First Tech Federal Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | January 14, 1952 |
| Founder | Seven employees of Tektronix |
| Headquarters | Hillsboro, Oregon , United States |
Area served | California, Colorado, Oregon, Washington, and four other states |
Key people | Greg Mitchell (CEO as of 2016) |
| Products | Banking, investment, insurance, tax-related services |
| Website | firsttechfed |
First Tech Federal Credit Union (commonly known as First Tech) is a federally chartered credit union based in Hillsboro, Oregon. It is overseen by the National Credit Union Administration (NCUA) and serves a membership exceeding 700,000 individuals, managing assets valued at over $17 billion. The credit union operates 36 branch locations, primarily situated within prominent technology centers across California, Colorado, Oregon, Washington, along with four other states.
Recognized as a frontrunner in financial innovation, First Tech was among the earliest to introduce telephone-based interactive voice response systems and online banking services, establishing its reputation as a leader in financial technology.
History
Originally established on January 14, 1952, by seven employees of Tektronix, the institution was initially named Tektronix Federal Credit Union. It was renamed in 1961 to Tektronix Employees Federal Credit Union to better represent its member base. From its inception, the credit union prioritized technological advancement, adopting the slogan "Think Forward." By 1976, it had integrated online data processing systems and introduced automated teller machines (ATMs) by 1979. The launch of "Call 24" in 1985 provided members with phone-accessible account services.
In 1986, the organization rebranded as First Technology Credit Union and broadened its membership to include employees from technology companies throughout the Pacific Northwest. Microsoft became affiliated with the credit union in 1992. The 1995 debut of its website marked it as only the second financial institution worldwide to offer secure transactions via the internet. In 1997, the name was abbreviated to First Tech Credit Union. Subsequent technological advancements included the rollout of mobile banking in 2000, account aggregation features in 2001, and biometric two-factor authentication introduced in 2007. By that year, First Tech served more than 156,000 members and held assets surpassing $1.8 billion, ranking it among the largest state-chartered credit unions in the Pacific Northwest.
In March 2010, First Tech announced plans to merge with Addison Avenue Federal Credit Union of California—originally established as Hewlett-Packard Credit Union—which also catered to employees of Agilent Technologies and CH2M Hill. Following approval by regulatory authorities and member votes, this merger was finalized on January 1, 2011, with the combined entity retaining the First Tech Federal Credit Union name.
In 2018, the credit union relocated its headquarters to a LEED Gold certified facility in Hillsboro, Oregon. This building is distinguished for being one of the largest cross-laminated timber (CLT) constructions globally at that time.
Most recently, in September 2024, First Tech revealed intentions to merge with Digital Federal Credit Union (DCU) through a merger of equals. The consolidated organization will adopt DCU’s charter while continuing under the First Tech name, subject to NCUA regulatory approval. The integration is anticipated to conclude by late 2025, resulting in the creation of the sixth-largest credit union in the United States by asset size and establishing a coast-to-coast branch network.
Online banking transition
In 2014, First Tech revealed its intention to upgrade both its desktop and mobile banking platforms while also partnering with a new bill payment service provider. Starting in October 2015, the Credit Union initiated the rollout of updates to its online and ebilling systems, progressively migrating members to the updated platform to ensure minimal service interruptions. In March 2016, CEO Greg Mitchell addressed members directly to discuss the difficulties encountered during this transition.
Services
Beyond traditional banking offerings, First Tech delivers investment, insurance, and tax-related services. Members benefit from complimentary bill payment, account aggregation features, and access to online check images. The Credit Union’s ABA routing number is 321180379.