MOUNTAIN VIEW, Calif. – First Tech FCU reported a 51% increase in net income for 2012 to $62.8 million, giving the $5.6-billion credit union for Silicon Valley workers a 1.15% return-on-assets.

Assets rose 9.3% and loans grew by 15.6% to $3.3 billion in 2012. Net worth at the end of 2012 was 9.6%.

First Tech FCU serves many of Silicon Valley’s biggest tech companies, including HP, Microsoft, Agilent, Intel, CISCO, Amazon, Nike, CH2M Hill, Intuit and Google.

 

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.