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 |
|---|---|
| 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 |
|---|---|
| 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 |
|---|---|
| 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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