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First Tech Federal Credit Union Review 2024

Updated January 5, 2024
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At a glance

4.0
Rating: 4 stars out of 5
Bankrate Score
Caret Down

CDs

Rating: 4.1 stars out of 5

Checking

Rating: 4.5 stars out of 5

Savings

Rating: 3 stars out of 5

About Bankrate Score

Overview

First Tech Federal Credit Union is likely best for customers on the west coast, where most of its branches are located. It’s easy to open an account since there are no monthly fees and minimum deposits are relatively low. Moreover, the credit union offers competitive yields on its share certificates.

Highlights

  • No Monthly Fees
  • Low Min Deposit
  • 24/7 Customer Service
Sponsored offers
Info

These are sponsored offers rated highly by us for competitive rates, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/27/2024
Rating: 4.4 stars out of 5
$1
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.10
%
APY
APY
Info
As of 5/27/2024
Rating: 4.7 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer:
Bank logo
Member FDIC
Savings Account
5.00
%
APY
APY
Info
As of 5/27/2024
Rating: 4.9 stars out of 5
$0
Min. balance for APY
View offer Arrow Right
Promoted offer: Plus, no monthly fees and unlimited free external transfers

Overall

First Tech Federal Credit Union offers a large swath of financial services, ranging from traditional deposit products like savings and checking accounts to credit cards and home loans. Though the APYs for the credit union’s share certificates are competitive, the yields for most of its savings and checking accounts leave much to be desired.

Pros

  • Checkmark

    There’s free access to over 30,000 CO-OP ATMs across the country.

  • Checkmark

    Share certificates offer competitive APYs.

  • Checkmark

    There are no monthly fees or minimum balance requirements.

  • Checkmark

    There’s nearly 6,000 CO-OP shared branch locations you can visit for help.

Cons

  • Higher yields for checking and savings accounts can be found elsewhere.

  • There aren’t fee rebates for ATMs outside of the CO-OP network for most deposit accounts.

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First Tech Federal Credit Union banking products

3.0
/5
Rating: 3 stars out of 5
See methodology Compare savings rates
SCORE BREAKDOWN
APY offering:
0.05%
Rating: 1 stars out of 5
1/5
Info
Minimum balance to earn interest:
$5.00
Rating: 5 stars out of 5
5/5
Info
Monthly service fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Minimum balance to avoid fee:
$0.00
Rating: 5 stars out of 5
5/5
Info
Access to funds:
Great
Rating: 5 stars out of 5
5/5
Info
FEATURES
Invest Rate
0.05% APY
Info
Loan
$5 minimum deposit to open

First Tech Federal Credit Union savings overview

First Tech offers a variety of savings accounts. The account scored for this section is called Instant Access Savings, which you can open with a minimum of $25. The yield for this account is higher than the national average, but higher APYs can generally be found elsewhere. This account is also tiered, meaning the more money you have in the account, the more you’ll earn in interest.

Three other savings accounts are available; two of them require much smaller opening deposits, but they also come with lower yields. The last account, called First Tech Rewards Savings, comes with a sizable APY for balances up to $25,000.

All accounts come with free online and mobile banking, and there’s no monthly fee. You can link your savings account with your checking to avoid overdraft fees.

Pros

  • Checkmark

    None of the savings accounts charge monthly fees.

  • Checkmark

    There is overdraft protection available.

  • Checkmark

    Instant Access Savings is a tiered account.

  • Checkmark

    A high-yield account option is available.

Cons

  • Higher yields can be found elsewhere.

  • See how rates for this account have changed over time. Interact with the trend lines to view APY by date.

    First Tech Federal Credit Union
    APY
    APY
    Info
    National average APY
    How do we get this data?
    Info
Compare Offer
Sponsored Offer
Info

This is a sponsored offer rated 4 stars or higher for competitive rate, fees, and minimums.

Bank logo
Member FDIC
Savings Account
4.25
%
APY
APY
Info
As of 5/27/2024
Rating: 4.4 stars out of 5
Info
$1
Min balance for APY
Promoted offer:

Bank fees

Fee Charged?
Overdraft fee $33
Non-sufficient funds fee None
Monthly maintenance fee None
Out-of-network ATM fee $2
Excessive transaction fee $2

Customer experience

Customer service. Customer service by phone is available 24/7, but you can also reach a representative through secure online messages or in-person and virtual appointments. 

Digital experience. Person-to-person payments can be made using Zelle, and the debit card works with Apple Pay and Google Pay. You can also use your First Tech debit card to freely access over 30,000 CO-OP ATMs across the U.S. First Tech’s mobile app is highly rated by reviewers on the Apple App Store and Google Play Store.

About First Tech Federal Credit Union Bank

Founded in 1952, First Tech Federal Credit Union is an NCUA-insured institution with its main address in San Jose, California. The credit union has more than $16 billion dollars in assets and more than 30 branches mainly concentrated in California, Colorado, Oregon and Washington. The credit union offers many personal banking products, including share certificates, checking accounts and savings accounts.

Review methodology

With so many financial institutions to choose from, it can be hard to know who to trust. Bankrate’s ever-growing list of bank and credit union reviews is updated regularly. Our editorial team analyzes and reviews each institution across deposit products such as savings accounts, checking accounts, certificates of deposit (CDs) and money market accounts (MMAs). Banks are rated by important factors such as offered interest rates, fees, minimum balance requirements, access to funds and more.

We assign a score to each type of account and its features, weigh them carefully based on importance to account holders and determine an overall score. Read our full review methodology.