MoneyGeek’s Take: First Tech Federal Credit Union Personal Loan Review

First Tech Federal Credit Union is a member-owned institution that offers financial services and products. It’s an ideal lender for credit union members that need quick funding for almost any need. Their minimum credit score isn’t disclosed online since they work with different credit profiles and consider other factors.

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Last Updated: 11/1/2022
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First Tech Federal Credit Union offers unsecured personal loans where you can apply online. There’s a fixed rate and monthly payment, with repayment terms lasting up to seven years, depending on your agreement. You can also use your First Tech Federal Credit Union to consolidate debt.

At a Glance: First Tech Federal Credit Union Personal Loans


  • First Tech Federal Credit Union
    • 6.70% to 18%APR Range
    • 660Minimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 12 to 84 monthsRepayment Terms
    • Same DayTime to Receive Funds
OUR REVIEW - A DEEPER DIVE INTO FIRST TECH FEDERAL CREDIT UNION

MoneyGeek Breakdown - FTFCU Personal Loan Details and Requirements

  • APR

    For personal loans, the annual percentage rate ranges from 6.70% to 18%.

  • Credit Score Requirements

    First Tech requires borrowers to have a minimum credit score of at least 660 to qualify for a loan. You can contact their Financial Wellness Center to ask directly.

  • Income Requirements

    First Tech doesn’t mention requirements for income. However, you can contact them through their website.

  • Loan Amounts

    Loan amounts range between $500 and $50,000.

  • Loan Terms

    For personal loans, First Tech has loan terms of 24–84 months.

  • Permitted Uses

    You can use your personal loan for almost any purpose, possibly weddings, medical expenses, house improvement, vacation and debt consolidation.

  • Prohibited Uses

    With First Tech, personal loans can’t be used for post-secondary educational expenses, business, gambling or illegal activities.

  • Time to Receive Funds

    It’s possible to get your funds on the same day that your loan application is approved.

  • Origination Fees

    There is no origination fee.

  • Late Fees

    First Tech’s late fee is 1.5% of the monthly interest or the legal maximum, whichever is lower.

  • Prepayment Penalty Fees

    There are no prepayment penalty fees with First Tech.

  • Co-signers and Co-applicants

    If you don’t qualify for a personal loan, you can have a co-signer or co-borrower.

  • Perks

    First Tech offers a rare feature among other lenders. You can use your personal loan funds to refinance an existing loan.

  • Mobile Application

    First Tech has a mobile app so you can manage your account.

Is First Tech Federal Credit Union Right for You?

MoneyGeek conducted a First Tech Federal Credit Union personal loan review to help you get a headstart when shopping around for personal loans. You can determine if First Tech fits your needs based on their borrower criteria and application process.

Who First Tech Federal Credit Union Is Perfect For

Getting a First Tech Federal Credit Union personal loan is an ideal option for individuals who are credit union members looking to get a loan within a few days. Additionally, members of First Tech are offered lower interest rates and higher savings rates.

With no origination fees, prepayment penalties and annual fees, First Tech is a great choice for individuals looking for savings or for those looking to pay their loan earlier than the agreed term. You can use your First Tech personal loan for almost any purpose like unexpected expenses, medical bills, weddings and more.

Who Should Not Choose First Tech Federal Credit Union

First Tech Federal Credit Union may not suit your needs if you need a loan amount above $50,000.

First Tech’s financial services are limited to credit union members. While you can apply for membership with First Tech, it’s an additional step in the personal loan process.

How to Apply for a First Tech Federal Credit Union Personal Loan

If you want to apply for a personal loan with First Tech Federal Credit Union, MoneyGeek listed the next steps you can take moving forward.

1

Compile Personal Information

First, you’ll need to gather personal information like your Social Security number (SSN), state ID or driver’s license and your contact information.

2

Fill Out Application Form

To see if you prequalify, you need to fill out First Tech’s online application. Here, First Tech will perform a soft credit check, which means that your credit score isn’t affected. If you qualify, the website will show possible loan terms and rates.

3

Wait for Approval

You can get your personal loan approved almost immediately. First Tech will conduct a hard credit check to see if you qualify.

4

Review Loan Agreement

Read through the loan agreement and its fine print to make sure you don’t miss out on any important details.

5

Sign Loan Agreement

If you’re amenable to the terms and rates, you’re ready to sign your loan agreement!

6

Receive or Direct Funds

Once you accept the loan, it takes around 1–3 days to receive funds from First Tech.

7

Make Payments

You’ll need to make monthly payments for your personal loan with First Tech.

What to Do if You Are Rejected From First Tech Federal Credit Union

It’s possible for personal loan applications to get rejected. But this doesn’t mean it’s the end of your personal loan journey. You can take other steps moving forward.

Your application may have been denied because of insufficient income, incomplete documents or no credit history. MoneyGeek advises that you reach out to First Tech Federal Credit Union and ask for the specific reason why your application wasn’t approved. This way, you’ll be able to determine what you need to work on.

If you still aren’t able to get a loan with First Tech Federal Credit Union, you have other options available. You can opt to apply with another personal loan lender where you qualify. However, make sure you improve the factor that caused your application to get denied in the first place.

Frequently Asked Questions About FTFCU Personal Loans

When deciding on a personal loan lender, consider your financial needs and responsibilities. To guide your decision-making, MoneyGeek answered the most commonly asked questions about First Tech Federal Credit Union.

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The content on this page is accurate as of the posting/last updated date; however, some of the rates mentioned may have changed. We recommend visiting the lender's website for the most up-to-date information available.

Editorial Disclosure: Opinions, reviews, analyses and recommendations are the author’s alone and have not been reviewed, endorsed or approved by any bank, lender or other entity.