First Technology Federal Credit Union

Overview / Commentary
2702 Orchard Pkwy
San Jose, CA 95134

First Technology Federal Credit Union is headquartered in San Jose and is the 3rd largest credit union in the state of California. It is also the 12th largest credit union in the nation. It was established in 1970 and as of September of 2023, it had grown to 1,659 employees and 656,384 members at 39 locations. First Technology Federal Credit Union's savings rates are 9X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in First Tech Federal Credit Union is open to members of the Financial Fitness Association (join for $8 yearly fee) or the Computer History Museum ($15 yearly fee). Membership is also open to those who live and work in Lane County in Oregon, work for the State of Oregon, or work for any of more than 960 Partner Companies (including many high tech and telecom companies).
See current membership details

Excellent Credit Union

Posted by: |

We moved our accounts to First Tech a little over a year ago to receive true Chip and Pin cards (as opposed to the US default of Chip and Signature) because of international travel. Since moving we cannot be more pleased with First Tech. We receive excellent customer service, and we never question the security of our accounts. There isn't even a local branch available in our state, but with the availability of Shared Branching COOP we don't even notice. ATM fees are refunded and the mobile app handles most everything we need. When we do travel to an area and can transact business in person the service has been nothing but spectacular.

First tech Credit union

First tech is a good, no-fee credit union. They do not require a minimum balance on either the savings or the checking account. The few times that I required help, I received very attentive, timely, and competent aid. As the name of the union implies, the staff there were very tech savvy and easily understood any technological problems I ran into. In fact, I set up the entire banking service online with them, when I was out of the country. The requirement for sign-up, however, was a bit difficult. I had to join a money-management group for a low fee (around 8 dollars) before being allowed into the credit union. I use this credit union as a secondary account, and it linked up easily with by main (Bank of America) account, which receives my automatic deposits.

First Technology Is Okay

Posted by: |

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.

Having Cancer Is Not Enough For Me To Get Assistance

Posted by: |

Today, September 1st, 2023, marks an unforgettable and disappointing day in my life, all thanks to First Tech Federal Credit Union. As a battling cancer patient, each day comes with constant struggles but I never anticipated that my bank would be adding to this distress.

In a shocking turn of events, my account got unexpectedly frozen today, and as a result, my access to necessary funds derailed, the most distressing part being missing my much-needed chemotherapy session. As anyone could imagine, this scenario painted a frightening picture for me.

Hoping for an immediate resolution, I contacted the bank's customer service, only to be met with an agent who exhibited a colossal lack of compassion and professionalism. Instead of providing any thoughtful explanation, he dismissed the severity of my situation, laughed and kept me on hold for an agonizing sixty minutes.

Unfortunately, today isn’t just another Friday; it is the start of Labor Day weekend, a time when you hope for relaxation and peace, not stress and frustration. The toll this incident has taken on my mental state is unimaginable.

The ordeal of cancer is already a public battle, and through this review, I don't aim to gain pity; rather, I wish to shed light on the stark reality of the service provided by First Tech Federal Credit Union, and hope that no one else has to go through such a distasteful experience.



Health Grade Components

NCUA #19976
Year Chartered1970
Primary Regulator
Profit Margin
Return on Assets - YTD0.19%
Return on Equity - YTD0.63%
Annual Interest Income$534.6MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$16.85B$16.42B
LoansQ3 2023vs Q3 2022$12.11B$11.73B
DepositsQ3 2023vs Q3 2022$11.77B$11.3B
Equity CapitalQ3 2023vs Q3 2022$5.08B$4.98B
Loan Loss AllowanceQ3 2023vs Q3 2022$128.9MM$81.8MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$61.6MM$37.9MM
Real Estate OwnedQ3 2023vs Q3 2022$0$409K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Technology Federal Credit Union Savings Account Rates

5.30%*$1m*-Business Instant Access
OTHER TIERS: 3.30% Up to $250k | 4.35% $250k - $1m
5.00%*-$1kStart Up Savings
OTHER TIERS: 0.10% $1k+
5.00%-$25kFirst Tech Rewards Savings
4.82%--First Tech Premier Rewards Savings
1.00%--HSA Checking
0.90%*$250k*-Instant Access Savings
OTHER TIERS: 0.75% Up to $100k | 0.85% $100k - $250k
0.90%*$250k*-Instant Access IRA
OTHER TIERS: 0.75% Up to $100k | 0.85% $100k - $250k
0.90%*$250k*-Instant Access Roth IRA
OTHER TIERS: 0.75% Up to $100k | 0.85% $100k - $250k
0.90%*$250k*-Instant Access CESA
OTHER TIERS: 0.75% Up to $100k | 0.85% $100k - $250k
0.05%$5-Membership Savings
0.05%-$5kCarefree 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

4.00%*-$15kFirst Tech Rewards Checking
OTHER TIERS: 0.10% $15k+
0.10%--Business Dividend Checking
0.10%--Start Up Checking
0.05%--First Tech Premier Rewards Checking
0.01%--First Checking Plus

First Technology Federal Credit Union CD Rates

4.30%$500-6 Month CD
4.30%$500-12 Month CD
4.30%$500-Business 6 Month CD
4.30%$500-Business 12 Month CD
3.85%$500-13 Month Bump Up CD
3.85%$500-Business 13 Month Bump Up CD
3.65%$500-24 Month Bump Up CD
3.30%$500-36 Month Bump Up CD
3.25%$500-60 Month CD
3.25%$500-Business 60 Month CD
2.10%$500-24 Month CD
2.10%$500-36 Month CD
2.10%$500-Business 36 Month CD
2.10%$500-Business 24 Month CD

First Technology Federal Credit Union IRA Rates

4.30%$500-6 Month IRA
4.30%$500-12 Month IRA
3.85%$500-13 Month Bump Up IRA
3.25%$500-60 Month IRA
2.10%$500-24 Month IRA
2.10%$500-36 Month IRA


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