First Technology FCU Membership Account

First Technology FCU Membership Account Review

First Technology FCU Membership Account is offered by First Tech, a credit union founded in 1952 and based in San Jose, CA. First Technology FCU Membership Account are available in 50 states (and Washington, DC).

Key Takeaways

• Low interest rate. The maximum annual percentage yield for this account is only 0.05%.
• $0 monthly fee. This account does not charge any monthly account fees as long as you keep a minimum balance of $5.
• Small minimum initial deposit. You only need $5 to open an account.
• No ATM fees. First Technology FCU Membership Account does not charge fees on ATM transactions.

First Technology FCU Membership Account Pros & Cons

Pros	Cons
Available in all 50 states. Dividend-yielding account. Insured by NCUA. Access to physical branches.	No signup bonus. Does not come with a debit card Higher than average wire transfer fees.

First Technology FCU Membership Account FAQ

Are savings accounts from First Tech Federal Credit Union federally insured?

Yes, your savings accounts are insured up to $250,000 per share owner for each account ownership category. The National Credit Union Administration (NCUA), a federal agency, administers the insurance fund and regulates federally insured credit unions. The fund is backed by the full faith and credit of the U.S. Government.

Does First Tech Federal Credit Union offer a signup bonus?

First Technology FCU Membership Account doesn't offer a signup bonus.

What is the minimum initial deposit for First Technology FCU Membership Account?

The minimum deposit to open a First Technology FCU Membership Account is $5.

First Technology FCU Membership Account Minimums

Description
Minimum Balance to Avoid Monthly Fee	Starting at $5
Minimum Opening Deposit	Starting at $5
Minimum Required Balance	$5

What APY does First Technology FCU Membership Account offer?

First Technology FCU Membership Account offers an APY of 0.05% (APY stands for annual percentage yield, rates may change).

The interest rate on a savings account or checking account can change based, in part, on what the Federal Reserve does. Note that the APY of a savings account is the amount of interest you will earn if you keep your money in the account for a full year expressed as a percentage. The difference between an APY and an interest rate is that the APY takes into account how often your money earns interest (or compounds). The more often your money compounds, the more it will earn. Savings accounts with an interest rate that compounds daily, for example, will earn a higher return (and therefore a higher APY) than savings accounts that compound annually.

What fees does First Technology FCU Membership Account charge?

First Technology FCU Membership Account does not charge a monthly service fee. See the fee breakdown section below to view all fees.

However, you can waive the monthly fees if you have a minimum daily balance of $5.

• Outgoing domestic bank transfers come with a $15 fee.
• Outgoing international bank transfers come with a $40 fee. You can save a ton of money in fees if you use use a nonbank money transfer service.

What features and perks does First Technology FCU Membership Account offer?

This savings account includes the following features:

• Fraud monitoring - First Technology FCU Membership Account monitors transactions for potentially fraudulent activity, such as when a debit card is unexpectedly used in a different location, or you make a sudden string of costly purchases.
• Free Online Bill Pay - Online Bill Pay allows you to pay bills easily from your account.
• Mobile Banking Services - First Technology FCU Membership Account allows you to manage your money online or with a mobile app. This includes depositing checks in your account with a mobile app on your smartphone.
• Nationwide ATM network - Conveniently transact at a nearby ATM.

Can you set up a direct deposit to First Technology FCU Membership Account?

Yes, you can typically set up a direct deposit to this account. However, it depends on the direct deposit program your employer uses. Most direct deposit programs allow you to send your paycheck to a savings or checking account. In some cases, you can even split your paycheck between the two.