First Tech Taps Federal Reserve Veteran for Top Legal Role Amid Major Growth

SAN JOSE, CA and HILLSBORO, OR – March 30, 2026 – In a significant move underscoring its strategic ambitions, First Tech Federal Credit Union has appointed former Federal Reserve Bank of Boston General Counsel Steven Wright as its new Chief Legal Officer (CLO). The appointment comes at a pivotal moment for the financial institution, which recently completed a monumental merger to become a $28.7 billion powerhouse serving nearly two million members nationwide.

Wright will report directly to President and CEO Shruti Miyashiro, taking the helm of the credit union's Enterprise Governance & Legal Affairs (EGLA), Government Affairs, and Compliance teams. The decision to bring in a legal executive with deep experience in federal regulatory circles signals First Tech's focus on fortifying its governance and compliance frameworks as it integrates its operations and charts a course for future expansion.

"We are pleased to welcome Steven to the First Tech leadership team," said Shruti Miyashiro, President and CEO of First Tech. "His expertise in finance, governance, and strategic leadership will help strengthen our organization as we continue to grow and serve our members."

A Leader with Public and Private Sector Acumen

Steven Wright brings a formidable resume to First Tech, blending high-level public service with decades of experience advising top-tier corporations. Most recently, he served as Senior Vice President, General Counsel, and Chief Ethics Officer at the Federal Reserve Bank of Boston. During his seven-year tenure, he was a key advisor to senior leadership on critical legal, policy, and governance matters and was deeply involved in nationally significant initiatives, including the FedNow instant payment service, the Main Street Loan Program, and the Hamilton Project exploring a central bank digital currency.

His leadership at the Boston Fed extended beyond legal counsel; he also managed the Enterprise Services Division, which included the Legal department, Real Estate, Law Enforcement, and the former Office of Diversity, Equity, and Inclusion. This broad operational oversight demonstrates a capacity for managing complex, multi-disciplinary functions crucial for a large financial institution.

Before his time at the Federal Reserve, Wright was an Executive Partner at the global law firm Holland & Knight. For over 20 years, he acted as a lead counsel and strategic advisor to several Fortune 500 companies, navigating intricate commercial, corporate, and regulatory challenges. His legal prowess has been recognized with his induction into the Massachusetts Lawyers Weekly Hall of Fame and receiving the Boston College Law School Lifetime Achievement Award, cementing his reputation as a distinguished leader in the legal community.

Steering a Post-Merger Powerhouse

Wright's appointment is inextricably linked to First Tech's recent transformation. The credit union's merger with Digital Federal Credit Union (DCU), which became legally effective on January 1, 2026, created one of the largest credit unions in the United States. While the combined entity operates under the First Tech Federal Credit Union name, it is currently functioning as two divisions as it works to fully integrate systems, policies, and cultures.

This post-merger environment presents a labyrinth of legal and regulatory complexities. Harmonizing compliance programs, standardizing governance protocols, and ensuring seamless operational integrity across a vast, newly combined member base are monumental tasks. Wright's role will be central to navigating this integration, providing the strategic legal foresight required to build a unified and resilient organization. His experience in both large-scale corporate law and federal financial regulation provides a unique dual perspective essential for overseeing such a complex transition.

The Evolving Regulatory Gauntlet

The move also positions First Tech to proactively address the increasingly demanding regulatory environment facing large financial institutions. The National Credit Union Administration (NCUA) has intensified its scrutiny of large credit unions, focusing on key areas of risk including credit, liquidity, and cybersecurity. With threats from ransomware and sophisticated fraud schemes on the rise, robust legal and compliance oversight is no longer a back-office function but a core component of institutional strategy.

Furthermore, compliance with the Bank Secrecy Act (BSA), anti-money laundering (AML) rules, and consumer protection regulations from agencies like the Consumer Financial Protection Bureau (CFPB) requires constant vigilance and adaptation. For a credit union serving employees of the world's leading technology companies—including Google, Amazon, and Microsoft—the complexities of data privacy and digital service delivery add another layer of regulatory risk. Wright’s background at a federal reserve bank gives him an unparalleled understanding of regulatory expectations and the enforcement mindset, enabling him to build a compliance framework that is not just reactive, but predictive.

Bolstering Governance for a Member-Owned Giant

As a member-owned cooperative, First Tech is governed by a volunteer Board of Directors, placing a premium on ethical leadership and transparent governance. The CLO is a critical link in this structure, ensuring that the credit union's strategies align with its legal obligations and its foundational commitment to its members. By leading the Enterprise Governance & Legal Affairs team, Wright is tasked with upholding the highest standards of integrity and providing the board with the counsel needed to navigate strategic decisions.

His arrival signals a clear commitment from First Tech to invest in top-tier talent to safeguard the institution and its members as it continues to scale. As the credit union leverages its increased size to invest in new technologies and expand services, Wright’s leadership will be instrumental in ensuring that growth is both ambitious and responsible.

"Credit unions play a vital role in strengthening financial well-being and expanding access to opportunities," Wright stated. "I'm honored to join an organization so deeply committed to its members and communities. I look forward to partnering with leadership and the Board to ensure we continue operating with the highest standards of integrity, compliance, and strategic foresight as we grow."