Technology Credit Union FY2022 filing

Not tax-deductible

San Jose, CAMutual-benefit / member-servingSince 1960Mutual / membership EIN 94-1651781Revenue $196.3M in FY2022Latest return filed Nov 6, 2025

On file with the IRStechcu.com2010 N 1st St Ste 100, 95131-2025 · San Jose, CATax-exempt since Sep 1961

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

$6.2M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $38.2M a year · 19% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$6.2M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Plus $4.31B in investments, Pt X · Ln 11–13
Looks good: 12.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$4.2B
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$196.3M
+13% vs prior year
Spent
$137.6M
Net assets
$389.9M
By yearFY2020–FY2024
Revenue
$196.3M
FY2022▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$137.2M
FY2021$173.2M
FY2022$196.3M
FY2023$235.3M
FY2024$239.5M
Expenses
$137.6M
FY2022▲ +46%
Tap a bar for its year
Expenses by fiscal year
FY2020$100.8M
FY2021$94.4M
FY2022$137.6M
FY2023$218.8M
FY2024$238.6M
Net assets
$389.9M
FY2022▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$366.6M
FY2021$427.2M
FY2022$389.9M
FY2023$410.7M
FY2024$419.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1961.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

32 people listed on the 990; $6.2M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO, Secretary/Treasurer
$935,585Pt VII · Sec A
EVP, Chief Operating Officer
$502,292Pt VII · Sec A
EVP, Chief Financial Officer
$458,815Pt VII · Sec A
EVP, Chief Retail Banking Officer
$454,165Pt VII · Sec A
EVP, Chief Commercial Banking Officer
$422,062Pt VII · Sec A
EVP, Chief Credit Officer
$344,455Pt VII · Sec A
SR. Financial Advisor
$318,452Pt VII · Sec A
SVP, Retail Banking
$317,208Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Todd Harris$933,805$1,014,556$935,585$937,558$907,029
Fred D Abajelo$521,843$553,340$318,452——
Jeannine M Jacobsen$473,692$506,317$502,292$480,440$458,538
Sunder Srinivasan$489,764$459,926$207,535——
Richard Hanz$429,541$471,211$458,815$436,253$414,213
Robert Reed$416,716$454,011$454,165$437,523$423,889
Joseph Anzalone$386,106$421,947$422,062$414,326$400,612
Hermelinda Negrete———$416,374$405,058

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes
  • Loans to or from officersSch L · Pt II9 listed

Programs and updates

Encourages members to save money and practice thrift.

Questions for Technology Credit Union

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Your first name shows with your question. Technology Credit Union answers here, for everyone.

3 programs · in their own filed words · FY2022
01

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…

Pt IX · col B
02

During 2022 technology credit union had 168,305 members with 433 member companies. To enhance members' easy access anywhere and anytime at no cost to the members, tech cu provides online banking services.

Pt IX · col B
03

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.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $38K · 2020–2020

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$196.3M
Ln 12
Fees for servicesLn 2g$163.7M
Investment incomeLn 3$27.9M
Other incomeLn 4–11$4.7M
Money outPt IX
$137.6M
Ln 25
Owns and owesPt X
$389.9M
net assets · Ln 32
Cash and savingsLn 1–2$139.1M
Total assetsLn 16$4.5B
LiabilitiesLn 26$4.2B
PeoplePt VI, VII
32
listed · VII A
PaidVII A19
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$163.7M
Investment incomeLn 3$27.9M
Other incomeLn 4–11$4.7M
Gains on assetsLn 7$9.6M
Total revenueLn 12$196.3M
Assets in detailPt X, end of year
CashLn 1$14.1M
SavingsLn 2$125.0M
Cash and savings togetherLn 1–2$139.1M
InvestmentsLn 11–13$4.31B
Land, buildings, equipmentLn 10c$21.0M
Other assetsLn 15$49.4M
Total assetsLn 16$4.5B
LiabilitiesLn 26$4.2B
Net assetsLn 32$389.9M
OperationsPt I, VI
EmployeesI 5351
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$300.0M$139.1M
InvestmentsLn 11–13$3.78B$4.31B
Land, buildings, equipmentLn 10c$20.8M$21.0M
Total assetsLn 16$4.12B$4.54B
LiabilitiesLn 26$3.70B$4.15B
Net assetsLn 32$427.2M$389.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$43K
Pay of current officers, directors and key staffLn 5$6.2M
Other salaries and wagesLn 7$32.2M
Pension plan contributionsLn 8$1.9M
Other employee benefitsLn 9$4.0M
Payroll taxesLn 10$2.6M
Legal feesLn 11b$596K
Accounting feesLn 11c$422K
Other fees for servicesLn 11g$7.1M
Advertising and promotionLn 12$4.2M
Office expensesLn 13$2.1M
Information technologyLn 14$8.4M
OccupancyLn 16$3.3M
TravelLn 17$378K
InterestLn 20$37.0M
Depreciation, depletion and amortizationLn 22$2.9M
InsuranceLn 23$130K
Other expenses (24a–d)Ln 24$24.1M
All other expensesLn 24e$14K
Total functional expensesLn 25$137.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 LatestFiled with the IRS Nov 6, 2025 $239.5M$238.6M$875K$419.8M 990 PDF
FY2023Filed with the IRS Oct 22, 2024 $235.3M$218.8M$16.5M$410.7M 990 PDF
FY2022 ViewingFiled with the IRS Nov 13, 2023 $196.3M$137.6M$58.7M$389.9M 990 PDF
FY2021Filed with the IRS Oct 27, 2022 $173.2M$94.4M$78.8M$427.2M 990 PDF
FY2020Filed with the IRS Nov 9, 2021 $137.2M$100.8M$36.4M$366.6M 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $196,279,690 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $163,317,097$163,656,583
I-10 Investment incomePrior year $9,569,241$27,917,177
I-11 Other revenuePrior year $322,792$4,705,930
I-12 Total revenuePrior year $173,209,130$196,279,690
I-13 Grants and similar amounts paidPrior year $28,882$43,467
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $40,920,300$46,920,995
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $53,475,478$90,604,418
I-18 Total expensesPrior year $94,424,660$137,568,880
I-19 Revenue less expensesPrior year $78,784,470$58,710,810
Part VI · Governance 10 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members10
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $196,279,690 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $159,726,694 · Unrelated business $3,929,889$163,656,583
VIII-3 Investment incomeRelated to mission $18,340,546$18,340,546
VIII-7 Net gain or loss on sales of assetsRelated to mission $9,576,631$9,576,631
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,705,930$4,705,930
VIII-12 Total revenueRelated to mission $192,349,801 · Unrelated business $3,929,889 · Excluded from tax $0$196,279,690
Part IX · Statement of functional expenses $137,568,880 across 19 lines filed
IX-1 Grants to domestic organizations$43,467
IX-5 Pay of current officers, directors and key staff$6,191,882
IX-7 Other salaries and wages$32,152,542
IX-8 Pension plan contributions$1,936,475
IX-9 Other employee benefits$4,034,253
IX-10 Payroll taxes$2,605,843
IX-11b Legal fees$596,022
IX-11c Accounting fees$422,068
IX-11g Other fees for services$7,053,029
IX-12 Advertising and promotion$4,228,635
IX-13 Office expenses$2,088,852
IX-14 Information technology$8,361,892
IX-16 Occupancy$3,281,076
IX-17 Travel$378,500
IX-20 Interest$36,983,373
IX-22 Depreciation, depletion and amortization$2,939,672
IX-23 Insurance$130,074
IX-24 Other expenses (24a–d)$24,127,553
IX-24e All other expenses$13,672
IX-25 Total functional expenses$137,568,880
Part X · Balance sheet $4,544,569,780 assets, 13 lines filed
Asset lines not itemized here account for $24,303,856; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $10,330,357$14,093,862
X-2 Savings and temporary cash investmentsStart of year $289,646,581$124,967,429
X-9 Prepaid expenses and deferred chargesStart of year $126,232$513,384
X-10c Land, buildings and equipment, netStart of year $20,838,887$21,043,640
X-11 Publicly traded securitiesStart of year $836,469,830$683,102,818
X-13 Program-related investmentsStart of year $2,947,179,834$3,627,119,857
X-15 Other assetsStart of year $16,499,063$49,424,934
X-16 Total assetsStart of year $4,123,158,923$4,544,569,780
X-17 Accounts payable and accrued expensesStart of year $25,438,266$41,608,275
X-25 Other liabilitiesStart of year $3,670,481,590$4,113,069,412
X-26 Total liabilitiesStart of year $3,695,919,856$4,154,677,687
X-32 Total net assets or fund balancesStart of year $427,239,067$389,892,093
X-33 Total liabilities and net assetsStart of year $4,123,158,923$4,544,569,780
Part XI · Reconciliation of net assets $389,892,093 net assets at year end
XI-1 Total revenue$196,279,690
XI-2 Total expenses$137,568,880
XI-3 Revenue less expenses$58,710,810
XI-4 Net assets at start of year$427,239,067
XI-5 Net unrealized gains (losses) on investments−$96,057,784
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$389,892,093

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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