2 credit unions focused on the technology industry open in Idaho 

Two credit unions geared toward the technology industry, each headquartered in San Jose, California, have expanded in Idaho, one with a brick-and-mortar branch and another online. 

They are First Tech Federal Credit Union, which opened a branch in Eagle, and Technology Credit Union (Tech CU), which provides access to its “virtual branch” to Treasure Valley residents. 

First Tech Federal Credit Union

First Tech, in Idaho for more than 15 years, needed a new branch because its previous branch was housed in the HP campus on Chinden, since sold to the state of Idaho, said Chris Mantie, vice president, experience centers sales and services, in an email message. “We made the decision to move to a more retail location in an effort to allow greater access and serve our existing and future members,” he said.  

First Tech’s field of membership — which determines who can open an account — is technology companies and employees, including HP, which is how it came to Idaho. Other companies First Tech serves include Agilent, Amazon, Cisco, Google, Intel, Intuit, Microsoft and Nike, Mantie said.  

The new branch, which held its grand opening Nov. 16, is at 47 E. Riverside Drive in Eagle, in a renovated Idaho First Bank branch. The renovation project was led by JLL and built by Andersen Construction for an undisclosed price, Mantie said. 

While the Eagle branch is the only Idaho one of its 33 branches nationwide, that could change, Mantie said. “Potentially, given the growth in the Idaho market,” he said. “It also needs to make sense for our existing and potential members, as we desire to use our members’ money wisely. We are, however, excited by the potential to serve more technology workers in Idaho. We work with analysts who look at the data and tell us where it would best benefit our existing and potential members to have a presence.” 

First Tech, founded in 1952, has more than 720,000 members and assets of more than $17 billion, Mantie said.  

Technology Credit Union 

Tech CU is new to Idaho, said Robert Reed, executive vice president and chief retail banking officer, in an email message. However, the company had been planning to open a brick-and-mortar branch in the state before COVID-19 intervened, he said.  

“Virtual Branch is​ a live video meeting feature that replicates the in-person real-time banking experience,” Reed said. “Members can talk to a virtual banker about their banking questions and can take care of the types of transactions typically done at an in-person appointment, including credit card and loan requests, account or debit card issues, savings/CD requests and IRA/HSA investments.”  

That said, the credit union is still planning to open a brick-and-mortar branch in Idaho.  

“We hope to open a physical branch in the Treasure Valley area as soon as it is practical,” Reed said. 

Tech CU’s field of membership is anyone who lives, works, goes to school or regularly worships in the counties in which it operates, which in Idaho are Ada and Canyon, Reed said. It has 10 brick-and-mortar branches in the Bay Area. 

Tech CU, founded in 1960, has more than 160,000 members with nearly $4.5 million in assets, Reed said.  

First Tech is federally chartered, meaning the Idaho Department of Finance has no authority or oversight of it, said Richard Sherrick, supervisory credit union examiner, in an email message. Tech CU, chartered in California, received the ability to operate in Idaho on Aug. 13, 2020, which would also cover a physical branch, he added.