First Tech Federal Credit Union: Savings, Checking and CDs

First Tech Federal has a range of personal and business banking products to choose from and offers 24/7 customer service. But you’ll need to meet eligibility requirements to become a member.

Our verdict

Founded in 1952, First Tech Federal Credit Union is a member-owned financial institution that offers a variety of options for checking, saving and share certificates — a credit union’s equivalent of certificates of deposit (CDs). Members get access to over 30,000 fee-free ATMs, which makes cash withdrawals convenient. However, its savings account rates aren’t the best unless you jump through a few hoops, and the credit union’s online reputation is a bit hit-or-miss. And if you prefer in-person banking, branch locations are limited to a handful of states.

Best for: Those looking for a free rewards checking account with in-person and virtual service.

Is First Tech Federal Credit Union right for you?

First Tech Federal Credit Union, or First Tech, can be a good fit if you’re looking for a high-yield checking account with a solid APY and minimal monthly fees. That said, you may want to look elsewhere if you need a top-tier APY or want in-person support but live outside First Tech Federal’s service areas.

Like most credit unions, First Tech limits its membership criteria based on employment, residency or familial relationships. A few membership qualifiers include:

• Work for one of its 900+ partner companies, such as Amazon or Microsoft
• Work for the State of Oregon
• Live or work in Lane County, Oregon
• Have a family or household member who is a First Tech member
• Belong to the Financial Fitness Association

First Tech says that if you’re unsure whether you qualify for membership, you can schedule a virtual or in-person meeting to determine eligibility.

How First Tech Federal Credit Union stacks up

First Tech offers several perks that help distinguish it from the competition, but similar to other credit unions, you must meet specific criteria to become a member and open an account.

Where it shines

• High-yield checking. First Tech Federal’s Rewards Checking offers up to 3.00% APY — an impressive rate for a checking account.
• Minimal monthly fees. Most of this credit union’s checking and savings accounts have no monthly maintenance fees.
• Fee-free ATMs. First Tech Federal is part of the CO-OP ATM network, which supports over 30,000 fee-free ATMs across the US.
• 24/7 customer service. First Tech Federal’s toll-free line is available 24/7.

Where it falls short

• Mediocre savings rates. If you’re solely looking for a savings account that can grow your money fast, you can find high-yield savings accounts that pay much better APY elsewhere.
• Questionable online reputation. First Tech Federal is not an accredited business with the Better Business Bureau (BBB) and has mixed reviews.
• Limited branch network. First Tech branches are only located in California, Colorado, Georgia, Idaho, Massachusetts, Oregon, Texas and Washington.

First Tech’s checking accounts

First Tech advertises two personal checking accounts on its website: First Tech Rewards Checking and First Checking Plus.

First Tech Rewards Checking

First Tech Rewards Checking allows you to earn a higher APY in conjunction with its First Tech Rewards Savings account. Qualified members could also receive up to 1% cash back on credit card spending and up to 0.50% cash back on minimum loan payments.

But to qualify for the advertised rate of 3.00% APY, you must first meet these three requirements:

• Have a minimum monthly card spend of at least $1,000
• Make monthly direct deposit/ACH of at least $1,000
• Enroll in paperless statements

If you don’t meet those requirements, you’ll only earn 0.01% APY, which just isn’t that competitive at all.

Though there aren’t any monthly maintenance fees or minimum balance requirements with this account, you’ll have to meet a $25 minimum opening deposit.

First Checking Plus

Unlike First Tech Rewards Checking, First Checking Plus isn’t a checking account that pays you for keeping money in the bank.

However, it has zero monthly maintenance fees and no account requirements, so it’s still a solid choice if you’re looking for a low-maintenance option without messy frills. Like the other account, this First Checking Plus gives you free access to over 30,000 CO-OP ATMs.

First Tech’s savings accounts

First Tech Federal Credit Union has several savings accounts to choose from. Like most savings accounts, you’re limited to up to six withdrawals per month, and like all of First Tech’s other products, you must be a member of the credit union to be eligible.

• First Tech Rewards Savings. Pays a nice 3.00% APY, but to unlock this rate, you must have the Rewards Checking account and meet a few requirements. Otherwise, the APY on all balances is only 0.01%. Note that the same monthly requirements that apply to earning interest on the Rewards Checking account also apply to the Rewards Savings account.
• Instant Access Savings. Offers a much lower APY of up to 0.40% compared to Rewards Savings, but with this account, you can benefit from tiered interests on larger balances. For account balances between $0.01 and $99,999.99, you earn 0.25% APY. For account balances between $100,000 and $249,999.99, the APY goes up to 0.35%. And for account balances above $250,000, you get 0.40% APY.
• Membership Savings. Offers the lowest APY of the three — 0.01%. That said, you only need to meet the $5 minimum balance account requirement to qualify, and there are zero monthly account maintenance fees.

First Tech Federal Credit Union’s share certificates

At First Tech Federal, you can choose from traditional share certificate terms that range from six to 60 months and bump-up share certificates with terms ranging from 13 to 36 months. Traditional share certificates offer a fixed interest rate for the entire term, whereas bump-up share certificates let you increase your rate once (or multiple times) if rates rise during the term.

First Tech’s rates range from 2.95% to 3.50% APY, all with a reasonable $500 opening deposit requirement. Standard share certificates have terms of either six, 12 or 60 months, while bump-up options offer terms from 13, 24 and 36 months.

Customer reviews and ratings

First Tech Federal has the highest rating with the BBB and solid ratings on Trustpilot as of February 2025. Many praise the credit union for its excellent customer service.

That said, First Tech Federal has accumulated over 100 customer complaints on its BBB profile over the past three years, with some reporting unexpected account closures and delays in customer support. The credit union also has below-average ratings on several Yelp profiles for its physical branch locations.

To make sure you get accurate and helpful information, this guide has been edited by Bethany Hickey as part of our fact-checking process.

Written by

Jamela Adam

Contributor

Jamela Adam is a personal finance writer with over three years of experience. Her work has been published in major publications, including Yahoo Finance, Forbes Advisor, U.S. News, Business Insider, GOBankingRates, CNN Underscored, and Chime. Jamela previously worked as a content marketing specialist and helped devise content strategies for major brands in the financial services space. She is also a Certified Financial Education Instructor (CFEI). See full bio