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  • Pressroom

    Welcome to our Pressroom. You'll find media resources and the latest updates on what's happening. 

    Press Releases

  • CUNA Awards Celebrate Tech CU’s Efforts to Teach Financial Education and Contribute to the Community  

    San Jose, Calif– August 10, 2017 – Tech CU (Technology Credit Union) today announced that it has won two CUNA awards: second place for the Desjardins Adult Financial Education award and an honorable mention for the Dora Maxwell Social Responsibility Community Service award.  

     


    San Jose (July 12, 2017) — Tech Capital, LLC, the asset-based finance company and wholly-owned subsidiary of Tech CU, today announced that it has originated a $2 million asset-based loan for Gemini Duplication, Inc. The company provides statewide legal document evidence retrieval for California attorneys seeking to expedite benefits in workers’ compensation claims.


    San Jose –June 15, 2017 — Tech CU (Technology Credit Union) announced today it was selected as a Top 100 Bay Area Corporate Philanthropist by the San Francisco Business Times. The credit union also won two bronze Stevie Awards for Financial Services Marketing Campaign of the Year and Annual Report, and a silver MAC Award for Best Annual Report from the Marketing Association for Credit Unions (MAC). 


     30-Year Industry Veteran Tapped to Ensure the Continued Safety and Soundness of Tech CU’s Loan Portfolio 

    San Jose – May 24, 2017 — Tech CU (Technology Credit Union) announced today that Mike Floyd has joined the company as its new Chief Credit Officer and Executive Vice President. An industry veteran, Floyd is responsible for overseeing Tech CU’s lending activities and mitigating risk to its loan portfolio. 


    First “Ground Up” Construction Project in San Francisco Broadens Tech CU’s Market Presence. 

    San Jose – May 15, 2017 — Tech CU (Technology Credit Union) announced today that it is providing an $8.5 million construction loan for Presidio Bay Ventures, LLC. The loan will fund the development of a 20-unit, multifamily project in San Francisco’s Dogpatch neighborhood.


    COO and EVP Jeannine Jacobsen Named a Silicon Valley Business Journal 2017 Woman of Influence; Tech CU also a Winner of the Hermes Creative Awards, AVA Digital Awards and a Credit Union Journal 

    San Jose – May 1, 2017 — Tech CU (Technology Credit Union) today announced four significant award wins for the company. COO and EVP Jeannine Jacobsen was named a 2017 Woman of Influence by the Silicon Valley Business Journal. Tech CU won two Hermes Creative Awards — a Gold award for the company’s website redesign and an Honorable Mention for the 2015 Annual Report. Additionally, Tech CU received two awards honoring its website redesign: a Gold award from the AVA Digital Awards and a Best Practices award from the Credit Union Journal.   


    LOAN WILL HELP PROVIDE HOUSING FOR LOW-INCOME AND HOMELESS POPULATION IN SAN JOSE, CA. 

    San Jose – March 22, 2017 — Tech CU (Technology Credit Union) announced today that it is participating in a $27.4 million construction loan originated and led by Silicon Valley Bank (SVB). This loan will provide funding for First Community Housing to build a new 135-unit affordable housing project in San Jose called Second Street Studios.  Tech CU’s participation will total $8 million.


    San Jose – March 13, 2017 — Tech CU (Technology Credit Union) announced today that Chief Operating Officer and Executive Vice President Jeannine Jacobsen has won the YWCA Tribute to Women Award. 


    San Jose (February 15, 2017) — Today, Tech CU (Technology Credit Union) announced that its Executive Vice President and Chief Commercial Banking Officer, Joe Anzalone, has joined the Housing Trust Board of Directors. Founded in 1998, the Housing Trust’s mission is make Silicon Valley a more affordable place to live by supplying loans and grants to increase the supply of affordable housing, assist first-time homebuyers, prevent homelessness and stabilize neighborhoods.


    LOANS WILL SUPPORT THE ACQUISITION OF A SAN JOSE OFFICE BUILDING (DOLLINGER PROPERTIES) AND FACILITIES PROVIDING COMPLEX CARE TO MEDICALLY FRAGILE CHILDREN (INNOVATIONS HEALTH)

    San Jose – January 31, 2017 — Tech CU (Technology Credit Union) announced today that it has provided a $7 million commercial real estate loan to Dollinger Properties to support the acquisition of a 50,951-square foot R&D/office property in North San Jose. The credit union also provided a Small Business Administration (SBA) 7(a) loan to Innovations Health to purchase three Bay Area pediatric facilities serving catastrophically injured and severely disabled children.

     


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    In The News

  • Listen to an interview which aired on radio station KLIV featuring CEO Todd Harris, San Jose Mayor Sam Liccardo and Carl Guardino, head of the Silicon Valley Leadership Group.


    Founded in 1960, Tech CU is a $2.4 Billion credit union providing wealth management, banking and lending services for the Technology Ecosystem. In 2015, they became the first credit union in the U.S. to offer asset based lending for commercial loans.


    The Fed shouldn’t raise rates again too soon.

    The S&P 500 and NASDAQ hit record highs the week of May 8, and the Dow closed over 21,000. The “Trump Bump” (as the run up in capital markets is called) remains in full force. In all, I believe the business environment will be more favorable under the Trump administration.


    Let's allow inflation to prove it's a problem before raising rates.

    The stock markets continue to hit record highs this year, as the “Trump bump” remains in full force. The capital markets share my view that the business environment will be more favorable under a Trump administration, but the run-up is premature because we still lack specifics on many aspects of the new administration’s fiscal policy. 


    The fast growing residential solar financing provider expands an existing partnership; will fund loans for 20,000 homeowners

    TEANECK, N.J. & CHARLOTTE, N.C.--()--Sunlight Financial, a leading provider of financing for residential solar systems, and Tech CU (Technology Credit Union), a credit union based in Silicon Valley, today announced the expansion of their partnership and residential solar loan program. Tech CU will commit up to $500 million for about 20,000 more loans originated by Sunlight’s national network of installers.


    The Fed has all but promised to increase rates at the March meeting, and if it does, there will likely be adverse repercussions. The Yellen Fed is on the precipice of making the same mistake the Greenspan Fed did when it tried to control capital market prices by increasing rates. Greenspan had the dot-com bubble of the ’90s that he wanted to address. Remember when eyeballs on websites were more important than corporate earnings, and companies changed their name to whatever.com just so they could raise capital? Today, we have the Trump stock rally.


     An interest rate hike by the Federal Reserve is on the mind of just about everyone working in financial services (and consumers as well). People want to know when, how much and how many.


    Will the Federal Open Market Committee raise interest rates when it convenes in December? Todd Harris, president/CEO of $2 billion asset Technology Credit Union in San Jose, Calif., believes it will.


    Janikke Klem is one of those people who is adept at just figuring things out. She accepted the position as vice president of community and government relations at the $2.1 billion, San Jose, Calif.-based Technology Credit Union when she was pregnant with her now two-and-a-half-year-old twins. She said she wanted to work with then CEO Barbara Kamm and the opportunity was one she just couldn't pass up. So, she took the position and did what she always does: She figured it out. 


    Blockchain technology is quickly emerging as a way for companies to make and verify transactions almost instantaneously — without a central authority. For financial institutions, blockchain technology promises to cut costs and lower risk of fraud by providing a secure way to digitally track asset ownership. It’s also the technology behind bitcoin.


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