WASHINGTON – Credit unions will spend between $650 million and $800 million on technology in 2004, the third-highest expenditure for CUs behind salaries and office operations, according to Callahan & Associates. Callahan is basing that estimate on replies from 85 credit unions that responded to a recent survey. Those credit unions hold about $68 billion in assets, about 10% of the domestic credit union industry, the research and advisory firm says. The median asset size of the 85 respondents was $325 million while the average asset size was $800 million. Callahan says the size of the CU did not seem to be a factor in the proportion of a credit union's spending that goes to technology, generally between 12% and 14%. Included in that figure are software, hardware, consulting, security and communications, but not salaries and depreciation. The company says complete details of the report are included in its annual tech directory, Callahan's 2004 Technology Survey.