SOURCE: Tech CU

Tech CU

July 21, 2015 16:16 ET

Tech CU Opens Its Premier San Francisco Branch in Mid-Market, Near Twitter and Square

Expands Branch Footprint Into a New Market to Support Lines of Business and Membership Growth

SAN JOSE, CA--(Marketwired - Jul 21, 2015) - Yesterday Tech CU (Technology Credit Union) opened its mid-Market branch, located near Twitter and Square, at 1449 Mission between 10th and 11th Streets on the ground floor of the California Institute for Integral Studies (CIIS) building. The San Francisco location is the first in the city for Tech CU, as the credit union continues to grow membership and expand its retail and business banking, commercial lending, and wealth management lines of business.

The new branch boasts an innovative design and layout that includes interactive technology to help members learn about personal finance on their own terms, and a floor plan designed to facilitate one-on-one conversations -- everything from consultative discussions to quick exchanges. It's part of several branch innovations planned for 2015. Tech CU recently revamped and relocated its Fremont branch to the Pacific Commons shopping center and is making similar changes to its Sunnyvale and San Jose branches later this year.

"Our members in San Francisco are among the most digitally savvy people in the country who expect high-tech solutions to make their banking easier. Yet, for more complex transactions, they still desire personalized service and convenient access to experts who can guide them on the big financial decisions," said Debra Bowman, senior vice president of Retail Banking for Tech CU. "We've spent a lot of time determining the best branch design for accommodating both -- from a functional and a brand perspective. Our San Francisco branch definitely hits the mark."

Although this is Tech CU's first branch in the city, the credit union has been serving members who live and work throughout the Bay Area, including San Francisco, for 55 years. Tech CU also supports several nonprofits in San Francisco, including: Glide Family Youth and Childcare Center, Full Circle Fund and Tipping Point.

Tech CU's experienced bankers have significant market knowledge of San Francisco, and because loan decisions are made locally, they have greater flexibility to help members and businesses with their financial needs. Other key contributors to Tech CU's market share growth include:

  • Being named the top credit union lender in California for SBA loans in 2014, due in part to loan growth within the San Francisco market.
  • Recent funding of a number of commercial real estate (CRE) loans for partners in San Francisco, including a $13 million acquisition and renovation loan for a multi-tenant office building and a $12 million refinance loan for a non-profit.
  • Launching a new asset-based lending product for accounts receivable financing and inventory financing to provide small- to mid-size companies in San Francisco and beyond with revolving credit facilities ranging from $100,000 to $5 million. 
  • Expanding its wealth management division (in the second quarter of 2015, Tech Wealth Management's total investment assets under management reached more than $571 million; the company's Private Banking loan portfolio exceeded $319 million).

Tech CU will be holding a "Welcome Week" celebration from July 20 through July 24, during regular business hours. The public is invited to come into the Mid-Market branch to see the new design and meet the San Francisco team.

Location and hours of operation:
1449 Mission St.
(Between 10th and 11th)
San Francisco, CA 94103
Phone: (415) 553-6105
Hours: Monday-Friday, 9:00 a.m.-5:00 p.m.

ABOUT TECHNOLOGY CREDIT UNION
www.techcu.com

Tech CU is a $1.9 billion credit union serving more than 70,000 members throughout the San Francisco Bay Area -- including employees of such companies as Tesla, eBay, Applied Materials, Nvidia and Facebook. A federally insured, not-for-profit organization, we put the financial interests of our members ahead of shareholder profit by helping members achieve their financial goals on their terms and sharing the benefits of our growth. Founded in 1960 by a group of forward-thinking employees at Fairchild Semiconductor, today we continue to be an industry leader, providing innovative financial products for all stages of our members' lives, including personal banking, wealth management, private banking, commercial lending and business banking. Tech CU consistently achieves a customer satisfaction rating above 95 percent and maintains a 5-star rating from Bauer Financial, the nation's largest independent rating service for financial institutions. And, with mobile and online banking, 65,000+ surcharge-free ATMs, and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering. 

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