MoneyGeek’s Take

First Tech Personal Loan Lender Review

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ByChristopher Boston
Edited byCasie McCoskey
ByChristopher Boston
Edited byCasie McCoskey

Updated: December 21, 2023

Advertising & Editorial Disclosure

First Tech Federal Credit Union offers personal loans without prepayment, application or origination fees. It also provides flexible repayment terms ranging from 24 to 80 months. Its quick loan approval process and potential for same-day funding are major benefits for borrowers. However, membership in the credit union is required, and the lender doesn't disclose its highest possible APR upfront.

Ideal for people who value a transparent fee structure and flexibility in loan terms, First Tech caters to a wide range of borrowers, especially consumers looking for cost-effective and flexible loan options.

  • First Tech

    • As low as 8.99%APR Range
    • UndisclosedMinimum Credit Score
    • $500 to $50,000Loan Amount Range
    • 24 to 80 monthsRepayment Terms
    • Same DayTime to Receive Funds

    First Tech stands out in the personal loan space for several compelling reasons. First, its fee structure is borrower-friendly, with no prepayment, application or origination fees. That means you can save money, whether you're applying, paying off your loan early or just managing it regularly, making your loan more affordable over time.

    Another factor is its flexible loan terms, ranging from 24 to 80 months. It allows you to choose a repayment period that aligns perfectly with your financial situation, whether you prefer shorter-term loans or need more time to spread out payments.

    First Tech's potential for same-day funding can be a game-changer if you're in a pinch and need funds quickly. Quick access to funds can be crucial in times of need.

    In addition to these features, the lender's A+ BBB rating demonstrates its commitment to providing a positive and supportive lending experience. First Tech focuses on member needs, offering educational resources and tools that empower you to make informed financial decisions.


    • No prepayment, application or origination fees
    • Flexible loan terms from 24 to 80 months
    • Potential same-day funding
    • Member-focused with educational resources and tools


    • Requires credit union membership
    • Applies late payment and returned check fees
    • Does not disclose the highest possible APR on its website
    First Tech

Features of First Tech Personal Loans

First Tech Federal Credit Union offers personal loans you can tailor to your needs. You can use them for an unexpected expense or a planned purchase. These come with competitive fees and unambiguous terms, ensuring transparency. You'll also have access to reliable customer service and user-friendly online tools, making loan management hassle-free. Understanding these features can help you decide if First Tech matches your personal loan requirements, providing a clear picture of what to expect and how it aligns with your financial goals.

What Can You Use Your Funds For?

It's helpful to familiarize yourself with how you can use the funds from a personal loan, as some lenders have specific restrictions. Fortunately, First Tech gives you the flexibility to use your funds for various life events or needs, such as:

  • Education Expenses: Cover the costs of college or vocational training, including tuition, books and living expenses, possibly paving the way for a brighter career future.

  • Business Ventures: Use the loan to start a new business or grow an existing one. It could mean purchasing equipment, funding marketing campaigns, covering operational costs and helping your business dreams take flight.

  • Car Purchase: Finance the purchase of a new or used car, whether it's your first vehicle or an upgrade. A reliable car can be essential for daily commutes, job opportunities or family needs.

  • Home Purchases: While not a replacement for a mortgage, a personal loan can help with initial home-related expenses, such as furnishing a new home, making small renovations or covering moving costs.

  • Debt Consolidation: Combine several debts into a single loan with a potentially lower interest rate. This process can simplify your payments, reduce financial stress and help manage your budget more effectively.

You're accessing a versatile financial tool with First Tech Federal Credit Union. Its personal loans aim to support your needs and goals, whether for educational purposes, kickstarting a business, buying a vehicle, setting up your home or managing debts.

First Tech Personal Loan Terms

Understanding the terms of a First Tech personal loan will help you make informed financial decisions. Knowing the available loan amounts, repayment periods, and interest rates lets you plan your finances and find a lender that meets your borrowing requirements.

First Tech offers fixed personal loan terms ranging from 24 to 80 months. The length of your loan impacts key factors like the lowest possible Annual Percentage Rate (APR) you can access and the maximum amount you can borrow. While First Tech doesn't disclose the highest possible APR on its website, the table below can help you understand how different terms affect your loan.

Loan Term
Lowest Possible APR
Minimum Loan Amount
Maximum Loan Amount

24 months




36 months




48 months




60 months




72 months




First Tech allows you to choose a loan term that aligns with your financial situation and goals. Whether you need a short-term loan or a more extended period to spread out payments, First Tech provides options to suit various needs. Just be mindful that your credit score and loan details will ultimately determine your rate and terms.

First Tech Personal Loan Fees and Discounts

With First Tech, you'll find a borrower-friendly fee approach. It does not charge a prepayment penalty, which means you can pay off your loan early without incurring extra costs. This benefit is convenient if you find yourself in a position to clear your debt sooner than expected. There are no application or origination fees, making applying for the loan more cost-effective. You also won't have to worry about an annual fee for your loan.

However, be mindful of a few specific charges:

  • Late Charge: First Tech will charge a late fee if you miss a payment. The amount varies based on the loan terms and conditions.
  • Returned Check Payment Fees: It also charges a $28 fee if your payment bounces.

First Tech's fee structure aims to be transparent and manageable, allowing you to plan your loan repayments with a clear understanding of the costs involved.

First Tech Customer Service

Good customer service is relevant when choosing a personal loan lender because it ensures you have support whenever you have questions or issues with your loan. First Tech offers several ways to connect with its team, making getting the help you need easy. Here are your options:

  • 24-Hour Toll-Free Number: For general inquiries, call 855-855-8805 anytime. If you're outside the U.S., dial +1 503-644-4034.

  • Schedule an Appointment: First Tech offers in-person and virtual appointments, letting you choose the most convenient option for you.

  • Find Nearby Locations: Easily search for First Tech or CO-OP branches and ATMs.

  • Digital Banking Support: If you're a member of First Tech's digital banking, use the Secure Message Center for personal account messages. Use the chat feature in the Bill Pay section on a desktop for live assistance.

Customer reviews reflect their satisfaction, with Trustpilot showing a 4 out of 5 rating from 444 reviews, 74% of which are 5-star ratings. It's indicative of First Tech's commitment to quality service.

First Tech Personal Loan Online Resources

When choosing a personal loan lender, consider the additional resources it provides, not just the quality of its service record. Resources can help you manage your loan and improve your financial knowledge.

First Tech provides several valuable tools:

  • Free Mobile App and Online Banking: Stay on top of your loan with easy access to account details, payment options and transaction history right from your phone or computer.

  • Interactive Online Financial Calculators: These tools help you visualize loan repayments and financial scenarios with dynamic graphs and sliders, making it easier to plan your budget and loan strategy.

  • Educational Content: Access a wealth of information on key financial topics, including effective budgeting, saving strategies, understanding credit reports, and insights into insurance and investing. All of these can help you make sounder financial decisions.

First Tech's comprehensive resources exceed typical customer service, offering you the tools and knowledge to manage your loan and overall financial health confidently.

Qualifying for a First Tech Personal Loan

Understanding the eligibility criteria for a First Tech personal loan ensures you're well-prepared and aware of your approval chances.

Firstly, to access First Tech's personal loan options, you need to become a credit union member. During the membership application, you must provide your Social Security Number (SSN), valid U.S. Driver's License or state-issued identification, and contact information. This initial step establishes your relationship with the credit union.

Regarding eligibility for a personal loan, First Tech evaluates several key factors:

  • Credit Score: While credit requirements are flexible, it's beneficial to be aware of your credit score. First Tech offers products that cater to a wide range of credit histories, meaning your credit doesn't have to be perfect to qualify.

  • Income Requirements: Your income is another crucial factor. It helps determine your loan eligibility and the potential loan amount you can receive.

  • Co-Signer or Co-Applicant: If your credit score isn't as strong as you'd like, you might consider applying with a co-signer or a co-applicant. That person is also responsible for the loan repayment, which can be advantageous. However, choosing someone trustworthy is best because of the shared responsibility.

By understanding these criteria, you can better prepare for your loan application with First Tech, enhancing your chances of approval and ensuring a smoother process.

Is a First Tech Personal Loan Right for You?

Deciding if First Tech is your ideal personal loan lender is a significant step. You can determine if First Tech aligns with your needs by considering factors like loan terms, fees, customer service and eligibility criteria. Making an informed choice now can save you time and money and help you avoid financial stress in the future.

Who Can Benefit From a First Tech Personal Loan?

If you value repayment flexibility, First Tech's range of loan terms can be a major benefit. It allows you to tailor your repayment plan to fit your budget, whether you prefer a quicker payoff or need more time to manage monthly payments. It may also be a solid personal loan lender option for borrowers looking to keep costs down. First Tech has no prepayment, application or origination fees, which can save you money, making the loan more manageable over the long term.

First Tech's potential for same-day funding is a significant advantage if quick access to funds is a priority. It's also an excellent fit for borrowers who appreciate having resources at their fingertips. It provides educational tools and resources, so the support you receive goes beyond your loan — you'll also gain knowledge to make informed decisions about your money.

Who Shouldn’t Secure a First Tech Personal Loan?

One significant limitation is the requirement of being a First Tech Credit Union member. If you're not a member or don't meet the criteria for membership, you'll want to seek other lenders. Membership is not only a prerequisite for a loan but also limited to certain individuals in the U.S., which could exclude potential borrowers.

If you anticipate difficulties in making timely payments, consider the implications with First Tech. Remember that it charges fees for late-payments and returned checks. These extra costs can add up, making the loan more challenging to manage for someone needing help with regular payments.

How to Apply for a First Tech Personal Loan

Applying for a personal loan with First Tech is a straightforward process, but understanding the steps beforehand can make it even smoother. Knowing what to expect helps you prepare the necessary information and documents, ensuring a quicker and hassle-free application.

Here’s what you can expect if you pursue a First Tech personal loan:

Check Your Credit

Before applying, review your credit score and debt-to-income ratio. It can help you understand your financial standing and how it might affect your loan terms.

Determine Your Needs

Decide how much you need to borrow. This step ensures you apply for a loan that fits your financial requirements.

Complete the Online Application

You can apply for a loan online in just a few minutes. The application will require personal and employment information, as well as some form of identification.

Submit Required Documents Digitally

First Tech facilitates digital document delivery for convenience, making the process efficient and environmentally friendly.

Await Loan Decision

Most loans at First Tech are approved almost immediately or within a business day, depending on the loan amount and your overall financial situation.

Receive Funds

Once approved, you could receive the loan funds the same day. In some instances, it may take two to three business days, depending on your unique circumstances.

A structured approach ensures you have all the necessary information and documents ready, paving the way for a quick and hassle-free loan application process. First Tech aims to provide financial support promptly, catering to your urgent needs without delay.

What to Do if You’re Denied

Being denied a personal loan can be disheartening, but it's not the end of your financial journey. You can take several steps to understand and improve your situation.

  • Understand the Reasons for Denial: First Tech will provide reasons for loan denial. It could be due to credit score, income, debt-to-income ratio or other factors. Knowing the specifics can help you address these issues for future applications.

  • Boost Your Financial Profile: Work on improving your credit score and reducing debts. Paying bills on time, keeping credit card balances low and correcting any errors on your credit report can help.

  • Consider a Co-Signer or Co-Applicant: Adding a co-signer or co-applicant with a more robust financial profile can increase your chances of approval. This person will share the responsibility for the loan.

  • Look for Alternative Financing Options: Explore other lenders, credit unions or online financing options. Some may have more lenient requirements or be more suited to your financial situation.

  • Seek Professional Financial Advice: A financial advisor can provide personalized advice on improving your financial health and increasing your chances of loan approval.

Remember, a loan denial isn't a reflection of your worth. It's an opportunity to reassess and strengthen your financial standing. With the proper steps, you can position yourself for a successful application in the future.

FAQ About First Tech as a Personal Loan Lender

There’s nothing like clear information to help you determine the best personal loan lender for your borrowing needs. We addressed common questions about First Tech, providing you with detailed insights to make informed decisions.

Does First Tech have restrictions on how you can use your funds from a personal loan?
What is the minimum credit score requirement for a First Tech personal loan?
How long does First Tech take to approve a personal loan?
Does First Tech have a mobile app?
Is a First Tech personal loan secured or unsecured?
How much can I borrow using a First Tech personal loan?
What fees will I encounter with a First Tech personal loan?
How does applying for a First Tech personal loan affect my credit score?
Does First Tech offer an autopay discount for personal loans?
Can you have co-signers on a First Tech personal loan?

About Christopher Boston

Christopher Boston headshot

Christopher (Croix) Boston was the Head of Loans content at MoneyGeek, with over five years of experience researching higher education, mortgage and personal loans.

Boston has a bachelor's degree from the Seattle Pacific University. They pride themselves in using their skills and experience to create quality content that helps people save and spend efficiently.

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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. Learn more about our editorial policies and expert editorial team.