN 237431 0 28750 0 4365 0 13439 0 17591 0 301576 0 0 0 NIKI WONG SVP, COMMERCIAL/SBA LENDING & OPS 233321 0 29000 0 6131 0 13630 0 31251 0 313333 0 0 0 DEBORAH KRUMWIEDE SR. FINANCIAL ADVISOR 83925 0 170178 0 4637 0 12956 0 17671 0 289367 0 0 0 PART I, LINE 4B THE CREDIT UNION PROVIDES A SPLIT-DOLLAR LIFE INSURANCE BENEFIT TO MEMBERS OF THE EXECUTIVE MANAGEMENT TEAM. UNDER THE AGREEMENT, THE CREDIT UNION MAKES LOANS TO THE EXECUTIVES EQUAL TO THE LIFE INSURANCE POLICY PREMIUMS. THE EXECUTIVES ASSIGN THE INSURANCE POLICIES TO THE CREDIT UNION AS COLLATERAL FOR REPAYING THE PREMIUMS AND BORROW FROM THE POLICY TO SUPPLEMENT RETIREMENT INCOME. THE CREDIT UNION IS REPAID FROM THE POLICIES' DEATH PROCEEDS. INTEREST ACCRUES ON THE LOANS AT THE APPLICABLE FEDERAL RATE AT THE TIME OF FUNDING OF THE RESTRICTED PREMIUM FUNDING ACCOUNT, WHICH IS USED TO PAY FUTURE ANNUAL PREMIUMS ON THE LIFE INSURANCE POLICIES. THE CREDIT UNION RECORDS A LOAN RECEIVABLE AT THE LESSER OF THE CASH SURRENDER VALUE OF THE POLICIES OR THE LOAN AMOUNT PLUS ACCRUED INTEREST. AS OF DECEMBER 31, 2024 AND 2023, THE BALANCE OF THE LOAN TO THE EXECUTIVE UNDER THIS ARRANGEMENT, NET OF APPLICABLE ALLOWANCES, WAS APPROXIMATELY $20,746,000 AND $20,556,000,RESPECTIVELY. JOSEPH ANZALONE OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 6037500 6266959 0 1 1 RICHARD HANZ OFFICER 1ST MORTGAGE X 515000 325413 0 1 1 FRANCA LOVELACE KEY EMPLOYEE 1ST MORTGAGE X 550000 263602 0 1 1 TODD HARRIS OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 7297574 7592042 0 1 1 FAWZIA SARWAR-SHAYEK KEY EMPLOYEE USED AUTO INDIRECT X 34770 13891 0 1 1 RICHARD HANZ OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 3726000 3867609 0 1 1 JEANNINE JACOBSEN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 2469894 2576061 0 1 1 ROBERT REED OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 3411860 3541530 0 1 1 JOSEPH ANZALONE OFFICER 1ST MORTGAGE X 935000 929735 0 1 1 JEANNINE JACOBSEN OFFICER 1ST MORTGAGE X 700000 697975 0 1 1 SUNDER SRINIVASAN OFFICER FUND PURCHASE OF CASH VALUE LIFE INSURANCE POLICY X 542470 549419 0 1 1 26624236 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 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. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NOT CHANGED EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR. TECH CAPITAL LLC 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 473267903 FINANCIAL SERVICES CA 4334563 30232052 TECHNOLOGY CREDIT UNION TECH SMART FINANCE LLC 2010 NORTH FIRST STREET SUITE 301 SAN JOSE CA 95131 824781548 FINANCIAL SERVICES CA 0 0 TECHNOLOGY CREDIT UNION