First Tech Federal Credit Union Personal Loan Review 2023

Learn more about personal loans from First Tech Federal Credit Union and compare to other online lenders for the best rates and lowest fees.
Written by:
Anna Baluch
Edited by:
Kristin Marino verified
Editor's Rating

First Tech Federal Credit Union is a federal credit union that offers secured and unsecured personal loans that range from $500 to $50,000. But you have to be a member to take advantage of them. Keep reading to learn how they work so you can determine if they make sense for your unique situation.

First Tech Federal Credit Union At-a-Glance

Our Bottom Line

As long as you’re a First Tech member or don’t mind joining, you can get approved for up to $50,000 with a First Tech personal loan.

Plus, you may defer your first payment for 45 days and enjoy 24/7 phone support any time you have a question or concern.

Compare Your Personal Loan Rates
Check Your Personal
Loan Rates
Choose a purpose for your loan
Always free and will not impact your credit score.

Compare to Other Personal Loans

First Tech Federal Credit Union is a solid choice for a personal loan. But if you decide it’s not right for you, you might want to explore these alternative options.


While First Tech’s personal loans cap out at $50,000, Lightstream’s loans go up to $100,000, making it a better option if you’re in search of a larger loan. Also, if you have good to excellent credit, you can lock in lower rates with Lightstream. Just like First Tech, Lightstream doesn’t charge origination fees and prepayment penalties.


Upgrade is similar to LendingClub in that it also accepts joint applications and co-signers. Plus it charges late fees too. Where Upgrade differs, however, is its origination fees and lack of brick-and-mortar locations as it’s solely an online lender.

Best Egg

Best Egg’s starting loan amount is $2,000, compared to First Tech’s $500 so First Tech might make more sense if you’d like a smaller loan. But both lenders offer maximum borrowing amounts of $50,000. Even though Best Egg’s rates are lower, you do need solid credit to qualify for them.

Which Lenders Have the Best Personal Loans?

Finding the lender with the best personal loan to meet your needs is as simple as using our search tool. Try it now and compare fees, interest rates, and more.

Pros and Cons of a First Tech Federal Credit Union Personal Loan

Here’s a look at the benefits and drawbacks of a personal loan from First Tech Federal Credit Union.

Pros of a First Tech FCU Personal Loan

Cons of a First Tech FCU Personal Loan

Who Is a First Tech Federal Credit Union Personal Loan For?

A personal loan from First Tech Federal Credit Union may be a good fit if you’re already a member or don’t mind joining the credit union. It may also be a strong choice if you:

  • Don’t have the best credit and want to apply with a co-signer or co-borrower.
  • Hope to avoid origination fees, prepayment penalties, and annual fees.
  • Wish to borrow a small amount of money.
  • Like the idea of applying and/or managing your loan in-person at a local branch.

If you have good credit, you may be better off with a personal loan from a different lender as First Tech’s starting interest rates are higher than average.

Top Features of the First Tech Federal Credit Union Personal Loan

Flexible Borrowing Amounts

First Tech lets you borrow between $500 to $50,000. This is great news as it may meet your needs, regardless of if you’re looking for a small loan for something minor like a new appliance or would like to cover a larger expense, such as a home improvement project.

Can Be Used for Various Purposes

You can put your First Tech loan proceeds toward just about any expense, such as debt consolidation, weddings, home improvements, and medical bills. But you can’t use it for investments, business ventures, or post-secondary education.

Fast Funding

If you need fast cash, you’ll be pleased to learn that First Tech offers fast funding. Upon approval, you can receive your funds that same day, depending on the day and time. You won’t have to wait days or weeks for funding.

Co-Signers and Co-Borrowers Accepted

You may strengthen your application with a co-signer or co-borrower as First Tech accepts both. A co-signer agrees to cover your loan payments if you default on them while a co-borrower shares equal responsibility for the loan.

Chance to Delay First Payment

First Tech gives you the chance to defer your first loan payment for up to 45 days after you receive the funds. If money is a bit tight, this can be a huge plus. Just keep in mind that it can increase how much you pay in total interest.

How to Get Started

To start the First Tech personal loan application process, you can visit the First Tech website and check your estimated rate and monthly payment online in about 30 seconds. This won’t affect your credit score. If you do decide to prequalify, be prepared to share personal details about yourself, such as your:

  • Name, email, and address
  • Date of birth
  • Social Security number or tax ID

If you decide to proceed with the loan, you’ll have to agree to a hard credit check and provide financial details, like your annual income and monthly housing payment. Depending on when you apply, First Tech can get back to you immediately or that same day with a decision.

First Tech also accepts personal loan applications via phone. All you have to do is call customer support. If you prefer the old fashioned route, you can stop into a local branch and apply in-person as well.

In the event you applied online, you’ll get an email with information on how to check your loan status. If you applied via phone or in-person, you may email or call 855-855-8805 for an update.

Rating the Features

Before you take the plunge and move forward with a First Tech Federal Credit Union personal loan, consider the following.

User Experience

It’s quick and easy to apply for a First Tech personal loan online. Simply prequalify in about 30 seconds to check your potential offer and move forward with the formal online application process if you’d like. You’ll find the First Tech website to be intuitive but you can always apply via phone or in-person at a local branch.


First Tech Federal Credit Union prides itself on no application fees, origination fees, and prepayment penalties, which are all often charged by other lenders. However, you may be on the hook for late fees, which can range from $15 to $25 every time you miss your payment deadline.


When it comes to rates, First Tech’s are higher than average, especially if you don’t have the best credit. Even though there’s no rate discount for enrolling in autopay, you can apply with a co-signer or co-borrower and increase your chances of a better rate.


First Tech offers a number of personal loans. You may opt for an unsecured personal loan that doesn’t require collateral or three secured personal loans, including the savings-secured loan, certificate-secured loan, and stock-secured loan.

Customer Support

You can download the First Tech app and manage your loan online. If you have a question or need assistance, customer service is available 24/7. You may also set up an in-person appointment at a local branch, send a secure message, or reach the credit union via mail.


First Tech Federal Credit Union serves customers in all 50 states through its robust website and mobile app. However, its in person locations are mostly in California, Oregon, and Washington. You may also find a branch near you if you live in Colorado, Georgia, Idaho, Massachusetts, or Texas.

Frequently Asked Questions (FAQs)

Do I have to join First Tech Federal Credit Union to take out a personal loan?

Yes, you will need to join First Tech before you apply for a personal loan. Fortunately, membership requirements are fairly lenient.

Where are First Tech Federal Credit Union personal loans available?

While First Tech has a bit more than 40 locations in select states, its personal loans are offered online to borrowers in all 50 states. You can take one out, no matter what state you live in.

Can I prequalify for a First Tech Federal Credit Union loan?

First Tech makes it easy to prequalify online and check your rate in about 30 seconds. Its prequalification tool won’t affect your credit score so you have nothing to lose.

Will I get approved for a First Tech loan with bad credit?

First Tech doesn’t reveal its minimum credit score requirements. But if you don’t have the best credit, you can apply with a cosigner or co-borrower to increase your chances of approval.