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Online Banking

How credit unions differ from banks

Credit unions are similar to banks; we accept deposits, make loans, and provide an array of other financial services. So, what makes us different?

Credit unions are not-for-profit cooperatives. When you open an account, you become a member—and an owner. Unlike for-profit financial institutions that must pay stockholders, we return benefits back to you, the member. That means you pay lower fees, and get lower interest rates on your loans and credit cards.

 

  Credit Unions (CU) Banks
Business Structure Not-for-profit, financial cooperative that is owned by its members; has volunteer board members For-profit financial company with paid board members
Eligibility CU membership is granted to groups of people based on an affiliation with an organization, or based on where a person lives or works Everyone
Access CUs partner to give you access to one of the largest branch and ATM networks nationwide Branch and ATM networks vary
Fees, Incentives, and Rates CUs typically offer lower fees and loan rates, and higher deposit rates Often charge higher fees and loan rates, and pay lower deposit rates

Why First Tech

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Over half a century ago, a group of Hewlett Packard and Tektronix employees came together to found what is now known as First Tech Federal Credit Union. They shared a common vision: to strengthen people’s financial futures. Today, with more than 500,000 members, First Tech is one of the top 10 credit unions in the U.S. (based on asset size).

  • First Tech offers a full suite of products and services, including checking accounts, home loans, credit cards, insurance1, and investment management2
     
  • Deposits are federally insured up to at least $250,000 by the NCUA
     
  • You can bank with First Tech in all 50 states through the CO-OP Shared Branch and ATM network
     

Join Us

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The first step is opening a Membership Savings Open your account

1Insurance products and services offered through First Tech Insurance Services, a wholly owned subsidiary of First Tech Federal Credit Union.

2Registered address: 1011 Sunset Blvd. Rocklin, CA 95765 | 855.744.8585

Financial Advisors offer securities through Raymond James Financial Services, Inc. Member FINRA/SIPC and securities are not insured by credit union insurance, the NCUA or any other government agency, are not deposits or obligations of the credit union, are not guaranteed by the credit union, and are subject to risks, including the possible loss of principal. First Tech Federal Credit Union and Addison Avenue Investment Services are not registered broker/dealers and are independent of Raymond James Financial Services. Investment advisory services offered through Raymond James Financial Services Advisors, Inc.

Raymond James Financial Advisors may only conduct business with residents of the states and/or jurisdictions for which they are properly registered. Therefore, a response to a request for information may be delayed. Please note that not all of the investments and services mentioned are available in every state. Investors outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this site. Contact your local Raymond James office for information and availability.

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