Dec, 31, 2023 — FIRST TECH FEDERAL CREDIT UNION is a federal credit union headquartered in SAN JOSE, CA with 36 branch locations and about $16.85 billion in total assets. Opened 54 years ago in 1970, FIRST TECH FEDERAL CREDIT UNION has about 665,948 members and employs 1,666 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
Name: | FIRST TECH FEDERAL CREDIT UNION |
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Address: (Main Office) | 2702 Orchard Pkwy SAN JOSE, CA 95134-2012 |
Phone: | (855) 855-8805 |
Fax: | |
Website: | https://www.firsttechfed.com |
Branches: | 36 branch locations |
Members: | 665,948 |
Credit Union Type: | Federal Credit Union |
Charter Number: | 19976 |
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Membership Type: | Multiple common bond - Primarily other manufacturing |
Corporate Credit Union: | No |
Year Opened: | 1970 |
Last Audited: | Dec 01, 2022 |
FHLB Member: | Yes |
Low Income Designation: | No |
Assets: | $16,848,519,997 |
CEO/Manager: | Greg Mitchell |
Chairperson: | Jeff Hank |
ASSETS: | $ Amount |
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Cash & Equivalents | 794,562,921 |
TOTAL INVESTMENTS | 0 |
Loans Held for Sale | 8,220,828 |
Real Estate Loans | 7,787,231,205 |
Unsecured Loans | 2,390,582,167 |
Other Loans | 1,791,673,552 |
TOTAL LOANS | 11,969,486,924 |
(Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -131,534,744 |
Land And Building | 61,782,945 |
Other Fixed Assets | 52,246,819 |
NCUSIF Deposit | 98,637,753 |
All Other Assets | 6,310,830 |
TOTAL ASSETS | 16,848,519,997 |
LIABILITIES & CAPITAL: | |
Dividends Payable | 3,395 |
Notes & Interest Payable | 3,114,000,000 |
Accounts Payable & Other Liabilities | 174,702,072 |
Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
Share Drafts | 3,125,329,931 |
Regular shares | 2,137,452,659 |
All Other Shares & Deposits | 6,927,429,288 |
TOTAL SHARES & DEPOSITS | 12,190,211,878 |
TOTAL LIABILITIES | 15,483,413,293 |
Regular Reserve | 0 |
Other Reserves | -25,921,464 |
Undivided Earnings | 1,391,028,168 |
TOTAL EQUITY | 1,365,106,704 |
TOTAL LIABILITIES, SHARES, & EQUITY | 16,848,519,997 |
INCOME & EXPENSE | |
Loan Income | 575,894,581 |
Investment Income | 151,322,086 |
Other Income | 18,333,942 |
Total Employee Compensation & Benefits | 214,216,808 |
NCUSIF Premiums Expense | 0 |
Total Other Operating Expenses | 170,688,959 |
Non-operating Income & (Expense) | 8,715,591 |
NCUSIF Stabilization Income | N/A |
Provision for Loan/Lease Losses or Total Credit Loss Expense | 107,658,589 |
Cost of Funds | 333,828,824 |
NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
Net Income (Loss) | 41,025,887 |
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» See also Statement of Financial Condition