Sunlight Financial Announces $400 Million Annual Commitment from Tech CU for Residential Solar Loans

Ribbon cutting ceremony to celebrate the opening of the solar financing provider’s new Charlotte operations center

NEW YORK & CHARLOTTE, N.C.--()--Sunlight Financial, a leading provider of financing for residential solar systems, and Tech CU (Technology Credit Union), a Silicon Valley-based credit union, today announced the extension of their solar loan partnership. Tech CU will each year commit another $400 million for about 15,000 loans originated by Sunlight’s expanding network of solar installers. This new, annual commitment to Sunlight follows Tech CU’s previous investments, announced in September 2015 and May 2017 and totaling $500 million.

“Sunlight’s comprehensive suite of 5- to 25-year solar loans and best in class technology enabled rapid growth in 2017”

On Thursday, January 25th at 6 pm, Sunlight Financial will hold a ribbon cutting ceremony to celebrate the relocation of its Charlotte operations center to 101 N. Tryon Street. To accommodate Sunlight’s rapid growth, the new office space is approximately 13,500 square feet, nearly four times larger than Sunlight’s previous Charlotte office, and has an open floor plan that can house more than 75 employees. The move follows Sunlight’s September 2017 relocation to a new, much larger headquarters in New York.

“Sunlight’s comprehensive suite of 5- to 25-year solar loans and best in class technology enabled rapid growth in 2017,” said Matt Potere, CEO of Sunlight Financial. “We look forward to continuing to expand our robust, multi-year partnership with Tech CU and providing funding for thousands more residential solar and storage systems, and the new roofs that may accompany them. In a rapidly changing industry, Sunlight is a well-capitalized, long-term partner for elite solar companies nationwide.”

Sunlight Financial offers its strategic partners a flexible suite of solar loan products for a wide range of residential property types. The company’s simple and straightforward online platform is accessible to partners directly, or through a quick technical integration. Through Sunlight and Tech CU, homeowners can be instantly prequalified and approved for solar loans with lower monthly payments than their utility bills.

“Tech CU is excited to be expanding our long-term partnership with Sunlight Financial, and is committed to funding tens of thousands of residential solar and storage systems in the years to come,” said Todd Harris, CEO of Tech CU. “As our relationship with Sunlight continues to expand, we are able to help more and more homeowners save money, while at the same time protect the environment. And over time, we have the opportunity to provide additional financial services from our comprehensive and competitively priced suite of products and services.”

About Sunlight Financial

Sunlight Financial (sunlightfinancial.com) is a leading national platform for residential solar and energy storage lending. The company partners with solar and battery installers, sales organizations and equipment distributors nationwide to help homeowners save money. Sunlight’s best in class technology and deep credit expertise simplify and streamline consumer finance, enabling solar companies to quickly provide homeowners with economic savings and environmental benefits.

About Tech CU

Tech CU (techcu.com) is a $2.5 billion credit union serving more than 95,000 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 by sharing the benefits of our growth. Founded in 1960 by the innovative employees of Fairchild Semiconductor, today we continue to be an industry leader, providing convenient and easy-to-use 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 high marks for its customer satisfaction 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 worldwide (more than Chase, Bank of America and Wells Fargo combined) and convenient branch access to our financial experts, Tech CU makes 24/7 banking easy and empowering.

Contacts

Sunlight Financial
Yoni Cohen, Direct - 201-808-5363
yoni.cohen@sunlightfinancial.com

Release Summary

Sunlight Financial Announces $400 Million Annual Commitment from Tech CU for Residential Solar Loans

Sunlight Financial