The credit union was founded as Tektronix Federal Credit Union, formed by seven Tektronix employees on January 14, 1952. In 1961, the name was changed to Tektronix Employees Federal Credit Union to reflect the credit union's membership. From very early on, technical innovation was emphasized and reflected in First Tech's motto of "Think Forward". As early as 1976, the credit union began using computers for online data processing. By 1979, Tektronix Employees Federal Credit Union had begun the use of ATMs. In 1985, the credit union unveiled "Call 24", which allowed members to check balances and transfer funds by phone. In 1986, the name was changed to First Technology Credit Union and the membership was opened to include employees in technology industries of the Pacific Northwest. In 1989, First Technology Credit Union developed and implemented the first online banking. In 1992, Microsoft became involved. The 1995 launch of the company's website paved the way for the credit union to become the second financial institution in the world to perform secure internet transactions. In 1997, the name was shortened to First Tech Credit Union. First Tech began offering mobile banking in 2000, account aggregationin 2001, and biometrictwo-factor authentication in 2007. With over 156,000 members, and over 1.8 billion dollars in assets in 2007, First Tech was one of the largest state chartered credit unions in the Pacific Northwest. In March 2010, the company announced it would merge with California-based Addison Avenue Federal Credit Union, which served the employees of Hewlett Packard Company, Agilent Technologies, CH2M Hill, and various other technology based companies, pending government and member approval. The deal was approved by the government and credit union members, and became effective on January 1, 2011, with the new entity named First Tech Federal Credit Union.
First Tech announced, in 2014, their decision to replace existing desktop and mobile banking platform while also converting members to a new bill payments provider. In October 2015, the Credit Union implemented initial changes to their online and ebilling system and began converting members. The transition incrementally converts groups of members to the new platform over an extended period to ensure minimal disruption. CEO Greg Mitchell addresses members' challenges in an email to the Credit Union's members on 3/8/2016.
Products
Besides standard banking services, First Tech also offers investment, insurance, and tax services to its members, including free bill payment service, an account aggregation service, and online access to check images. The union's designated ABA routing transit number is 321180379.
