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A YEAR IN REVIEW

2022 Year in Review

Through the engagement and support of more than 649,000 active members, along with our volunteer board and the nearly 1,700 employees who are privileged to serve you, First Tech continues to lead the way in member service, innovation, financial performance and community impact.

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Couple posing for a photo outdoors, in front of some greenery.

Couple posing for a photo outdoors, in front of some greenery.

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A few notable achievements in 2022:

Originated $5.0 billion in new consumer loans to help members build stronger financial futures.

Increased assets by 11.9% reaching $16.7 billion in total assets as the 9th largest credit union in the country.

Generated $95 million** in core income while providing material economic relief for impacted members, solid investments in infrastructure and strong reserves to cover long-term impacts of the pandemic.

Increased regulatory capital to more than $1.62 billion resulting in a $453.6 million surplus to protect our members and fuel future growth.

Recorded solid improvement in member sentiment and satisfaction scores while earning national recognition for member service and our improved mobile banking solutions.

Retained our ranking as the largest credit union investment program in the United States through Addison Avenue Investment Services.

Protected nearly 16,000 member households through our independent insurance agency.

Expanded remote banking options and improved fraud prevention measures to strengthen members’ security and account access during the pandemic.

Contributed more than $4 million to support 128 nonprofit organizations.

Originated more than 8,000 mortgage loans while navigating members through a challenging housing market and rate environment.

**Core net income represents new income from operations and is defined as net income of $59 million adjusted for realized and unrealized net market value loss in NCUA-permissible equity investments of $35 million.

Image showing First Tech's approach to funding. The image shows three states on the left; Washington, Oregon and California. in the top right is a box with text that says, "Over $4 million donated," Washington | $582,231, Oregon | $1,739,892, California | $879,533, Other Geographies | $814,103

Our approach to funding

In 2022, First Tech provided over $4 million in charitable giving to 128 organizations, and more than 80% of employees participated in community engagement, directing dollars and time to nonprofit partners, ensuring that children have the tools they need to learn, be healthy, and succeed.

Credit Union for Kids

For more than 35 years, First Tech has led the way in fundraising efforts for Credit Unions for Kids (CU4Kids), which benefits Children’s Miracle Network Hospitals (CMN) across our footprint. Supporting the youngest members of our community has always been a top priority for First Tech. In 2022, First Tech employees and members, business leaders and credit unions from across the region raised more than $1.6 million dollars as part of the annual Credit Unions for Kids fundraising campaign.

Banner image displaying Credit Union For Kids logo to the left and its affiliated partners to the right, including; OHSU Doernbecher Children's Hospital, UC Davis Children's Hospital, UCSF Benioff Children's Hospital (Oakland | San Francisco), Children's Hospital Colorado, Seattle Children's (Hospital/Research/Foundation), and PeaceHealth Sacred Heart Medical Center.

A people first approach to sustainability at First Tech

Being mindful about our environmental impact is a core value at First Tech. We don’t just give lip service to making our work environment better and more sustainable—we demonstrate our commitment with thoughtful action.

Banner image showing how First Tech reduces its waste, energy consumption, and energy and environmental savings recognitions.

First Tech and Centro Cultural team up to tackle hunger with Community Garden

When a few First Tech employees had an idea in 2021 to plant a garden and share it with the public, they didn’t realize the long-term impact they would be making to relieve hunger in their community. In the fall of 2021, First Tech broke ground on our Community Garden in a plot on our Hillsboro, Oregon corporate campus. Many employees rolled up their sleeves and began planting the first seeds that would eventually become a bounty of fresh produce for our neighbors in Washington County.

First Tech family comes together for Pride Month celebration

In 2022, First Tech employees teamed up to celebrate our LGBTQIAP+ family through a range of educational and social events, donations, volunteer opportunities and more. The variety of Pride events and social occasions highlighted the diversity of First Tech’s family, and the important work being done to improve our communities.

First Tech employees showing their support for the LGBTQIAP+ family, posing outside on green grass and under a tree.

Strong risk management practices aid First Tech’s stability and growth

As a financial institution, there’s no such thing as being risk proof. First Tech navigates both internal and external risks every day. Cary Oswald, First Tech’s Senior Director of Risk Management, and his team of analysts are responsible for tracking and analyzing First Tech’s risk profile. Oswald and his team have established a methodology and a system of reporting that guides First Tech’s risk appetite, playing a large part in keeping First Tech strong and secure.

A message from President and CEO, Greg Mitchell: Looking ahead to 2023

In 2023, we will continue to deliver the product and service experiences that our members have come to expect and appreciate from us, placing our members at the center of all that we do. We remain confident in the long-term future of First Tech that through safe and sound business practices, and our indomitable spirit, we will continue to shine and grow stronger than ever on our journey to become America’s most admired credit union. We are grateful to have you as part of our family. The best is yet to come!