COVID-19 updates and how First Tech is responding.  Learn more >>

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First Tech Financial Care

Support for our community in challenging times 

 

Emergency Assistance Program
First Tech offers a special program to aid members that are experiencing financial hardship. We want you to know you’re supported, no matter what life throws your way. Please see the FAQs below for important information about loan modifications. If you’re interested in modifying your First Tech loan, please complete the form. Requests for mortgage modifications will require a conversation with a First Tech representative, all other loan requests will be processed assuming you meet qualifications of the program. 

Loan modification request form


Consumer loan modification FAQs (Non-mortgage)

Due to a high volume of requests, we will review and process your request within 10 business days. Rest assured, we will review your request in the order it is received and contact you if any more information is needed. Mortgage loan modifications will require a conversation with a First Tech representative and we’ll reach out to you for this discussion. Thanks for your patience. 
To apply for an Emergency Loan, please log in to online banking and navigate to Apply. There, you’ll see the Emergency Loan application in the menu of products to select. 
Yes, if you’ve experienced challenges related to the virus including those brought on by job loss, temporary unemployment, reduced income or similar, please complete the form. 
Yes, as the borrower you are still responsible for interest while the loan is current.
Yes, if you accept a loan modification that “skips a payment” that payment will be added to the end of your term.
A First Tech representative will reach out to you regarding your mortgage loan(s). If your request if for another type of loan and you qualify for the program this will be processed within 12 business days. If a modification happens, you will receive a letter in the mail asking for your signature and to return the document in a postage paid envelope.
First Tech will evaluate the program regularly and adjust as support for members is needed. 
We’re evaluating the needs of members and if additional modifications are required on the same accounts we’ll reach out to those who have already made a request. 
No, if your request for assistance was submit after March 1st and processing time resulted in a late charge, First Tech will waive this fee.
No, any 30 day credit marks resulting from processing delays will be corrected.
In the loan account transaction history you’ll see an entry labeled “Skipped Payment for Receivable”. In the Details tab of the loan you can see the next payment due date. 
 

Mortgage loan modification FAQs

Due to a high volume of requests, we will review your request and reach out within 17 business days. Rest assured, we will review your request in the order it is received. Mortgage loan modifications will require a conversation with a First Tech representative so we’ll contact you to discuss your situation. Thanks for your patience. 
A forbearance plan is an agreement that allows borrowers experiencing a temporary hardship to make a reduced mortgage payment or no mortgage payment at all during the plan’s term. Under this forbearance plan, First Tech can suspended your monthly mortgage payment obligation for up to 6 months.  
We will not pursue foreclosure during the forbearance plan term. However, the terms of your mortgage remain unchanged. By not making your mortgage payments during the plan’s term you will be considered delinquent. For more information on mortgage forbearance, please see the Consumer Financial Protection Bureau’s website.
We will not be reporting the delinquency status or the entry into a forbearance plan to credit reporting agencies during the term of the forbearance plan. However, credit reporting agencies will view the lack of reporting during the term and may consider this an increased credit risk. We are uncertain as to the impact on your credit score, particularly if you are current on your mortgage or otherwise in good standing.
We will not be assessing late chargers due to the delinquency status while you are participating in the forbearance plan. 
  

Loan modification request form

 

Emergency Loans
First Tech also offers Emergency Loans for members in special situations such as a natural disaster or a regional emergency. Current rate and terms are below. Applicant must be a current member of First Tech to be eligible. To apply for an Emergency Loan, log in to Online Banking and on the left side navigation you’ll see More. Click that then go to Apply. Open the Personal Loan section and you’ll see a button for the Emergency Loan.

Emergency Loan Overview

Annual Percentage RateAPR = Annual Percentage Rate. All loans are subject to credit approval. Credit Union membership is required and subject to approval. Interest rate and program terms are subject to change. Additional restrictions may apply. Loan Amount (min/max) Loan Term
3.25% APR $500/$10,000 6 to 36 months


Emergency Loan payment calculator

Additional measures to support members 

  • Reimbursement of all out-of-network ATM fees  – First Tech members can access money from over 300,000 non-First Tech ATMs across the country and not incur fees through May 2020.
  • Dividend Rewards Checking account requirements waived – Members that qualified for the higher rate on their Dividend Rewards Checking account in January or February of 2020 will not be required to meet the requirements in March, April or May of 2020.
  • Fee suspension – late fees, cash advance fees and returned check fees will be waived if they occur between May 1 and June 30, 2020. This applies to all consumer loans offered by First Tech including student refi, auto, credit card, personal and recreational loans. You will not need to request a fee waiver. Interest will still accrue during this time and credit reporting occurs as normal.
  • Skip payment or mortgage forbearance – Some members may qualify to skip payments on consumer loans or participate in mortgage forbearance. See the FAQs above and complete the request form on this page if you wish to be considered.
     

First Tech/SBA Payment Protection Program

On April 8, 2020 First Technology Federal Credit Union (First Tech) became authorized as lender to participate in the United States Small Business Administration’s (SBA) guaranteed loan Paycheck Protection Program (PPP). We have created a resource page and inquiry form for members who wish to participate in the PPP. 

Financial Fundamentals

We’re here to help you think about today and the current environment, but also help strengthen your financial standing for the future. If you’re looking to learn some good money habits—or need help with money management—view our videos on the Financial Fundamentals webpage.  

 

Taking care of the people that take care of you
COVID-19 is changing the way we live and work and we do not want this virus to affect the financial well-being of our employees. We’ve implemented a number of pay programs for our employees serving you in our branches or at our corporate locations during this unprecedented situation. 

Additionally, we’re limiting the number of members allowed at one time into our locations and adhering to all CDC social distancing guidelines. Rest assured, all employees will continue to support our members, either behind the scenes or from another branch location.  

 

Support for the community
Our community partners are experiencing increased demand for their services at a time when some of their funders and volunteers are unable to support in these unusual circumstances. To ensure their continued commitment to our communities we’re providing the following support:

We are immediately contributing $50,000 to our hunger partners in Washington, Oregon and California to help feed families and individuals in need. We are in contact with our partners across our footprint and are continuing our grant making programs, and working with communities to identify critical needs. If you are an existing First Tech partner and have a question about support, please reach out to your Community team contact.

We’ve empowered our employees to give back even more during these times. Employees are able to use their 16 paid volunteer hours to support neighbors in need, observing public health guidelines and safety measures, grocery shopping for seniors and reading with children home from school using teleconferencing solutions. We’re also increasing our matching gifts and have activated a 2:1 match for employee giving, up to $1,000 per employee, to food banks, shelters, hospitals, and other critical service nonprofits.

 

 

For information about how First Tech is responding to the pandemic please visit our COVID-19 Updates page.