When it comes to choosing a lender, it can be overwhelming to navigate through the numerous options available. One lender that has been generating a lot of attention recently is First Tech Federal Credit Union. But is this credit union a legitimate choice? In this review, we will take a closer look at First Tech Federal Credit Union and its offerings to help you make an informed decision.

Understanding First Tech Federal Credit Union
First Tech Federal Credit Union is a full-service banking institution that primarily serves affiliated technology companies and their employees. With 33 branches spread across California, Washington, Oregon, Colorado, Georgia, Idaho, Massachusetts, and Texas, they strive to be easily accessible to meet their customers’ needs. Whether you’re looking to open a new account or take out a loan, First Tech Federal Credit Union claims to provide the necessary assistance. Their services can be found online at firsttechfed.com.
First Tech Federal Credit Union is not just a financial institution; it is a comprehensive solution for individuals seeking financial fitness. As a leading technology credit union, First Tech Federal Credit Union offers a wide range of services and products to support its members’ personal finance goals. From tech personal loans and student loan refinancing to savings accounts and online banking, First Tech Federal Credit Union caters specifically to partner tech companies and provides an array of deposit accounts tailored to their unique needs.
With a commitment to financial education, they are associated with the Computer History Museum and actively promote financial literacy through their partnership with the Financial Fitness Association. Members can enjoy the benefits of First Tech Rewards while accessing competitive interest rates and extended payment periods for their loans.
With no monthly service fees and a focus on credit reports and monthly payments, First Tech Federal Credit Union stands out as a trusted technology credit union for those seeking a comprehensive financial institution that understands the intricacies of the tech industry.
Key Points to Consider
To get a better understanding of what First Tech Credit Union has to offer, let’s delve into some of the key points highlighted on their website and terms and conditions:

- Loan Amounts: Borrowers can apply for loans ranging from $500 to $50,000.
- Interest Rates: First Tech Federal Credit Union offers rates between 7.99% and 11% APR, which may vary based on individual creditworthiness.
- Loan Terms: The credit union provides loan terms of up to 84 months, giving borrowers flexibility in choosing a repayment plan.
- Deferred Payment: First Tech Federal Credit Union allows borrowers to delay their first payment for up to 45 days after loan dispersal.
- Membership Requirement: To access the credit union’s benefits, becoming a member is necessary.
- Autopay Discount: Unfortunately, this lender does not offer a rate discount for setting up autopay.
- Credit Approval: Like most lenders, all loan applications are subject to credit approval.
First Tech Federal Credit Union Personal Loans
First Tech Federal Credit Union offers personal loans that can be a convenient solution for covering unexpected expenses to its credit union members. According to the lender, you can obtain a personalized rate for a two-year loan in “30 seconds or less.” This quick and easy application process can be particularly beneficial during emergencies. Should you need assistance, their customer service team can be reached at (503) 644-4034. It’s worth noting that First Tech Federal Credit Union has been in operation for over 70 years, contributing to its experience in the industry.
How First Tech Federal Credit Union Works
Applying for a loan online is often the quickest and easiest method, and First Tech Federal Credit Union follows this approach. The application process involves filling out a short form and providing basic information about yourself and your financial situation. Once your application is approved, the funds will be directly deposited into your account.
Qualifying for First Tech Federal Credit Union

To qualify for a loan with First Tech Federal Credit Union, you typically need some form of identification such as a driver’s license or passport. Additionally, basic personal information, including your name and address, is required. While credit scores play a role in the loan approval process, you don’t necessarily need a perfect credit history to qualify.
First Tech Federal Credit Union takes into account various factors beyond just credit scores when evaluating loan applications. They understand that credit scores can be influenced by multiple factors, and they provide resources like their Financial Wellness Center to help customers learn more about credit scores and how to improve them.
First Tech Federal Credit Union BBB Reviews
As mentioned earlier, the Better Business Bureau has given First Tech Federal Credit Union a poor rating with only 1 star out of 5. This rating is based on customer reviews and complaints. It’s essential to consider these reviews and complaints as they provide insights into the experiences of previous customers. Common complaints include issues with customer service, high fees, and difficulties with withdrawing funds.
Better Business Bureau Rating
The Better Business Bureau (BBB) is an organization that provides accreditation and ratings for businesses. Unfortunately, First Tech Federal Credit Union has not been accredited by the BBB and has garnered a poor rating. With an average of 15 customer reviews and 61 complaints closed in the last three years, the credit union has received only 1 star out of 5 from customer reviews. The common complaints include poor customer service, high fees, and difficulties with fund withdrawals.
Understanding First Tech Federal Credit Union’s Loan Terms
When considering a loan from First Tech Federal Credit Union, it’s important to understand the details of their loan terms. Here are some frequently asked questions and answers about their loan offerings:
How much can you borrow?
First Tech Federal Credit Union allows borrowers to apply for loans ranging from $500 to $50,000. This range provides flexibility for various financial needs.
Are there any fees involved?
First Tech Federal Credit Union does not charge application fees, origination fees, or prepayment penalties. This means that borrowers can secure a loan without incurring additional costs, and they have the option to pay off their loan early without any penalties.
What are the repayment options?
The credit union offers fixed monthly installments spread over two to seven years, depending on the loan terms. This allows borrowers to budget accordingly and plan their repayment strategy.
Can the first payment be deferred?
First Tech Federal Credit Union provides the option to defer the first payment for up to 45 days from when the loan is dispersed. However, it’s important to note that deferring the first payment may impact the annual percentage rate (APR) and the total interest paid over the life of the loan.
Can you refinance a personal loan?
Yes, First Tech Federal Credit Union allows borrowers to refinance their personal loans in the future if better terms become available. However, it’s crucial to qualify for the new loan and use the funds to pay off the old loan.

FAQs
1: What sets First Tech Federal Credit Union apart from other lenders?
Answer: First Tech Federal Credit Union distinguishes itself through its focus on serving affiliated technology companies and their employees. With over 70 years of experience, their specialized knowledge of the tech industry allows them to tailor their financial services to meet the unique needs of technology professionals. Additionally, their extensive branch network across multiple states ensures convenient access to their services.
2: How does First Tech Federal Credit Union prioritize customer satisfaction?
Answer: Customer satisfaction is a top priority for First Tech Federal Credit Union. They strive to provide excellent customer service through various channels, including phone support and in-person assistance at their branch locations. They value feedback from their customers and continuously work to improve their services based on customer input. Additionally, their Financial Wellness Center offers resources and educational materials to help customers make informed financial decisions.
3: What security measures does First Tech Federal Credit Union have in place to protect customer information?
Answer: First Tech Federal Credit Union takes the security of customer information seriously. They employ robust data encryption protocols to safeguard sensitive data transmitted through their online platform. Additionally, they have implemented multi-factor authentication for added account security. Regular security audits and monitoring systems are in place to detect and mitigate any potential threats. First Tech Federal Credit Union adheres to industry best practices to ensure the privacy and security of customer information.
4: Can First Tech Federal Credit Union assist individuals with low credit scores?
Answer: First Tech Federal Credit Union understands that credit scores may not always reflect an individual’s full financial situation. While credit scores are considered during the loan application process, they also take other factors into account. They have a personalized approach to lending, considering factors such as income stability, employment history, and debt-to-income ratio. Even individuals with lower credit scores may have opportunities to secure a loan with First Tech Federal Credit Union.
5: What resources does First Tech Federal Credit Union provide to help customers improve their financial wellness?
Answer: First Tech Federal Credit Union is committed to helping customers improve their financial wellness. Their Financial Wellness Center offers a range of educational resources, articles, and tools to help individuals develop better financial habits. Customers can access information on budgeting, credit management, saving strategies, and more. Additionally, they offer workshops and seminars on various financial topics to further support their customers’ financial well-being.
6: Can individuals from outside the technology industry become members of First Tech Federal Credit Union?
Answer: While First Tech Federal Credit Union primarily serves individuals affiliated with technology companies, membership eligibility extends beyond the tech industry. Family members of current members are eligible to join, as are employees of select partner organizations. Additionally, individuals can qualify for membership through their association with specific geographic areas or by joining certain nonprofit organizations. First Tech Federal Credit Union strives to be inclusive and welcomes eligible individuals from various backgrounds.
7: How does First Tech Federal Credit Union contribute to the community?
Answer: First Tech Federal Credit Union is actively involved in supporting the communities they serve. They participate in various philanthropic initiatives, partnering with nonprofit organizations and local charities to make a positive impact. They provide financial education programs in schools and offer scholarships to help students pursue higher education. First Tech Federal Credit Union is dedicated to giving back and fostering community development.
8: What happens if a borrower faces financial difficulties and struggles to repay their loan?
Answer: First Tech Federal Credit Union understands that unforeseen circumstances can arise, causing financial difficulties for borrowers. In such situations, they encourage open communication with their members. They offer assistance through financial counseling services and may work with borrowers to explore alternative payment arrangements or hardship programs that can provide temporary relief. It’s important for borrowers experiencing financial hardships to reach out to First Tech Federal Credit Union as early as possible to discuss their situation and explore available options. By proactively communicating with the credit union, borrowers can often find mutually beneficial solutions to manage their loan obligations during challenging times.
Building Financial Resilience
While considering First Tech Federal Credit Union or any lender for your financial needs, it’s essential to prioritize building financial resilience. Here are some tips to help you get back on track and manage your finances effectively:
- Create and Stick to a Budget
Developing a budget is one of the most crucial steps in managing your finances. By tracking your income and expenses, you can gain better control over your spending habits and make informed financial decisions.
- Seek Advice from a Financial Advisor
If you’re feeling overwhelmed or unsure about your financial situation, consulting a financial advisor can provide valuable guidance. They can help assess your current circumstances and provide tailored advice to help you achieve your financial goals.
- Addressing Debt Concerns
Debt can be a significant source of stress for many individuals. However, many companies, including lenders like First Tech Federal Credit Union, are willing to work with customers to create manageable payment plans. If you’re struggling with debt, reaching out to their customer service team for assistance and information can be beneficial.
Is First Tech Federal Credit Union Legitimate?
First Tech Federal Credit Union has been in operation for over 70 years and offers a range of financial services. However, it’s important to consider the poor rating from the Better Business Bureau and customer complaints when evaluating the credibility of this lender. Conducting thorough research, comparing rates from different lenders, and reading customer reviews are all essential steps in making an informed decision.
Remember, taking out a loan is a significant financial commitment, and it’s crucial to understand the terms, interest rates, and overall cost involved. By dedicating time to research and comparison, you can avoid entering into a loan agreement that may strain your finances.
It’s also worth noting that your credit score plays a crucial role in the loan application process. Before applying for a loan, it’s important to understand your credit score and its potential impact on the interest rates and loan terms you may receive. Many lenders, including First Tech Federal Credit Union, conduct a credit check during the application process. While a soft credit check may be performed initially, a hard credit inquiry will be conducted when you submit a loan application. It’s important to be aware that a hard credit inquiry can temporarily lower your credit score. Understanding this process can help you make informed decisions and prepare accordingly.
Lastly, it’s important to be confident in your decision before finalizing a loan agreement. Once the funds have been dispersed into your account, reversing or canceling the transaction may not be possible. Open and clear communication with the lender from the beginning is crucial to avoid any future complications.
In conclusion, First Tech Federal Credit Union offers a range of financial services, including personal loans, to individuals associated with technology companies. However, it’s important to consider the poor rating from the Better Business Bureau and customer reviews that highlight concerns about customer service and fees.
Conducting thorough research, comparing rates, and carefully reviewing the terms and conditions are essential steps to determine if First Tech Federal Credit Union is the right lender for you. Remember to assess your own financial situation, prioritize building financial resilience, and seek professional advice if needed. By taking these steps, you can make an informed decision that aligns with your financial goals and needs.
First Tech Federal Credit Union
First Tech Federal Credit Union Review
First Tech Federal Credit Union has been in operation for over 70 years and offers a range of financial services. However, it’s important to consider the poor rating from the Better Business Bureau and customer complaints when evaluating the credibility of this lender. Conducting thorough research, comparing rates from different lenders, and reading customer reviews are all essential steps in making an informed decision.