Tech CU Partners with SunPower to Provide $1
Billion in Solar Financing
The New Four-Year Commitment Continues Tech CU’s Momentum in Funding
Green Energy
San Jose, Calif. – May 5, 2020 – Tech CU (Technology
Credit Union) announced today it will provide $1 billion in financing for residential solar loans via a partnership with SunPower, a sustainable energy company that provides
customers with complete solar solutions and services.
“We have enjoyed
unprecedented success as one of the first lenders to partner with third party
finance providers in this space, and are thrilled to add SunPower, a premium solar equipment manufacturer and solution provider, to our growing list of solar funding partners,”
said Todd Harris, CEO of Tech CU. “The combination of solar energy solutions
coupled with finance solutions from providers like SunPower have made a huge
difference in terms of making financing and acquiring solar loan systems easier
and more mainstream. As a leader in solar financing, we are committed to
continuing our support to finance solution providers in the solar and green
energy space, and we are working on additional projects that will help us
expand our loan capacity even more in the future.”
“Through
our new partnership with Tech CU, we’re broadening our reach, as well as
providing streamlined, efficient financing,” said Norm Taffe, executive vice
president of North American Channels. “This is consistent with SunPower’s
efforts to constantly bring the best solar products, solutions and services to
our customers.”
About Tech CU
Tech CU (Technology Credit Union)
has assets in excess of $3 billion, making it one of the 20 largest credit
unions in California. It serves more than 125,000 members living and working
throughout the counties of Santa Clara, San Mateo, Alameda, Contra Costa, Santa
Cruz, San Francisco, Sacramento, San Joaquin, Solano, Marin, Napa, Sonoma, Los Angeles, Orange and San Diego. As a federally insured
not-for-profit organization, Tech CU invests its resources to deliver lower
rates, outstanding service and member benefits. Founded in 1960 by the
innovative employees of Fairchild Semiconductor, today Tech CU continues to
leverage technology to provide convenient and easy-to-use financial products
for all stages of their members’ lives, including personal banking, wealth
management, private banking, commercial lending and business banking. In 2019,
Tech CU was named the best-performing credit union in CA, and third best-performing
credit union in the U.S. for the second year in a row, among the 552 credit
unions with assets over $500 million evaluated by S&P Global Market
Intelligence. To learn more, please visit: www.techcu.com.
About SunPower
As one of the world's most
innovative and sustainable energy companies, SunPower (NASDAQ: SPWR) provides a
diverse group of customers with complete solar solutions and services.
Residential customers, businesses, governments, schools and utilities around
the globe rely on SunPower's more than 30 years of proven experience. From the
first flip of the switch, SunPower delivers maximum value and superb
performance throughout the long life of every solar system. Headquartered in
Silicon Valley, SunPower has dedicated, customer-focused employees
in Africa, Asia, Australia, Europe, and North
and South America. For more information about how SunPower is changing the
way our world is powered, visit www.sunpower.com.
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Contact:
Linden Kohtz
Public Relations, Tech CU
[email protected]