SOURCE: Technology Credit Union

Technology Credit Union

September 29, 2011 17:34 ET

Technology Credit Union Opens New Branch in Palo Alto

The Financial Center Will Offer Retail Banking, Business Banking, Wealth Management and More

SAN JOSE, CA--(Marketwire - Sep 29, 2011) - Technology Credit Union (Tech CU), among the top 1.5 percent of the nation's largest credit unions, is pleased to announce the opening of its newest financial center, located at 490 South California in Palo Alto. Open to anyone who lives and works in the six counties of the Bay Area, Tech CU's wide-ranging financial services include a variety of consumer, business and wealth management banking services, including mortgages, auto loans, SBA loans, and investments.

The Palo Alto branch will celebrate its official Grand Opening on Saturday, October 1 from 11:00 a.m. to 1:00 p.m. A ribbon cutting will take place at 11:30 a.m. with Palo Alto Vice Mayor Yiaway Yeh and Economic Development Manager Thomas Fehrenbach in attendance. The public is invited to join the celebration and meet the staff.

"Tech CU has served high tech companies and their employees in the Valley for more than 50 years, and now we're focused on continuing our growth by actively developing our Commercial and Business Banking services," said Barbara Kamm, president and CEO of Tech CU. "This is why Palo Alto makes sense for us. Not only is it near many of our existing customers, the city is truly an epicenter of entrepreneurial activity -- which is exactly where we want to be."

Tech CU was one of the first credit unions in the country to offer business banking to its members. Launched in 2006 and expanded in 2010, its business banking suite includes business checking accounts and online banking, commercial/business loans and lines of credit (including SBA loans ranging from $10,000 to $5 million and real estate loans), money market and certificate of deposit accounts, health savings accounts (HSAs), special purpose escrow accounts (SPEA), payroll services, merchant processing, and other business resources. Tech CU also offers a comprehensive line of wealth management services for both companies and individuals.

Kamm said the Palo Alto opening is part of Tech CU's strategic plans for growth throughout the Bay Area, including further expansion of its brick-and-mortar presence on the Peninsula in the next few years.

"Our members and member companies are spread far and wide, so we try to give them as many ways as possible to do their banking, including online and mobile banking, access to more than 60,000 surcharge-free ATMs nationwide, telephone banking, and full-service branches that are conveniently located."

Tech CU Palo Alto Financial Center
Main Phone: (650) 326-6445
Location: 490 South California Ave., Palo Alto, CA 94306
Hours of Operation: 9:30 a.m. to 6:00 p.m., Monday through Friday; 10:00 a.m. to 2:00 p.m. on Saturdays.
Financial Center Manager: Robert Hayes

Founded in 1960 by the employees of Fairchild Camera and Instrument Semiconductor Division, Tech CU has served the high tech workforce in Silicon Valley for 50+ years. Today, Tech CU has extended its membership benefits to small and medium-size businesses and individuals who live and work in the greater Bay Area. The credit union is recognized as one of the best-managed and strongest financial institutions in the country. Tech CU's 74,000 members have access to 60,000 surcharge-free ATMs nationwide, online and mobile banking, 10 full-service branches in the Bay Area, and comprehensive wealth management and small business services.

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