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finder.com’s rating: 4.2 / 5.0
★★★★★
$50,000
Max. Loan Amount
Starting at 9.20%
APR
Product Name | First Tech Federal Credit Union personal loans |
---|---|
Min. Loan Amount | $500 |
Max. Loan Amount | $50,000 |
APR | Starting at 9.20% |
Interest Rate Type | Fixed |
Loan Term | 2 to 7 years |
Review by
Anna Serio is a trusted lending expert and certified Commercial Loan Officer who's published more than 1,000 articles on Finder to help Americans strengthen their financial literacy. A former editor of a newspaper in Beirut, Anna writes about personal, student, business and car loans. Today, digital publications like Business Insider, CNBC and the Simple Dollar feature her professional commentary, and she earned an Expert Contributor in Finance badge from review site Best Company in 2020.
First Tech FCU’s no-fee personal loans come in a wide range of amounts and have a relatively simple application. They might be a good fit for anyone interested in borrowing from a credit union.
Its rates are particularly competitive for small-dollar loans, though borrowers with excellent credit might be able to find a better deal elsewhere if they’re looking for more than $5,000 in funds.
Not sure First Tech is right for you? Compare your other personal loan options below.
The only hard eligibility requirement for First Tech FCU's unsecured term loans is that you're a member. However, your credit score, income and debt will also be factored into your loan decision. You might have trouble getting approved if you're unemployed or have a DTI above 43%. Self-employed applicants might also have to submit additional documentation.
Becoming a member involves opening a First Tech FCU bank account. To join First Tech FCU, you must meet the following criteria:
The last two options are your two choices if you don't work for an eligible company, aren't related to a First Tech member or don't live in Lane County, Oregon. It costs at least $15 a year to become a member of the Computer History Museum, and membership to the Financial Fitness Association costs $8 a year.
The borrowers who mentioned the personal loan application process were happy with their rates and how simple it was. And while it doesn't have a Trustpilot page, customers have reviewed several of its locations on Yelp. Ratings typically hover around 2 or 3 out of 5 stars. It looks like everyone is generally happy with the quality of service as long as things go smoothly. But when something goes wrong, several complained that they had trouble getting a fix.
Not a member yet? Follow these steps to apply for First Tech FCU membership. Otherwise, skip ahead.
You will need four basic pieces of information to complete an application:
Already a member? Here’s how to apply for a personal loan:
First Tech FCU will verify your identity and process your application. It should be in contact with you to finalize any details. Write down your reference number to keep track of your loan status while it's being processed.
Your first payment is due 45 days after your loan shows up in your First Tech account. To save the time and mental space it takes to make manual payments each month, consider signing up for autopay.
Regularly check in on your account and your loan balance to make sure everything is going smoothly. If you notice a problem, reach out to First Tech FCU's customer service line as soon as possible by calling 855-855-8805.
First Tech FCU was founded in 1952 by Tektronix. Like its name implies, it strives to serve those in tech-based industries. And it's always been focused about the future — using computers for online data processing as early as 1976 and ATMs in 1979.
This commitment has driven its partnerships. Microsoft joined in 1992, and in 1995, it was the second financial institution to have a secure website for online transactions. It also serves employees of Agilent Technologies, Amazon and Cisco. With a mind for innovation, it's a good choice for those involved in tech industries.
Not sure First Tech FCU is right for you? Check out our personal loan guide to compare more lenders.
No, First Tech FCU requires all membership and personal loan applicants to lift any freezes on reporting to credit bureaus.
No, First Tech FCU membership is available to residents of all 50 states as long as they meet one of its eligibility requirements.
Image source: Shutterstock and firsttechfed.com
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