Founded in 1952, First Tech Credit Union is a federal credit union that provides financial services to tech giants like Amazon and Microsoft and their employees. First Tech offers a variety of financial products, including personal loans, credit cards and home loans.
You can use a First Tech Credit Union personal loan for various purposes, such as debt consolidation, wedding expenses or vacations. Loan terms range from six months to seven years, and you can borrow as little as $500.
First Tech offers multiple types of personal loans. You can choose an unsecured personal loan or from three secured loan options: savings-secured, certificate-secured and stock-secured.
Wide range of loan amounts available
First Tech personal loan amounts for secured or unsecured loans start at just $500 — which may be helpful if you need a small personal loan for something like a minor car repair or other unexpected expense.
But much larger loans are available, too. The maximum amount for an unsecured personal loan is $50,000, and $1 million for a stock-secured personal loan. Certificate- and savings-secured loans top out at $500,000.
Before you submit a loan application, you must become a First Tech member. You can qualify if …
If none of these options apply, First Tech says you should call or stop by a branch to discuss your situation with a representative.
If you’re interested in a First Tech Credit Union personal loan, here are more details to keep in mind.
First Tech could be a solid loan option for existing members or people who can become a member. First Tech doesn’t charge application fees, origination fees or penalty fees for early loan payoff, which helps minimize borrowing costs. And First Tech’s starting APRs — which are listed on its website — are competitive.
People looking to borrow larger amounts of money might appreciate First Tech’s higher loan maximums, topping out at $50,000 for unsecured loans and secured loans of up to $500,000 or $1 million. But keep in mind that a secured loan requires you to put up collateral — such as stock or savings accounts — which can be taken by the lender if you don’t pay the loan back as promised.
You can start the loan application process by checking your estimated rate online. First Tech Credit Union will ask you to provide personal information, such as your …
If you prequalify and want to proceed, you’ll then complete a loan application, agree to a hard credit check and provide additional information, such as your gross annual income and monthly housing payment. First Tech will then make a final decision on approval and terms of the loan.
You can also apply for a personal loan over the phone by contacting customer support. To check the status of your First Tech loan application, you can reach out to a customer service rep by phone or email.
*Approval Odds are not a guarantee of approval. Credit Karma determines Approval Odds by comparing your credit profile to other Credit Karma members who were approved for the personal loan, or whether you meet certain criteria determined by the lender. Of course, there’s no such thing as a sure thing, but knowing your Approval Odds may help you narrow down your choices. For example, you may not be approved because you don’t meet the lender’s “ability to pay standard” after they verify your income and employment; or, you already have the maximum number of accounts with that specific lender.
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