First Tech Federal Credit Union 2026 Personal Loan Review
First Tech personal loans are a solid option for current or prospective credit union members.
- Want low rates.
- Want fast funding.
- Aren’t a First Tech member and don’t want to join.
- Need to cover business expenses.
What to know about First Tech Credit Union personal loans
Editor’s note: First Tech did not complete our most recent survey requesting details regarding its personal loan product. We used the information on its website to update our review, but could not verify its accuracy. Due to the lack of verifiable information, NerdWallet did not give First Tech’s personal loan a star rating.
If you’re like the average person looking for a personal loan, you’re likely in search of an option that’ll get you money quickly, will cover your unique borrowing needs and isn’t going to cost a ton in interest. First Tech personal loans pretty much fit that description.
First Tech Credit Union offers same-day funding for personal loans and a wide range of loan amounts and terms. Rates are capped at 18%, which is cheaper than other lending options that charge up to 35.99% interest.
The catch is that you have to be a member of the credit union to get one of its loans. While First Tech originally served employees in the tech industry, you can gain membership simply by joining one of the credit union’s partner organizations, like the Financial Fitness Association or the Computer History Museum. You could also be eligible for membership if you live in a particular area in Oregon or Massachusetts, or if someone in your family or household belongs to the credit union.
» MORE: Compare the best personal loans
What we like most about First Tech
- Low rates: First Tech’s annual percentage rates range from 6.99% to 18%, which are lower than many of the lenders we review. (Federally-chartered credit unions like First Tech cannot charge rates over 18%.)
- No origination fees: First Tech does not charge an origination fee unlike some lenders that charge origination fees up to 10% of the loan amount. No origination fees help you save on the cost of borrowing.
- A wide range of loan amounts and terms: You may qualify for a First Tech personal loan from $500 to $50,000, which could cover an emergency, debt consolidation or a large expense, like a home improvement project. Terms range from six months to seven years, allowing you plenty of options whether you plan to quickly repay the loan or need longer-term financing.
- Joint and secured loan options: First Tech allows joint loans, so you can share a loan (and payment responsibilities) with a co-borrower. Choosing a co-borrower with a higher credit score or income than you could make you more likely to qualify for a larger amount or lower rate. First Tech also offers secured personal loans, which can also improve your chances of getting a larger loan or lower rate. You can use a First Tech savings account or share certificate as collateral for a secured loan.
- Fast approval and funding: You may be able to get your loan funded the same day you apply. First Tech says most applicants get an instant decision and receive same-day funding, if approved.
Why First Tech may not be right for you
- Must be a credit union member: If you’re not a First Tech member, you’d have to join the credit union in order to get one of its loans. You could qualify for membership based on where you live or work, or you could be eligible by joining one of First Tech’s participating nonprofit organizations, like the Financial Fitness Association or the Computer History Museum.
- You can’t use a personal loan for business expenses: While several lenders also restrict you from using a personal loan for business purposes, some do allow it. If you plan to use the money to cover expenses for your small business or side gig, you’ll have to borrow from another lender. (Check out our picks for the top small business loans.)
» MORE: Top credit unions for personal loans
How much does a First Tech personal loan cost?
The total cost of your First Tech loan depends on the amount borrowed, annual percentage rate and loan term. Here is an example of how different rates affect the costs of a $15,000 loan with a 3-year term.
APR | 10%. | 15%. |
Monthly payment | $484. | $520. |
Total interest cost | $2,424. | $3,719. |
Total loan cost | $17,424. | $18,719. |
» MORE: Use our personal loan calculator to estimate your costs
Do you qualify for a First Tech personal loan?
First Tech says it considers your credit score, income and overall financial picture when making loan approval decisions, but it doesn’t disclose a minimum credit score or income requirement on its website.
You can test your likelihood of loan approval by pre-qualifying for a personal loan. Pre-qualifying involves a soft credit check, which doesn’t affect your credit score.
First Tech’s borrowing requirements
- Must be a credit union member.
- Must provide employment and income information.
- Must provide valid ID.
» MORE: How to get a personal loan
Frequently asked questions
Q: What can I use a First Tech personal loan for?
A: You can use a personal loan for a wide variety of purposes, including for debt consolidation, home improvement projects, medical expenses, emergencies, weddings, vacations and major expenses. A couple things you can’t use the loan for include post-secondary education expenses and business expenses.
Q: Does First Tech have a mobile app?
A: Yes, First Tech has a mobile app where you can manage your loan payments. You can download the app from Apple’s App Store or Google Play.
How does First Tech compare?
 |  |  |  |  |
|---|---|---|---|---|
Est. APRFrom 6.99% to 18.00% | Est. APRFrom 6.99% to 35.49% | Est. APRFrom 5.96% to 35.99% | Est. APRFrom 7.49% to 24.94% | Est. APRFrom 7.74% to 35.99% |
Loan amountFrom $500 to $50,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 | Loan amountFrom $5,000 to $100,000 | Loan amountFrom $1,000 to $75,000 |
Min. credit scoreNaN | Min. credit scoreNaN | Min. credit score600 | Min. credit score660 | Min. credit score600 |
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