Dec, 31, 2022 — FIRST TECH FEDERAL CREDIT UNION is a federal credit union headquartered in SAN JOSE, CA with 36 branch locations and about $16.42 billion in total assets. Opened 53 years ago in 1970, FIRST TECH FEDERAL CREDIT UNION has about 646,500 members and employs 1,688 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 |
|---|---|
| Address: (Main Office) | 2702 Orchard Pkwy SAN JOSE, CA 95134-2012 |
| Phone: | (855) 855-8805 |
| Fax: | |
| Website: | www.firsttechfed.com |
| Branches: | 36 branch locations |
| Members: | 646,500 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 19976 |
|---|---|
| Membership Type: | Multiple common bond - Primarily other manufacturing |
| Corporate Credit Union: | No |
| Year Opened: | 1970 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $16,416,196,372 |
| CEO/Manager: | Greg Mitchell |
| Chairperson: | Jeff Hank |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 66,957,025 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 7,464,855 |
| Real Estate Loans | 7,181,896,079 |
| Unsecured Loans | 2,333,744,523 |
| Other Loans | 2,214,588,881 |
| TOTAL LOANS | 11,730,229,483 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -81,755,667 |
| Land And Building | 65,318,976 |
| Other Fixed Assets | 56,456,561 |
| NCUSIF Deposit | 99,022,013 |
| All Other Assets | 3,847,101 |
| TOTAL ASSETS | 16,416,196,372 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 500 |
| Notes & Interest Payable | 3,737,100,000 |
| Accounts Payable & Other Liabilities | 138,670,240 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 3,682,048,589 |
| Regular shares | 2,087,979,149 |
| All Other Shares & Deposits | 5,529,005,260 |
| TOTAL SHARES & DEPOSITS | 11,299,032,998 |
| TOTAL LIABILITIES | 15,174,803,738 |
| Regular Reserve | 0 |
| Other Reserves | -109,459,464 |
| Undivided Earnings | 1,350,852,098 |
| TOTAL EQUITY | 1,241,392,634 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 16,416,196,372 |
| INCOME & EXPENSE | |
| Loan Income | 303,836,398 |
| Investment Income | 80,293,649 |
| Other Income | 13,145,955 |
| Total Employee Compensation & Benefits | 151,425,638 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 124,331,595 |
| Non-operating Income & (Expense) | 52,052 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 35,839,557 |
| Cost of Funds | 67,770,934 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 25,826,242 |
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