NEW YORK and CHARLOTTE, June 2, 2020 – Sunlight Financial, a leading fintech platform for point-of-sale financing, and Tech CU, a Silicon Valley-based credit union, today announced the expansion and extension of the nation’s longest and largest residential solar loan partnership. Tech CU committed to enabling more than 80,000 homeowners to go solar via Sunlight’s network of installers because of the strong performance of Sunlight-originated consumer loans.
“Sunlight is proud of our track record delivering high-quality loans for residential solar and home improvement,” said CEO Matt Potere. “We’re growing rapidly and appreciate Tech CU’s commitment to our fast and frictionless processes, innovative loan products, and future growth.”
Sunlight Financial last year originated about 20% of residential solar loans nationwide. Hundreds of experienced solar installers leverage the company’s best-in-class technology and point-of-sale financing to grow their offline and online business. Sunlight’s proprietary credit criteria and sophisticated decisioning engine empowers the company to grow quickly while delivering industry-leading loan performance.
“We’re excited to expand our partnership with Sunlight Financial, our first, and longest standing strategic relationship,” said Todd Harris, CEO of Tech CU. “Over the years, Tech CU and Sunlight Financial have built a strong partnership and we look forward to continuing that tradition while accelerating America’s transition to renewable energy.”
Sunlight and Tech CU have financed more than 50,000 residential solar systems since initiating their partnership in September 2015.
About Sunlight Financial
Sunlight Financial is a technology-enabled specialty finance company. Sunlight partners with contractors nationwide to provide homeowners with financing for residential solar and home improvement upgrades. Sunlight’s best in class technology and deep credit expertise simplify and streamline consumer finance, ensuring a fast and frictionless process for both contractors and homeowners. For more information, visit sunlightfinancial.com.
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 techcu.com.
Contact
Rich Recchio
Marketing, Sunlight Financial
704-469-4713
rich.recchio@sunlightfinancial.com