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First Technology Federal Credit Union

Based on 10 reviews
Overview / Commentary
1335 Terra Bella Ave
Mountain View, CA 94043-1835

First Technology Federal Credit Union is headquartered in Mountain View and is the 4th largest credit union in the state of California. It is also the 10st largest credit union in the nation. It was established in 1970 and as of March of 2014, it had grown to 826 employees and 370,449 members. First Technology Federal Credit Union's savings rates are 92% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

If you meet one of the following membership requirements, then come in and get wired today. ** Work: - for a high tech or telecom sponsor company - for the State of Oregon -- in Lane County, Oregon. ** Live: -- In Lane County Oregon ** Be: -- An immediate family member of a First Tech member, regardless of where you live -- A member of the Financial Fitness Association (You can enroll today!). - See Details

Related Posts

I Actually Wanted To Post No Star For The Rating...

I have had nothing but problems with this Credit union. I am telling ALL my friends and all their friends about the problems I have encountered. I had called to have my loan pay due dates moved to the 15th and the 20th. After being told the due dates were re adjusted, I called again to verify, again I was told the dates were the 15th and the 20th. This month I ended up overdrawn. Guess what happened? First Tech withdrew my money on the 13th anyway. I had to run to two different banks to straighten this out as well as call the credit union several times to figure out what happenend. Well the due dates were moved, to the 15th and the 20th but they still pulled the money on the 13th??? What about this  makes sense?? They just had my money for two extra days that is the only difference it made when I called to change the due date of my loan. Why would I go to the trouble to do that if I wanted the money withdrawn on the 13? There have been several other issues that have come up since then. Just want everyone to know, be careful some things are not as they seem.

First Technology Is Okay

I've been a member of First Technology CU since June of 1987, when it was the credit union for Tektronix.  Back then it was a small, friendly credit union that really strived for excellent customer service.  Over the years, I've had a number of car loans and HELOC loans through First Technology. For years, I was content to do all of my backing with First Technology.

I first noticed customer service slipping when First Technology became the credit union for Microsoft.  At that time, they made it difficult to use any other financial planning software other than MS Money.  They eventually relented and went back to supporting Quicken.

About 5 years ago, I noticed that the tellers and phone support people picked up an attitude.  After way too many encounters with surly phone support folks, I moved my checking and savings accounts to Advantis CU, which is more like what First Technology was 20 years ago.

First Technology is in negotiations with the banking regulators to merge with Addison Avenue CU (HP's old CU).  It remains to be seen if the regulators will allow First Technology and Addison Avenue to merge.  If approved, the merged entity will be called First Technology, but the headquarters will be in Palo Alto, CA instead of Beaverton, OR.  So I guess the HP versus Tektronix war is over and HP won.  Long live Tektronix!

My employer prefers HSA accounts at First Technology, so I am still a member, but I can't honestly recommend First Technology.  Their savings rates, and customer service are below average.  Their website is one of the best around.

Great Online Experience. Great Rates. OK Customer Service. Occasional Screw Up.

I have been a member for 20+ years and I have been satisfied with First Tech Federal Credit Union and think it is the best choice of banking institution in my area.  During the recent Bank Transfer Day I looked at other credit unions in the area and the rates at First Tech beat them.  Their credit card rewards program is better.  Their online experience is good and evolving although system upgrades can be painful with residual issues that are eventually fixed.  Their dividend rewards checking giving 2.55% yield on $10K (as of 6/6/2012) is better than other local banks.  There are no unreasonable fees.  You don't feel you are being nickel and dimed.  I think customer service could be more knowledgeable sometimes but I rarely contact them and the online experience is what matters to me.  I appreciate that First Tech is a non-profit and I feel they intend to to create a good banking experience for me and don't look at my relationship as a way to harvest profits or trap me into fees.  I occasionally benchmark against other banks and credit unions but I've always stayed with First Tech.  Anyone can actually get an account by becoming a member of the Financial Fitness Association.  It's a $5 fee that First Tech will pay for you for the first year and then you can just let it expire.  Nice loophole.

Too Many Processing Errors... Attempt To Whitewash... payoffs not credited, loan collateral not released.

1300- funds still not released, after the loan balances were paid off over 3 months ago.
Rolling late fees still accruing on a paid off loan.

Previously, representatives corrected errors when they were asked..
but more recently they get yanked to the back office.. and return with a denial
that an error exists, even after the rep acknowledges seeing the completed
payment and the lack of collateral crediting, on FTFs own website.

Ineptness--or embezzlement?

I was reminded by an attorney that fraud has no statute of limitations.

It's important to save the online history offline.



Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 First Technology Federal Credit Union had $13.98 million in non-current loans and owned real-estate with $713.41 million in equity and loan loss allowances on hand to cover it. This gives First Technology Federal Credit Union a Texas Ratio of 1.96% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for First Technology Federal Credit Union decreased dramatically from 2.91% as of March 31, 2013 to 1.96% as of March 31, 2014, resulting in a positive change of 32.69%.This indicates that the balance sheet and financial strength for First Technology Federal Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, First Technology Federal Credit Union has increased its total deposits by $316.31 million, resulting in 6.53% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Technology Federal Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Technology Federal Credit Union has $6.66 billion in assets with $713.41 million in equity, resulting in a capitalization level of 10.72%, which is above average.

Institution Statistics

NCUA #19976
Year Chartered1970
Primary Regulator
Assets and Liabilities
Assets$6.66 billion
Loans$4.21 billion
Deposits$5.16 billion
Equity Capital$695.02 million
Loan Loss Allowance$18.39 million
Unbacked Noncurrent Loans$13.09 million
Real Estate Owned$891,000
Historic Data - March 2013
Assets$5.67 billion
Equity Capital$639.26 million
Loan Loss Allowance$15.98 million
Unbacked Noncurrent Loans$13.09 million
Real Estate Owned$2.78 million
Profit Margin - Quarterly
Net Interest Margin0.88%
Return on Assets1.13%
Return on Equity10.78%
Interest Income$51.35 million
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First Technology Federal Credit Union Savings Account Rates

1.00%--HSA Checking
0.35%$250k-Instant Access Savings
0.35%$250k-Instant Access IRA
0.35%$250k-Instant Access Roth IRA
0.35%$250k-Instant Access CESA
0.20%$250k-Business Instant Access
0.10%--Carefree Savings
0.05%--Membership Savings
0.05%--IRA Savings
0.05%--Roth IRA Savings
0.05%--Coverdell Savings
0.05%--Business Membership Savings
0.05%--Simple Business Savings

First Technology Federal Credit Union Checking Account Rates

1.58%-$10kDividend Rewards Checking - Qualifying
0.10%$50k-Business Dividend Checking
0.05%--Dividend Rewards Checking - Non Qualifying

First Technology Federal Credit Union CD Rates

1.85%$500-60 Month CD
1.55%$500-Business 60 Month CD
1.00%$500-36 Month CD
0.75%$500-Business 36 Month CD
0.60%$500-24 Month CD
0.45%$500-12 Month CD
0.40%$500-Business 24 Month CD
0.35%$500-13 Month Bump Up CD
0.30%$500-6 Month CD
0.30%$500-Business 12 Month CD
0.20%$500-Business 6 Month CD
0.20%$500-Business 13 Month Bump Up CD

First Technology Federal Credit Union IRA Rates

1.85%$500-60 Month IRA
1.00%$500-36 Month IRA
0.60%$500-24 Month IRA
0.45%$500-12 Month IRA
0.35%$500-13 Month Bump Up IRA
0.30%$500-6 Month IRA

First Technology Federal Credit Union has 40 locations. Click to view all First Technology Federal Credit Union locations.