First Tech Federal Credit Union Review: Checking, Savings and Certificates
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Many or all of the products on this page are from partners who compensate us when you click to or take an action on their website, but this does not influence our evaluations or ratings. Our opinions are our own.
Overview
First Tech Federal Credit Union offers a checking account with perks and no monthly fees. Anyone can apply for membership if they meet an easy requirement.
No monthly fees.
Large free nationwide ATM network.
ATM fee rebates.
Participates in shared branching with other credit unions.
Expensive overdraft fee.
Low rates on some accounts.
Product reviews
Savings
Having a Membership Savings account is necessary to be a member of the credit union, and allows you to open other accounts at First Tech. Though you won’t make much interest with the Membership Savings account — it earns less than the average national savings account rate of 0.38% APY — you need only $5 to open an account, and there are no monthly fees (though a fee for inactivity can be assessed).
The credit union also offers a Rewards Savings account that pays 3.00% APY on all balances if requirements are met. To have the Rewards Savings account, you’ll need to have a Rewards Checking account. The Rewards Savings account wasn’t factored into our rating for the credit union.
» See how these rates stack up: Check out the best savings accounts
First Tech Federal Credit Union Membership Savings
Checking
First Tech offers a checking account that has cash back rewards on credit card and loan payments, but you’ll have to jump through some hoops to get those perks: Enroll in electronic statements, spend at least $1,000 per month with a linked debit or credit card and have at least $1,000 in monthly ACH or direct deposits. But the account has a minimal rate of 0.01% APY if requirements are met, and no interest if requirements aren't.
Regardless of the hoops to get rewards, the account has no monthly maintenance fees or minimum balance requirements.
First Tech Federal Credit Union Rewards Checking
Certificates of deposit
First Tech’s share certificates (credit unions’ version of certificates of deposit) have rates that are far better than what you’ll find at traditional banks. The credit union’s minimum deposit requirement is reasonable (and lower than what some credit unions require), though you can find lower requirements — and higher rates — at some online banks.
» Want to comparison shop? See the best CD rates
Full List of Certificate Rates
| Term | APY | Min Deposit |
|---|---|---|
| 6 months | 4.07% | $50,000 |
| 6 months | 3.15% | $500 |
| 1 year | 3.10% | $500 |
| 1 year | 2.20% | $50,000 |
| 2 years | 2.25% | $50,000 |
| 2 years | 1.35% | $500 |
| 3 years | 2.45% | $50,000 |
| 3 years | 1.35% | $500 |
| 5 years | 3.55% | $50,000 |
| 5 years | 2.85% | $500 |
First Tech Federal Credit Union Certificate
Customer experience & overdraft fees
Customer experience
Unlike many credit unions, First Tech makes it easy to join. The most straightforward ways to apply to become a member are to work or live in Lane County, Oregon, work for a qualifying technology or telecom company or for the state of Oregon, or be related to a First Tech member. You can also apply to join First Tech if you're a member of the Computer History Museum or a nonprofit called the Financial Fitness Association. Not many credit unions provide this type of option.
Though First Tech is easy to join, it has only a few dozen branches, mostly along the West Coast. But it also participates in shared branches — members have access to thousands of shared credit union branches in the Co-op network for some services. The credit union is part of a shared network of ATMs, too, so members have free access to more than 30,000 ATMs nationwide. On top of that, First Tech will reimburse up to $10 per month in fees at domestic, out-of-network ATMs.
Information can be found relatively easily on the credit union's website, but if you want to talk to a human by phone First Tech is available only on weekdays. You can also make an appointment for in-person or virtual support, or get help by mail, secure messaging or online chat.
First Tech’s mobile apps are rated well by both Android and iOS users.
Overdraft fees
The credit union’s overdraft policy is pricey. Though First Tech’s overdraft fee is slightly lower than what some banks charge, it’s more costly than what you’ll find at some other credit unions. You’ll owe $33 every time you overdraw your account. First Tech charges an overdraft fee up to five times per day, which would cost you $165. Note that some banks and credit unions don’t charge overdraft fees.
The credit union offers free overdraft transfers from a linked First Tech savings account or personal line of credit.
» COMPARE: Check out our picks for best banks for overdrafts
Rating methodology
How we rate banks and credit unions
Banking writers and editors use an objective methodology to rate banks, credit unions, and other providers, and to recommend the best products.
100+
Financial institutions reviewed
100+
Financial institutions reviewed
We took a close look at around 100 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.
30+
Categories assessed
30+
Categories assessed
Each provider is evaluated across five weighted categories and 30 subcategories, including checking and savings accounts, certificates of deposit, customer experience, and overdraft services. For banks or credit unions without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
60+
Data points analyzed
60+
Data points analyzed
We considered more than 60 data points for each provider. Depending on the category, these included account fees and rates (such as annual percentage yields), ATM and branch access, account features, account bonuses, customer service access and user-facing technology, such as innovative tools and mobile apps. We gathered this information for each financial institution from its website, a media representative or both.
Star rating categories
The review team is made up of seasoned writers and editors who cover personal banking deposit accounts, such as checking, savings and certificates of deposit, as well as related banking services, such as overdraft programs and ATM networks. For providers without one or more types of accounts, the overall rating is modified to include only applicable categories. Institutions are not penalized if they don't offer every type of account.
Financial institutions and providers surveyed are: Affirm, All America Bank, Alliant Credit Union, Ally Bank, Alto, Amalgamated Bank, American Express National Bank, Andrews Federal Credit Union, Associated Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, Boeing Employees Credit Union, Bread Savings®, BrioDirect, Capital One, Cash App, CFG Bank, Charles Schwab Bank, Chase, Chime, CIBC U.S., CIT Bank, Citibank, Citizens Access, Citizens Bank, Climate First Bank, ConnectOne Bank, Connexus Credit Union, Consumers Credit Union, Current, Customers Bank, Discover® Bank, E*TRADE, EverBank, Fifth Third Bank, First Foundation, First Internet Bank, First Tech Federal Credit Union, FNBO Direct, Forbright Bank, FourLeaf Federal Credit Union, GO2bank, Golden 1 Credit Union, Hope Credit Union, HSBC Bank, Huntington Bank, Ivy Bank, KeyBank, Lake Michigan Credit Union, LendingClub Bank, Live Oak Bank, M&T Bank, Marcus by Goldman Sachs, My Banking Direct, NASA Federal Credit Union, Navy Federal Credit Union, NBKC, Newtek Bank, OMB Bank, OnePay, Openbank, PayPal, Peak Bank, Pentagon Federal Credit Union, PNC, Poppy Bank, Popular Direct, Quontic Bank, Regions Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Santander Bank, SchoolsFirst Federal Credit Union, Security Service Federal Credit Union, Securityplus Federal Credit Union, Self-Help Credit Union, Service Credit Union, SoFi, State Employees’ Credit Union of North Carolina, Synchrony Bank, TAB Bank, TD Bank, Truist Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Valley Bank, Varo, Venmo, Vio Bank, Wells Fargo, Western Alliance Bank, Zolve and Zynlo Bank.
NerdWallet does not receive compensation for our star ratings. Read more about our ratings methodologies for banks and credit unions and our editorial guidelines.