San Jose, CA (February 11, 2008)—Tech CU has announced that Facebook, one of the most popular and fast-growing social networking companies in the market today, has chosen Silicon Valley-based Tech CU to be the official credit union for Facebook’s expanding workforce.
“Facebook is a community-driven network, and so it makes sense that they would partner with a credit union for their employees,” said Donna Butcher, Assistant Vice-President of Business Development for Tech CU. “Credit unions are unique in that they are built on the foundation of community—they’re member owned and managed. That positions us well to partner with companies that have employees and customers who place a lot of importance on the value of peer-to-peer networks.”
Tech CU has a rich and long-standing history of serving Silicon Valley startups, boasting some of the Valley’s most innovative organizations as member companies. In fact, Tech CU started out in 1960 as the credit union for the employees of Fairchild Semiconductor and has continued to partner with leading technology companies, serving their financial needs and those of their employees, for more than four decades. Today, Tech CU’s large high tech employer member groups include, Cisco Systems, Sun Microsystems and Applied Materials, as well as smaller companies such as M2 Medical and Fanfare Software Inc., a company for which Tech CU also manages the company’s HSA employee accounts.
“To some degree, we’re known primarily as the credit union for tech professionals in the Silicon Valley,” said Kathleen Litman, Vice President of Marketing for Tech CU, “but the truth is we’re now open to everyone in a six county area, not just technology employees. Those six counties are Santa Clara, San Mateo, Santa Cruz, San Francisco, Contra Costa and Alameda. So, the benefits of membership are now widely available”. ABOUT TECHNOLOGY CREDIT UNIONTechnology Credit Union is a full-service, financial institution serving individuals who work, live, go to school or regularly worship in Santa Clara, Alameda, Contra Costa, Santa Cruz, San Mateo and San Francisco counties. Tech CU was started in 1960 and is now among the top 1 percent of the nation’s largest credit unions. With over $1.3 billion in assets and ten full-service branches around the Bay Area, Tech CU is a leader in the credit union industry.
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