In April of 1960, a group of employees at Fairchild Camera and Instrument Semiconductor Division in Mountain View assembled in the cafeteria and decided to form a credit union. By the end of that year, they had 600 members holding $65,000.
The Credit Union became more financially sound and continued to grow. By 1970, membership was up to 6,320 with $3.5 million in assets. In order to accommodate the increasing membership, two more branch offices opened.
The 1980s were pivotal to the Credit Union’s development. It was a decade of huge growth in the technology arena, and the company worked hard to keep up with this expansion. In 1983, the Credit Union changed its name to Technology Federal, and expanded its membership reach to embrace other high tech firms in the area.
Tech CU is now among the top 1.5% of the nation’s largest credit unions with ten full service branches in the Bay Area. With more than $1.7 billion in assets and growing, Tech CU is a leader in Silicon Valley.
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