San Jose, CA (December 5, 2008)—For Technology Credit Union (Tech CU), 2008 has been the ‘year of green.’ In the last 12 months, the credit union has effectively implemented several initiatives aimed at decreasing its carbon footprint and positively impacting the company’s bottom line. Most recently, Tech CU’s headquarters’ office building, located in San Jose, California, became certified as a Santa Clara County Green Business. To receive this certification, Tech CU has implemented a variety of measures to save energy, water and other materials and reduce waste in its facilities. The credit union has also pledged to continue its ongoing efforts to prevent pollution and conserve resources as well as educate its employees and members about resource conservation.
“People have a lot on their mind these days with the weak economy, but we can’t forget that we’re also facing serious environmental challenges,” said Ken Burns, President/CEO for Tech CU. “Even in the face of economic hardship, we all have to remain mindful that our planet’s resources are limited and stay focused on our conservation efforts.”
Santa Clara County’s Green Business Program is a partnership of environmental agencies and utilities that assist recognize and promote businesses and government agencies that volunteer to operate in a more environmentally responsible way. To be certified ‘green,’ participants must be in compliance with all regulations and meet program standards for conserving resources, preventing pollution and minimizing waste. More than 725 businesses and public agencies have been certified since 1996 Bay Area—wide and Tech CU is among the 115 of those that are certified in Santa Clara County.
In addition to achieving the Green Business certification, Tech CU has implemented several other successful green marketing initiatives during the year. In August, Tech CU launched its Fuel Smart auto loan that offers a significant discount off the rate of a new or used car loan if the purchase is a hybrid vehicle or a vehicle getting 30 MPG highway.
The credit union also ran a campaign using a splash page in online banking to aggressively switch their members from traditional mailed paper statements to e-statements. The campaign was extremely successful, with nearly 9,000 members opting in to receive an e-statement during a period of about one month—a 25 percent increase. Currently, 65 percent of all Tech CU’s online banking users have opted in for e-statements. The effort to switch members to online statements will not only save the credit union a significant amount of expense in paper and printing costs, but will have an additional positive impact in terms of saving trees and reducing members’ risk of identity theft resulting from stolen mail.
Tech CU is also leading the way in instituting greener banking practices through new product and service launches including wireless/mobile banking, remote deposit (in-bank) and paperless documentation for mortgage loans. The credit union’s remote deposit and paperless documentation processes significantly cut down on paper, fuel and energy waste due to storage and transportation.
“Being a socially responsible corporate citizen is important to us,” said Burns, “but these practices are also smart business policies because they reduce costs and that helps our bottom line.”
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 more than 77,000 members, nearly $1.2 billion in assets and 10 full-service branches around the Bay Area, Tech CU is a leader in the credit union industry.
ABOUT THE BAY AREA GREEN BUSINESS PROGRAMThe Bay Area Green Business Program verifies that businesses meet higher standards of environmental performance. Their partnership of government agencies and utilities helps local businesses comply with all environmental regulations and take actions to conserve resources, prevent pollution, and minimize waste.
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