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As a credit union, First Tech is owned and run by its members, describing its philosophy as “people before profit.” Unlike a traditional bank, the organization is governed by a volunteer board of directors who are also First Tech members. This gives the union the flexibility to offer attractive deals to its members without needing to answer to shareholders.
Notably, First Tech pays a generous 3.00% APY on qualifying deposits, which is far higher than the average interest rate for a checking account. Plus, the union doesn’t require you to keep a minimum monthly balance in your account.
However, you’ll need to meet First Tech’s eligibility requirements to join, which you can find on its website.
Originally designed for those working in the tech industry, First Tech offers a range of high-tech solutions.
For instance, its BillPay feature allows you to make secure online payments to individuals and businesses. Likewise, you can add digital wallets such as Apple Pay, Google Pay, and Samsung Pay to your account, which allow you to make contactless payments via your phone.
The First Tech app also allows you to send money to friends and family within minutes via their mobile number or email address.
First Tech offers all the conventional services you’d expect from a bank, including a debit card and check-paying facility.
You can use your First Tech card without surcharges at 30,000 ATMs nationwide. Additionally, the credit union offers an ATM reimbursement plan, refunding out-of-network ATM fees up to $15 per month.
Beyond checking, First Tech provides a wide variety of traditional banking services, including savings accounts, IRAs, credit cards, personal loans, and mortgages.
If you take out a First Tech World Mastercard and make a minimum of 20 transactions per month, you can receive 0.5% cashback, up to $15 per month. Additionally, you can get a $10 rebate per month on any subscription services you charge on the card.
You’ll also earn 0.25% cashback on minimum payments made to a First Tech HELOC or loan via your checking account.
If you open a Rewards Checking account, you can earn 5% APY on deposits of up to $15,000 and 0.1% on deposits over this amount.
To receive this rate, you’ll need to:
Although First Tech doesn’t charge a monthly maintenance fee on its Rewards Checking account, the following fees apply:
| Fee type | Amount |
| ATM transactions | None at First Tech/Co-op network $2 at all other ATMs* |
| Overdraft | $33 (no charge on overdrafts below $5/maximum five charges per day) |
| Incoming wire transfer | $5 |
| Outgoing wire transfer | Domestic: $20 International: $65 |
| Card PIN rush (two-day delivery for card PIN) | $20 |
| Rush delivery on cards | Next-day delivery: $35 Two-day delivery: $20 |
| International transaction/Currency conversion fee | 1% of purchase amount |
| Foreign check exchange fee | $30 |
| Foreign currency fee | $25 |
| Legal garnishments | $50 |
| Stop payments | $33 |
| Expedited bill payments | $30 |
* First Tech’s ATM reimbursement plan pays rebates of up to $15 per month on out-of-network fees
You can contact First Tech by phone, live chat, secure message, or email. Customer support hours are Monday-Friday, 6am-6pm.
Alternatively, you can arrange an in-branch or virtual appointment with an agent. Although walk-in appointments are available, First Tech recommends that you schedule an appointment online. In most cases, you can book a same-day virtual appointment.
The comprehensive FAQs on First Tech’s website also provide extensive information about its products and services.
You can open an account online, over the phone, or by scheduling a virtual/in-person appointment, with the initial application taking a couple of minutes.
At the time of writing, First Tech has a score of 4.2 out of 5 stars on Trustpilot, which is classified as “great.”
Users who rated the organization highly praised its knowledgeable staff and ease of use, while less satisfied members reported problems with customer service and delayed responses to complaints.
You can download First Tech’s app from Google Play or the App Store.
The app allows you to:
The app currently has a rating of 4.7 out of 5 stars on both the App Store and Google Play.
Positive reviewers praised the app’s user-friendly layout and simple process for transferring funds. However, some users have reported issues with logging in and frequent glitches.
First Tech uses SSL encryption on its website, which establishes a secure connection between its servers and your device. This measure safeguards any sensitive information you enter about your finances.
In terms of cybersecurity, the union offers several features to protect your data and your money.
This includes:
If you believe your account has been hacked, the organization has a dedicated fraud team to offer support.
As First Tech is federally insured by the National Credit Union Administration (NCUA), funds in your account are protected up to $250,000 per person.
First Tech could be an excellent choice if you’re looking for a free bank account with generous rewards. Along with offering all the services you would expect from a traditional bank, the credit union pays3.00% APY on qualifying deposits.
Although you’ll need to meet certain criteria to become a member, these are fairly broad, with employees of more than 900 companies being eligible. Additionally, its membership of the National Credit Union Administration means that any deposits in your accounts are protected up to $250,000 per person.
We compiled this review by visiting First Tech’s website, testing its application tool, and reading online reviews from industry publications and customers.
1. APY= Annual Percentage Yield. Rates effective as of 02.01.2025. Rate may change after the account is opened. Qualified APY is 3.00% . Non-Qualified APY is 0.01%. $25 minimum opening deposit. Terms and conditions apply. Fees could reduce the earnings on the account. Membership is required and subject to approval.
2. Qualification Requirements Per Monthly Cycle: To qualify, you must meet all of the following qualification requirements: 1. Have an aggregate spend of at least $1000 per month posted to the applicable accounts. Qualifying transactions include: 1. Posted debit card purchases to the First Tech Rewards Checking account. 2. Posted credit card purchases on a First Tech credit card account. Credit card purchases must be made on a First Tech credit card account with the same primary account owner as the First Tech Rewards Checking account. 2. Have ACH deposits totaling at least $1,000 per cycle (either multiple aggregate ACH deposits equal to $1,000 or one $1,000 ACH deposit) to the First Tech Rewards Checking account. 3. Enrollment in electronic statements and electronic disclosures and notices for the primary account owner. The first monthly cycle will automatically meet all qualification requirements. For every monthly cycle thereafter, all qualification requirements must be completed and posted to your account prior to the last day of the calendar month. For example, the last day of March is March 31. Qualifying debit and/or credit card purchases must post to your account(s) by March 30 for purposes of this example. Keep in mind that debit and/or credit card purchases can take several days to post and depend on merchant processing times.
3. Qualified direct deposits of $1,000 to $5,000 per month must be received for a one-time $50 bonus; qualified direct deposits greater than $5,000 per month must be received for a one-time $300 bonus. The monthly aggregate amount of all qualifying direct deposits must meet or exceed the tier minimum for the corresponding tier bonus. New direct deposit must occur at least once per calendar month from the Participant’s employer payroll or approved government benefits provider (e.g., Social Security) into the FTRC account of which the Participant is the primary account owner. Direct deposits from any other source do not qualify. Direct deposits are considered new if there has been no direct deposit activity in the Participant's share accounts on which they are the primary owner within the previous 18 months. Non-direct deposits including, but not limited to, check deposits, wire transfers, transfers from another First Tech account, non-payroll ACH transfers, such as small business payments or owner distributions, transfers from another financial institution, person to person transfers, merchant transactions, and one-time bonus or tax reimbursements do not qualify. First Tech reserves the right to evaluate each account holder's Direct Deposit activity and Qualifying Deposits during each Enrollment Period at our sole discretion. To determine eligibility for bonuses, we may request additional documentation for verification. Any transactions that are not identified as direct deposits may be disqualified, and any applicable bonuses may be forfeited. Enrollment is the date of the initial direct deposit transaction. During the period of time commencing with Enrollment and ending 90 calendar days after Enrollment (“Enrollment Period”), at least one direct deposit transaction must occur each calendar month starting with the initial direct deposit transaction. A minimum of three direct deposit transactions must be received during the Enrollment Period. (EXAMPLE: If a member’s initial direct deposit is June 1, 2025, additional required direct deposits must occur at least once in each subsequent calendar month following the month in which the initial direct deposit is made, the last direct deposit must be received by August 31, 2025. Bonuses would be deposited by September 7, 2025.) Only the Participant will receive credit for the direct deposits. Any qualifying bonus will be deposited to the Participant’s Membership Savings account the first week following the Enrollment Period. Bonuses may be considered dividends and may be reported on the appropriate IRS form 1099.
4. New Direct Deposit Offer: Members who have received a promotional payout for a First Tech direct deposit campaign within the past 18 months are not eligible (“Participant”). Must be 18 years of age or older and the primary account owner on a First Tech Rewards Checking (“FTRC”) account to participate. Membership is required and is subject to approval. Fees could reduce earnings on the account. FTRC accounts must be personally owned accounts. Fiduciary, trust, business, or organization accounts are not eligible. Members will be enrolled in the promotion upon receipt of new direct deposit transaction into the FTRC account upon which they are the primary account owner (“Enrollment”). To receive any bonus payout, in addition to satisfying the payout conditions set forth in this disclosure, the Membership Savings account must be in good standing (not in default, closed, inactive, or otherwise not in good standing) during the period of time commencing with Enrollment and ending with the applicable date of payout. First Tech reserves the right to modify or terminate this campaign at any time. Any inquiries or disputes will be resolved at the sole discretion of First Tech and must be received no later than 180 days after enrollment.
