First Tech Personal Loan Review
- APR
- 6.99% to 18.00%
- Eligibility and access: 3/5
- Cost to borrow: 4.1/5
- Loan terms and options: 5/5
- Repayment support and tools: 5/5
- Must join the credit union: As with any other credit union, you have to become a member of First Tech before you can apply for a loan. There are ways to qualify for membership based on where you work or live — but if you aren’t eligible that way, you can become a member by joining a partner organization instead.
- Competitive rates: First Tech’s personal loans come with competitive rates. Even if you just barely qualify, you might get a lower rate than what many online lenders can offer.
- Accepts collateral: You can use your savings or share certificate account as collateral to qualify for a loan or a lower rate. For reference, a share certificate is a credit union’s equivalent of a certificate of deposit (CD) account.
- Fair-credit friendly: You don’t necessarily need perfect credit to qualify for a loan through First Tech. To boost your approval odds, however, consider including a co-borrower and opt for a joint loan.
- Merger with Digital Federal Credit Union (DCU): First Tech and DCU officially merged in January 2026 with the goal of expanding service. Eventually, DCU will operate under the First Tech name.
- Available in all 50 states, but few brick-and-mortar locations: First Tech does business nationwide, but there are currently branches in only eight states. You may need to handle your banking online, through First Tech’s mobile app or at a CO-OP shared branch.
- Best if you have less-than-perfect-credit and want to join a credit union: You have to become a First Tech member to get a loan, but membership may be worth it. First Tech is open to working with borrowers with fair credit, and its rates are capped at 18.00%.
First Tech Federal Credit Union pros and cons
Unless you refinance your personal loan or pay off your loan early, you could be stuck with your lender for years. Review the pros and cons of First Tech before signing on the dotted line.
Pros
- Competitive rates
- Loans start at $500, which could help you avoid borrowing more than you need
- Free consultations with banking experts to discuss your personal finance goals
- Same-day funding is possible
Cons
- Must become a member of the credit union to get a loan (but it’s relatively easy to join)
- Might not qualify if you have bad credit (adding a co-signer or offering collateral can help)
- Not as many membership perks compared to other credit unions
- Late payment fees are not disclosed
First Tech is a federal credit union, and per law, federal credit unions can’t charge rates above 18.00%. As a result, credit union personal loans tend to have low rates, and First Tech is no exception.
First Tech does business primarily online, but it has brick-and-mortar branches in eight states. It also partners with about 5,600 credit union branches across the country through the CO-OP network. These shared branches handle First Tech accounts even if they aren’t First Tech credit union branches.
Outside of low rates, credit unions typically come with exclusive benefits for their members. First Tech’s are a little sparse. First Tech member benefits tend to be tied to First Tech financial products. PenFed Credit Union, on the other hand, offers discounts on tax software, rental cars, insurance and more.
First Tech Federal Credit Union personal loan requirements
You have to first become a credit union member to qualify for a personal loan from First Tech. Then, you must meet First Tech’s borrower requirements.
| Minimum credit score | Not specified |
| Required documents |
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| Ways to qualify for First Tech membership |
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Popular reasons to get a personal loan include debt consolidation, major purchases, weddings and events, home improvements and emergencies. Unlike some lenders, First Tech also allows borrowers to invest your personal loan funds. However, you cannot use the money to pay for school or fund a business.
If First Tech Federal Credit Union’s loan options won’t work for your borrowing needs, be sure to shop around for a lender that helps you meet your financial goals and can offer you the best-fitting rates, terms and amounts.
How to get a personal loan with First Tech Federal Credit Union
First Tech lets you apply for membership and your personal loan in one step, from the comfort of your home. Here’s how to do it.
Prequalify for a personal loan
Check your rates without hurting your credit score by prequalifying for a personal loan on First Tech’s website. Your offer might change if you continue on to a full application. Still, prequalifying can give you an idea of whether or not you’re eligible for a First Tech personal loan.
Fill out a loan application
You can formally apply for a loan online, at a branch or over the phone. You don’t need to be a current member to apply. You’ll provide personal information and details about your finances.
You will need to become a First Tech member to actually take out a loan. If you don’t currently meet its membership requirements, you can join a partner organization to qualify.
Wait for approval, sign your loan documents and get your loan
Some applicants get an approval decision a few minutes after applying, but most are approved one business day.
If First Tech approves you, you’ll sign your loan documents electronically. These documents will tell you when your loan payments are due and other important details.
How First Tech compares to other personal loan companies
Even if you believe First Tech Federal Credit Union aligns with what you’re looking for in a personal loan, it never hurts to shop around and compare other lenders. Here’s how First Tech stacks up against similar personal loan lenders.
| Lender | First Tech Federal Credit Union | Best Egg | Upstart |
|---|---|---|---|
| LendingTree’s rating | 4.1/5 | 4.4/5 | 4.4/5 |
| Minimum credit score | Not specified | 620 | None |
| Annual percentage rates (APRs) | 6.99% – 18.00% | 6.99% – 35.99% | 6.20% – 35.99% |
| Loan amount | $500 to $50,000 | $2,000 to $50,000 | $1,000 to $75,000 |
| Repayment terms | 6 to 84 months | 36 to 60 months | 36 or 60 months |
| Origination fee | None | 0.99% – 9.99% | Varies |
| Funding timeline | May receive funds as soon as the same day. | May receive funds as soon as the next business day. | May receive funds as soon as one business day. |
| Bottom line | First Tech has the lowest maximum APR, so you could get a great rate even with fair credit. | Best Egg could be a comparable choice if you have excellent credit, though its borrowing amounts and terms are more limited. | Upstart offers the lowest minimum APR for those with excellent credit, and the highest loan amounts. |
How we rated First Tech
We evaluate personal loan lenders on more than just interest rates. Our goal is to show how accessible, affordable, transparent and supportive each lender really is.
Our categories
Every lender is scored out of 5 stars, with 5 stars being the highest rating. LendingTree loan experts determine this score using dozens of underlying data points across four weighted categories covering the full borrowing journey.
We assess how easy it is for people to qualify and apply. This includes state availability, soft-credit prequalification, membership requirements, funding speed and whether borrowers with less-than-excellent credit can get a loan.
We evaluate how affordable the loans are based on minimum and maximum APRs, loan fees and rate discounts. Lenders with unclear or potentially predatory costs receive lower scores.
We consider repayment term flexibility, loan amount ranges and whether options like secured loans, joint loans or direct-to-creditor payments are offered — plus whether the lender clearly communicates these options.
We evaluate borrower experience after funding: customer service access, hardship or forbearance programs, payment flexibility and digital tools like mobile apps or credit monitoring.
Our process
We gather data directly from lenders through their websites, disclosures and direct communication with company representatives. Our editorial team verifies and updates information regularly. We value transparency and award less favorable scores when lenders obscure or omit details.
In some cases, our editors may apply a small adjustment (no more than 4% of the overall score) to account for factors not captured by the methodology. This could include J.D. Power customer satisfaction surveys, recent regulatory actions or features that stand out in ways our rubric doesn’t measure directly.
Our editorial team applies the same scoring model and standards to every lender. Lenders cannot pay to influence our ratings.
Frequently asked questions
Yes, First Tech is a federal credit union that was originally founded in 1952. First Tech merged with DCU in early 2026, but is maintaining its name throughout the process.
First Tech doesn’t specify its exact credit score requirements. You might qualify with bad credit, but you may need to add a creditworthy co-borrower or use a First Tech savings account as collateral.
First Tech approves some loans moments after you apply, and most within a business day. But if your credit score is on the low side or you’re applying to borrow a larger amount, it might take longer to find out if you’re approved.
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