Tech CU Partners with SunPower to Provide $1 Billion in Solar Financing

5/5, 5:03 PM (Source: GlobeNewswire)

SAN JOSE, Calif., May 05, 2020 (GLOBE NEWSWIRE) -- 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.

Contact:
Linden Kohtz
Public Relations, Tech CU
lkohtz@techcu.com

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