SAN JOSE, Calif. – Technology CU has introduced a new program aimed at providing financial services high tech workers who have recently come to Silicon Valley and foreign nationals who have established residency or gained citizenship.
“When high tech workers move to the country – typically on an H-1B visa – they are faced with a distinct set of challenges, including the need to establish credit and set up their first banking account,” said Harold Roundtree, senior vice president of retail banking for the $1.5 billion credit union. “Those who have been in the Bay Area for a while also have very specific financial needs – they may need to send money home or secure insurance for visiting relatives. Global Members was developed specifically to meet all of those needs as workers move along their professional and personal paths.”
The Global Members Program consists of a core set of services that includes:
* CreditStart: A loan program designed to assist employed individuals who are new to the U.S. with limited or no credit history.
* Foreign Remittance in partnership with XOOM: This service allows individuals to quickly send money abroad for bank deposit or cash pickup.
* International Wires: Members can send and receive funds via an electronic transfer, direct deposit or check order from their Tech CU account to a recipient outside the U.S.
* Travel Insurance: Tech CU has partnered with ExpertQuote Insurance Services, a Bay Area firm that offers travel medical insurance, to help those with visiting family members ensure their guests are protected by medical coverage while in the U.S.
