At First Tech Federal Credit Union, we provide full-service banking for affiliated technology companies and their employees. With 33 branches across California, Washington, Oregon, Colorado, Georgia, Idaho, Massachusetts, and Texas, they’re always nearby to serve your needs. Whether you’re opening a new account or taking out a loan, they may be able to help you. The company advertises its services online at firsttechfed.com.
- 25th best financial firm, USA (INC Magazine)
- Minimum Debt $10,000
- No Minimum Credit Score
- $3 billion+ debt resolved
- Minimum Debt $7,500
- No Minimum Credit Score
- $500 million debt resolved
- BBB A+ Rating
First Tech Federal Credit Union Summary
There are a lot of lenders out there vying for your business. So how do you know who to choose? First Tech Federal Credit Union is one option that has recently been getting a lot of attention. But is this lender the right choice for you? Here is a closer look at what they have to offer so you can make an informed decision.
In our investigation of their website and terms and conditions, we found a few key points that stood out.
- You can borrow from $500 to $50,000.
- You can qualify for rates between 7.99% and 11% APR.
- It offers loan terms of up to 84 months.
- Delay your first payment for up to 45 days.
- In order to take advantage of the benefits offered by the credit union, it is necessary to become a member.
- This lender does not offer a rate discount for setting up autopay.
- All loan applications are subject to credit approval.
What is First Tech Federal Credit Union?
A personal loan from First Tech Federal Credit Union can be a great way to cover unexpected expenses. You can get a personalized rate on a two-year loan “in 30 seconds or less,” according to the lender. This can be very helpful in an emergency situation. You can reach out to their customer service team by calling (503) 644-4034 – they’ve been providing their service for over 70 years!
The Better Business Bureau has not accredited the company and it has an average of 15 customer reviews with 61 complaints closed in the last 3 years. As a result, the company has a poor rating with only 1 star out of 5 from customers’ reviews.
How does First Tech Federal Credit Union work?
There are many ways to get a loan, but applying for one online is usually the quickest and easiest method. All you need to do is fill out a short form and provide some basic information about yourself and your finances. Once your application is approved, the money will be deposited directly into your account.
How to qualify for First Tech Federal Credit Union?
All you need is some form of identification, like a driver’s license or passport, plus some basic information about yourself, like name and address.
Credit scores are important, but you don’t need perfect credit to qualify for a loan with First Tech Federal Credit Union. There are many factors that can affect credit scores, so it’s important to be aware of them. Their Financial Wellness Center can help you learn more about credit scores and how to improve them.
First Tech Federal Credit Union BBB Reviews
With an average of 15 customer reviews and 61 complaints closed in the last 3 years, the Better Business Bureau has given this credit union an F rating.
Customers have given this credit union a 1-star rating, with common complaints including poor customer service, high fees, and difficulty withdrawing money.
Here are some reviews:
Scott P 10/29/2022
Laurie Z 03/11/2022
First Tech Federal Credit Union FAQs
How much does First Tech Federal Credit Union charge?
With First Tech Federal Credit Union you can borrow from $500 to $50,000 with no application fees, origination fees, or prepayment penalties. The fixed monthly installments and interest are spread out over two to seven years, so you can budget accordingly. Your annual percentage rate is based on your credit history and loan terms.
At First Tech, you can choose to defer your first payment for up to 45 days from when the money is dispersed. However, this could affect both your APR and the total interest you end up paying. You can also refinance your personal loan later on down the road should better terms become available; though you will need to qualify for the new loan and use those funds to pay off the old one.
Are there any pre-payment penalties?
First Tech Federal Credit Union does not charge prepayment fees, so you can pay off your loan early without any penalties. This makes it a great option for borrowers who want the flexibility to pay off their loans on their own terms.
How does First Tech Federal Credit Union affect your credit?
Before taking out a loan, it’s important to understand your credit score and what impact it may have on interest rates and loan terms. Many lenders will do a soft credit check to get an initial idea of your credit history, but this doesn’t affect your score. Once you fill out a loan application, the lender will do a hard credit inquiry which can lower your score. Knowing this information in advance can help you make the best decision for your financial needs.
How to cancel First Tech Federal Credit Union?
Before taking out a loan, it is important to be absolutely certain of your decision. Once the funds have been dispersed into your account, you cannot reverse or cancel the transaction. Be sure to avoid any problems down the road by being clear and upfront about your intentions from the start.
Do you find yourself struggling to make ends meet? Here is some advice that may help you get back on track.
See If You Qualify for Credit Card Relief
See how much you can save every month — plus get an estimate of time savings and total savings — with your very own personalized plan.
Are you feeling stressed about your finances? Don’t worry, you’re not alone. Getting your finances in order can be daunting, but it doesn’t have to be difficult. Just follow these simple steps and soon enough, your finances will be back on track.
- One of the most important things you can do for your finances is to create and stick to a budget. This will help prevent overspending and make better spending decisions overall.
- Another great way to get your finances on track is by speaking with a financial advisor. They can help assess your current situation and offer helpful advice on how to move forward based on your unique circumstances.
- And finally, don’t sweat debt too much. Many companies are willing to work with customers to create a manageable payment plan. So reach out to their customer service team for more information.”
Is First Tech Federal Credit Union legit or a scam?
Founded over 70 years ago, First Tech Federal Credit Union offers a variety of financial services across five states. However, the company has received poor ratings, earning an F from the Better Business Bureau with 61 closed complaints in the last three years. Consequently, customers have given them a 1-star rating.
Taking out a loan can be a big financial decision. There are a lot of things to consider, like the interest rate, repayment terms, and overall cost. Researching and comparing rates from different lenders is a good way to find the best deal. You can also read customer reviews to get an idea of which option might be best for you. By taking the time to do this, you can avoid taking out a loan that you cannot afford.
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First Tech Federal Credit Union
First Tech Federal Credit Union Review
Founded over 70 years ago, First Tech Federal Credit Union offers a variety of financial services across five states. However, the company has received poor ratings, earning an F from the Better Business Bureau with 61 closed complaints in the last three years. Consequently, customers have given them a 1-star rating.
