Technology Credit Union Review September 2024: A solid credit union with decent rates of returns on limited-time CDs.

Tech CU was formed on May 27, 1960, as the Fairchild Semiconductor Federal Credit Union by Fairchild Camera and Instrument Semiconductor Division employees. In 1983, the credit union changed its name to Technology Federal Credit Union, which was updated again in 1998 to Technology Credit Union or Tech CU. 

The credit union is headquartered in San Jose, California, and operates 10 branch locations in California and one in Austin, Texas. As with many other credit unions, it is part of the Co-op network, allowing you to visit affiliated credit unions nationwide for basic branch services. The credit union also touts over 85,000 branded and affiliated ATMs in its network.

While many membership requirements involve residency, employment, worship, or school attendance requirements in California, anyone nationwide can become a credit union member by joining the Financial Fitness Association.

All rates and fees are current as of September 26, 2024, and are subject to change.

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Tech CU

Checking accounts:	Starting at $0 per month
Savings accounts:	Open with as little as $25
CD rates:	Earn up to 5.00% annual percentage yield (APY)

Pros and Cons

Pros

• Co-op branches nationwide allow for physical access to your accounts outside of California and Texas
• Limited-time CD offers provide solid rates of return
• Family banking allows children access to their own account that parents can monitor and control

Cons

• Co-op branches often provide limited transactions compared to full branches, which are only located in California and Texas
• Checking and savings interest rates are low compared to other credit unions and online banks
• The best CD rates are limited-time product offerings

Who is Tech CU good for?

With the majority of full-service branded branch locations in California, Tech CU is best for residents of the Bay Area who want a credit union for personal banking products and services. However, with the option to use Co-op branches nationwide and an easy path to membership through the Financial Fitness Association, this is also a solid choice for people outside of California and Austin. 

Also, if you are looking for a solid rate of return on certificates of deposit (CDs), Tech CU is offering special rates on five-, 10-, 15-, and 17-month CDs of between 4.75% APY and 5.00% APY. However, these are limited-time offers and renewals on these CDs may be at a lower rate. Finally, the credit union offers student checking and savings accounts as well as family banking for children under 18.

Who shouldn’t use Tech CU?

While Co-op branches are a great way to access your Tech CU account nationwide, they usually have limited types of transactions available compared to a full-service branded branch location. If a full-service branch is important to you, consider finding a local bank or credit union instead. Also, checking and savings rates are low compared to other credit unions and online banks. Be sure to shop around before opening an account. 

Finally, the best CD rates are only on limited-time accounts with four specific maturity terms. Many banks and credit unions allow you to open CDs online, so check rates at other providers before locking money in a CD.

Tech CU rates and products

Technology Credit Union offers its members several free checking account options. Two are standard checking products while the other two are for students and for children under the age of 18. The credit union also offers a savings product, a money market account, and certificates of deposit of multiple maturity lengths. All accounts except the Basic and Family Checking accounts earn interest.

Checking accounts 

Tech CU has four checking account products, including accounts for children and students, all free checking accounts with no monthly maintenance fees. The credit union does not offer a checking account sign-up bonus for new accounts.

Tech CU Basic Checking

The credit union’s basic checking is very basic. There are no monthly fees or minimum balance requirements. It does not earn interest.

Tech CU Interest Checking

The Interest Checking product earns 0.20% APY if you have at least $1,500 in your account. Otherwise, it is the same as the Basic Checking product.

Savings accounts

Tech CU offers a membership savings account. It doesn’t qualify as a high-yield savings account, but it does give you a share in Tech CU when you meet the $25 minimum balance requirement.

Tech CU Membership Savings

This account earns just 0.20% APY, so if you are looking for a high-yield savings account, you may want to consider an alternative banking option. The minimum balance is $25 for this account, which earns you a share of Tech CU. There are no monthly fees on this account.

You are limited to six withdrawals or transfers to another credit union account of yours during a statement period. However, you may make unlimited withdrawals in person, at ATMs, by written request, or by telephone request of a check made payable to you. Excessive transitions may result in the closure of the account.

Tech CU savings rates compared to current top rates*

While Tech CU is a great option, some institutions offer higher interest rates. Compare the rates above to this list of competitors:

Money market account 

Technology Credit Union offers an MMA that earns up to 2.15% APY in a tiered-earning structure. You must have a balance of at least $2,500 to earn dividends. 

Tech CU Money Market Plus Accounts

Interest earnings increase as your balance increases, with rates starting at 0.50% APY on balances between $2,500 and $24,999.99. Balances of $50,000 and up receive a 0.10% APY rate boost with a Tech CU checking account and a minimum direct deposit of $100. However, the direct deposit requirement is waived with a private banking relationship.

The transaction requirements of the Membership Savings account also apply here, with withdrawals or transfers to another credit union account of yours limited to six per statement period. Many credit unions and online banks offer higher rates for MMAs, so check competitors’ rates before opening a new account.

Certificates of deposit

Tech CU offers three types of CDs, each requiring a $1,000 minimum opening deposit. Jumbo versions of the same CDs are available with a minimum $95,000 deposit. With the exception of the Liquid Certificates, standard early withdrawal penalties apply. With the Liquid Certificates, you must keep a minimum of $1,000 in the account, or penalties may also apply. In addition, tax penalties may be assessed for early withdrawals from individual retirement account (IRA) CDs.

Tech CU Certificates

Standard CDs range from three to 60 months in length. Rates generally range from 2.25% APY to 3.65% APY, although special limited-time rates on five-, 10-, 15-, and 17-month CDs range from 4.75% APY to 5.00% APY. The limited-time CDs have rates comparable with the best CD rates on the market.

Tech CU Liquid Certificates

Tech CU offers Liquid CDs, which allow you to add and withdraw money from the CD during the life of the account. There are withdrawal limitations, and you must keep a minimum balance of $1,000 in the account or risk early withdrawal penalties. The $1,000 added to this account must be money new to the credit union.

Tech CU Raise My Rate Certificates

If you open one of these two CDs, you will have the option to raise your rate once during the life of the CD if the current rate is higher than the one you received at account opening.

Other services Tech CU offers 

In addition to its deposit products, Technology Credit Union offers a wide range of other products and services, including:

• Health savings account (HSA): You can open a tax-advantaged account to help cover medical expenses.
• Mortgage loans: Tech CU offers fixed and adjustable-rate mortgages (ARMs), refinancing, accelerator, and jumbo mortgages. It also offers home equity loans and lines of credit. 
• Personal loans: The credit union offers unsecured, fixed-rate, and fixed-term loans, as well as credit lines for personal use. 
• Credit cards: You can choose from three credit card options, with card types including rewards points card, lowest-rate card, and secured credit card.
• Solar loans: For customers wanting to add solar panels to their homes, Tech CU offers solar loans.
• Wealth management: Tech CU offers advanced banking products, including private and tech investment management. 
• Business accounts: The credit union offers a full selection of business products, including checking and savings, lending products, and cash management services.

Online banking

You can access your account information through digital banking products, including online banking and mobile applications. With online banking, you can set up customizable dashboards, use personal financial management and budgeting tools, schedule payments and transfers, and use bill pay to manage regular expenses.

While you cannot use Zelle for peer-to-peer (P2P) payments, you can set up transfers through online banking and use your Tech CU cards via Apple Pay, Google Pay, Samsung Pay, or Venmo to send funds.

The Tech CU platform and customer support 

Tech CU online banking can be accessed via desktop and mobile apps. The mobile apps have decent ratings, earning 4.7 stars out of 5 based on more than 13,000 ratings in the Apple App Store and 4.3 stars out of 5 based on more than 1,900 reviews on the Google Play Store.

To contact customer service, you can stop by a branch location or make an appointment for an in-person or virtual meeting. You can also call toll-free 800-553-0880 Monday through Friday from 8 a.m. to 6 p.m. Pacific or Saturday between 10 a.m. and 2 p.m. Pacific time. You can also get answers through the website’s frequently asked questions section, have the credit union call you via a scheduling form on the website, send a secure message, send a letter via regular mail, or email them at [email protected]. 

Is Tech CU secure?

Technology CU uses standard security measures to keep your information safe. It requires multifactor authentication (MFA) during the login process. It also sends a one-time passcode to a user’s email, or a mobile phone via short message service (SMS) or voice call. Transmissions through the company’s website are encrypted using transport layer security (TLS). 

Deposits with Technology Credit Union are insured up to $250,000 per account per depositor by the National Credit Union Administration (NCUA). 

Tech CU user reviews

Online reviews for Tech CU are very limited, so star ratings are almost meaningless on WalletHub or DepositAccounts. Only 11 reviews have been left on WalletHub, and only two were made on DepositAccounts. Positive reviewers were pleased with the loan process, both in the ease of securing the loans and the rates provided by the credit union. Negative reviewers seemed to have issues with in-person and phone customer service interactions.

Compare Tech CU alternatives

Technology CU	PenFed Credit Union	Alliant Credit Union
Top savings APY	Top savings APY	Top savings APY
0.20%	3.00%	3.10%
Top checking APY	Top checking APY	Top checking APY
0.10%	Up to 0.35%	0.25%
Top CD APY	Top CD APY	Top CD APY
5.00%	4.00%	4.75%
Other services	Other services	Other services
HSA Mortgage loans Personal loans Credit cards Solar loans Wealth management Business accounts	Credit cards Auto loans Mortgages Personal loans Student loans	Auto loans Alliant Signature Card Alliant Platinum Card Uniform Transfers to Minors Act (UTMA) custodial accounts
Learn more	Learn more	Learn more
Compare more alternatives	View offer at MoneyLion	View offer at Alliant

Is Tech CU right for you?

If you are located near a Tech CU branch in California or Texas and are looking for a credit union for your banking needs, Tech CU could be a good choice. Outside of limited-time CDs, you won’t earn the best rates of return on your funds with Tech CU, but it does offer all the banking products and services you would need. It is a solid credit union that makes the most sense for customers local to its branded physical branch locations.

Frequently asked questions