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First Tech and Digital Federal Credit Union Receive NCUA Regulatory Approval

 

More benefits and services

The combined credit union will provide members an unrivaled digital experience, a coast-to-coast branch network with expanded member service hours, and access to premier financial products and advisors.
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A letter from our CEO

Dear Valued Member,

I’m pleased to share some history-making news with you. First Tech has officially received approval from our governing body, the National Credit Union Administration (NCUA), to move forward with our planned merger with DCU (Digital Federal Credit Union). This milestone marks a transformative moment for both organizations and for the credit union community. Together, we’re laying the foundation for a future that allows us to better serve you, our members, through greater investment in the resources, services, and support you rely on.

Have Your Voice Heard

This approval from the NCUA is an important step forward. Now, we’re asking you and your 700,000 fellow First Tech members to vote on whether we move ahead with the merger. As a member-owned cooperative, your voice is essential in shaping our future. If approved, First Tech will retain its name and adopt DCU’s credit union charter, opening up new opportunities to serve you and millions of other tech employees who have yet to experience First Tech. DCU members will not vote, so this decision rests with you.

Member Benefits & What To Expect

Before voting, we want to assure you that your experience with First Tech will remain strong and positive. Over the next year, you can expect little to no disruption in your banking experience. You’ll continue to enjoy the same trusted service, while gaining access to expanded branch locations, extended service hours, enhanced technologies, and a broader range of financial products.

Most importantly, this merger will allow us to invest more deeply in the things that matter most to you, innovative products, personalized service, and community impact. We’ll be able to dedicate more resources to research and development, member support, and philanthropic efforts, including over $4 million annually to improve lives in our communities.

Voting Next Steps & Member Townhall Opportunities 

Your voice matters, and your vote is essential to making this vision a reality. Over the next few weeks, you’ll receive a notice and a ballot via email or mail, depending on your mailing preferences. Within it, you’ll find all the information you need to vote over the next few months. You can also review the frequently asked questions below. We’re also offering a number of opportunities for you to ask me and my fellow executives questions about the merger so you can make an informed decision with your vote. Consider attending a Member Town Hall where you can join virtually to ask questions about the merger: 

We’ll also be holding a Special Membership Meeting on Monday, December 8, at 4pm PT, where you’re welcome to join us in person at our Hillsboro Corporate office or virtually to cast your vote live and ask questions about the merger. Stay tuned for more details on our Special Membership Meeting. 

We’re incredibly proud of this moment and grateful for your continued trust and support. Together, we’re building an extraordinary credit union that will be here for generations to come to serve you and your families. 

The best is yet to come!
Greg Mitchell
President & CEO, First Tech Federal Credit Union

 

Frequently asked questions

With the unanimous support of our Boards of Directors and Executive Teams, on Sept. 30, 2024, both organizations officially announced our intent to merge into one entity (Merger). We also received regulatory approval on Sept. 29, 2025, from the National Credit Union Administration (NCUA), the federal agency regulating both entities. We will now turn to First Tech’s members for a final vote to approve the merger with DCU. 

After a positive vote from our membership and close of the Merger, we’ll begin the process of integrating our two organizations, with an anticipated integration date in late 2026. Until this operational integration, each of First Tech and DCU will continue day-to-day operations as separate divisions of a single legal entity under the assumed business names of First Tech Federal Credit Union and Digital Federal Credit Union with no immediate impact on servicing member accounts or relationships.

 

 
Our regulator, the National Credit Union Administration (NCUA), approved the Merger to move forward based on an application we submitted in 2024. With their approval, we are moving forward with a vote of the First Tech membership to fully approve of the merger with Digital Federal Credit Union (DCU).
Both DCU and First Tech are federally insured credit unions through the National Credit Union Share Insurance Fund (NCUSIF). Until member approval and close of the Merger, there will be no changes to the share insurance coverage of First Tech or DCU member share accounts. Once the credit unions have combined, each member of the combined credit union will have up to $250,000 in share insurance coverage across all accounts through the NCUSIF. This means that for individuals who hold memberships and accounts at both First Tech and DCU prior to the close of the Merger, their accounts will be held by a single financial institution after the close of the Merger and their total share insurance coverage will be reduced.
Each of our credit unions have federal charters to offer financial services in our service areas, and once we merge into one organization, we only need one federal charter to operate. As we finalized our due diligence, leadership determined that DCU’s charter will be the most advantageous charter to retain, with the charter referred to as the “continuing credit union.” As a result, First Tech will assume DCU’s charter with the First Tech name continuing forward, and regulations ask that First Tech members have the opportunity to vote on this change. 
If you were a member of First Tech as of Sept. 15, 2025, you’ll receive a mailed or emailed notice and ballot, depending on your mailing preferences, within the next few weeks. 
The voting period will begin in late October 2025, and will end with our Special Membership Meeting on Monday, Dec. 8, 2025 at 4:30pm PT. In the weeks to come, you’ll receive information on how to register to attend the Special Membership Meeting in-person or virtually.

You’re invited to join our upcoming Member Town Halls! During these town halls, you’ll have an opportunity to learn about the merger with DCU and next steps. All First Tech members are welcome to attend the upcoming virtual Member Town Halls. There will be two sessions on the following dates:

First Tech President & CEO Greg Mitchell and other First Tech executives will be there to answer your questions to ensure you’re making an informed decision with your vote. 

Chartered by the NCUA in 1979, and originally created to serve employees of Digital Equipment Corporation, DCU is based in Marlborough, Massachusetts. DCU proudly serves more than 1.1 million members with 23 branches in both New Hampshire and Massachusetts. DCU is the largest credit union in New England and ranks among the top 20 credit unions in the nation as measured by $12 billion in assets. You can learn more about DCU online.
As part of our strategic planning process, the Board of Directors and executive leadership teams continuously monitor economic conditions and look for opportunities in the marketplace for strategic growth. With our shared mission of serving tech employees, and a deep respect for DCU's decades-long legacy of serving members in New England, it's opportunistic to join together to thoughtfully accelerate delivering on our mission.
There are many benefits of this merger! First Tech and DCU are two of the strongest credit unions in the country, and the combined organization will continue to have very strong capital and loan-to-deposit ratios, ensuring members’ savings are safe and secure. The new organization will be a powerhouse with the scale and resources to create even greater impact through the annual reinvestment into research and development, accelerating and simplifying technology, transforming digital experiences and efforts to sustain our long-term relevancy. We’ll have an expanded presence which almost doubles our branch network, extending service hours and providing a broad platform to serve a growing number of members and their families.
This is a merger of like-minded organizations for the mutual benefit of our members, employees and communities. Our credit unions have a shared origin, each created to serve the financial needs of technology employees and their families through reinvestment and innovation. While First Tech is larger in asset size at $17B, DCU brings more than 1.1 million new members to the organization, creating vast opportunities for innovation and growth. The new organization will have about $28.7B in assets, one of the largest credit unions in the country, serving more than two million members with 54 branches in eight states. The Merger will bring together the best of both credit unions.
Yes, that’s what makes uniting the two organizations such a strategic value position! Both institutions are well capitalized, far exceeding regulatory standards, have strong liquidity and maintain a balanced loan-to-deposit ratio. These factors, in addition to operating in a safe and sound manner, set the stage for a very strong combined entity—one that will have the resources and scale to deliver value to our membership for years to come.
Yes, we do! DCU was also founded on the premise of people helping people, with employees coming to work every day to make a difference in the lives of members by doing the right thing and acting with integrity—much the same way First Tech shows up as engaged, dynamic and genuine. DCU is also deeply committed to the community, also donating more than $2 million annually, and shares our goal of fostering a brighter, more equitable future in the communities where we live and work.
News of any change will undoubtedly raise questions, and both organizations are committed to progress updates for members at key points along the way. Members have an important voice—and final say—in this merger, so there will be plenty of opportunity to learn more about this strategic combination and the benefits to members and employees. The process of integrating the operations of organizations will begin with an anticipated operational integration in late 2026.
The name of the combined credit union will be First Technology Federal Credit Union, or First Tech for short. After researching affinity for our brands in our regions and nationwide, both respected brands had strong brand awareness. Leadership jointly determined that retaining the First Tech brand name, and the federal charter of DCU offers the greatest possibilities going forward. Prior to uniting under the First Tech name in 2026, both organizations will engage members and employees in collaboration to define a shared brand experience that reflects and celebrates the culture and heritage of both credit unions.
Leadership teams continue to partner very well on mutual decisions to ensure the best interests of both organizations and their respective membership. The only organizational decision made to date is that current DCU President and CEO Shruti Miyashiro will become CEO of the newly combined credit union, uniting employees, and members under the DCU charter and First Tech Federal Credit Union name. First Tech President and CEO Greg Mitchell is expected to retire on, or shortly after, the close of the Merger.
Shruti has a deeply rooted passion for strategic thinking and building long-term, sustainable business models focused on delivering transformative value for members, employees, and communities. For more than two decades as an executive leader in the financial services industry, she has led complex businesses in fast-paced environments with an authentic leadership style that prioritizes culture, service excellence, member-centric focus, and innovation. Under her leadership, DCU has been regularly recognized with multiple awards, including “America’s Best Credit Union in Massachusetts” by Forbes, “Best for Small Deposits” by Newsweek, and “Best Credit Unions” in USA Today. Since 2003, Shruti has served on a number of community, non-profit, professional, and corporate boards, including as a current board member for Jack Henry, an S&P 500 technology company.
The combined organization will maintain corporate offices on both coasts, with the headquarters remaining in San Jose, CA. This is very similar to the way First Tech operates today as our formal charter is based in San Jose. Advances in technology have made it easier than ever to conduct business from multiple locations, plus we’ll have extended member service hours due to time differences.
Yes. Addison Avenue Investment Services in partnership with Raymond James will continue as the full-service financial planning and investment services provider for our expanded First Tech membership. In addition, First Tech Insurance Services, our independent insurance agency through our wholly owned subsidiary, will continue as well. Both organizations have received national recognition as leaders in the industry and we’re proud to continue offering these services to our expanded membership.
There are no changes to your accounts with First Tech, Addison Avenue, or First Tech Insurance Services right now. In the months to come, an integration team will make operational decisions to ensure any potential changes result in stronger benefits or enhanced features for you. So that’s good news! At the earliest, any potential change will happen in late 2026 when our operations come together as one combined company. When that time comes, of course our teams will help members and clients through any transition.
That’s fabulous news! You’ll continue with your accounts at First Tech and DCU as you do today. As we approach merging in 2026, we’ll reach out and provide you more information on how we’ll support you through the transition.
It is one of the largest mergers for any credit union and another example of our spirit of innovative partnerships. Yet it’s a very complementary fit for both organizations’ membership. We serve a similar membership, but in different parts of the country. That means we’ll be better able to serve our Select Employer Groups (SEGs) and members across the globe with an expanded branch network and call center hours, not to mention enhanced products and services. The good news is that you’ll still meet the same friendly employees at your local branch, but with expanded resources. Most importantly, we have a way of doing the right thing for our members. That’s the credit union difference, and it’s here to stay.
As we make our way through the integration process, all decisions will carefully consider any impact on employees and will be shared in a transparent and timely manner. At this early stage, there are always more questions than answers, which can be difficult. Our employees are extraordinary, and the intent is to help them through the transition, providing understanding, development opportunities and career growth well into the future.
Most certainly! As a matter of fact, once combined, the new organization will become the single-largest national philanthropic credit union leader in the country, donating more than $4 million to nonprofits each year. We’ll continue to support children’s health, STEM education and fundamental needs in our communities.
We will keep FirstTechFed.com/merger updated with more information about DCU, the merger process—including your membership vote—and timelines. This page will be updated regularly, and you can also expect to receive emails from First Tech about the upcoming member vote. It’s an exciting time for your credit union, so thank you for your support! Of course, if you have any questions, please send an email merger@firsttechfed.com. 
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