First Entertainment Credit Union

First Entertainment Credit Union

Member-focused financial services for entertainment industry

About First Entertainment Credit Union

Simplify's Rating
Why First Entertainment Credit Union is rated
B
Rated C on Competitive Edge
Rated B on Growth Potential
Rated A on Rating Differentiation

Industries

Financial Services

Company Size

51-200

Company Stage

N/A

Total Funding

N/A

Headquarters

Los Angeles, California

Founded

1967

Overview

First Entertainment Credit Union provides banking and financial services specifically designed for its members, primarily those in the entertainment industry, though membership is open to others. The credit union offers a variety of financial products, including term savings certificates, home equity lines of credit, debt consolidation loans, auto loans, and insurance products. They also provide investment services and emphasize financial education through free webinars and online tools like financial calculators. Unlike traditional banks, First Entertainment Credit Union focuses on member satisfaction by offering lower rates and better terms, aiming to build long-term relationships with its members.

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Simplify's Take

What believers are saying

  • Growing demand for digital banking enhances member engagement and satisfaction.
  • Interest in sustainable finance attracts environmentally conscious members.
  • Expansion of financial wellness programs differentiates from competitors.

What critics are saying

  • Competition from digital-only banks and fintechs may erode market share.
  • Economic downturns in entertainment industry could affect loan repayment rates.
  • Regulatory scrutiny may increase compliance costs and operational challenges.

What makes First Entertainment Credit Union unique

  • Focus on entertainment industry with tailored financial products and services.
  • Strong emphasis on financial education through webinars and seminars.
  • Partnerships with industry organizations like The Academy of Magical Arts.

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Benefits

Health Insurance

401(k) Retirement Plan

Profit Sharing

Paid Vacation

Paid Sick Leave

Paid Holidays

Parental Leave

Professional Development Budget

Tuition Reimbursement

Wellness Program

Hybrid Work Options

Company News

PR Newswire
Mar 5th, 2025
First Entertainment Credit Union Donates $75,000 To Support California Wildfire Relief Efforts

In response to the devastating wildfires in Los Angeles, First Entertainment reinforces its commitment by giving financial support to entertainment industry guilds and community organizations for those affected HOLLYWOOD, Calif., March 5, 2025 /PRNewswire/ -- First Entertainment Credit Union, the premier financial partner for creators and below the line professionals in the entertainment industry, has made a donation of $75,000 to support individuals affected by the recent Los Angeles wildfires. These funds will provide aid to local industry organizations in their relief efforts as the community heals

First Entertainment Credit Union
Feb 22nd, 2025
First Entertainment Provides $75,000 in Wildfire Relief Support

Firstent also partnered with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco), a member-driven cooperative helping local lenders in California, to provide these donations.

PR Newswire
Jun 15th, 2023
The Academy Of Magical Arts Selects First Entertainment Credit Union As Its Financial Partner

First Entertainment enters into partnership with The Academy of Magical Arts, helping magicians, members and Academy employees access financial resources tailored to the entertainment industryLOS ANGELES, Calif., June 15, 2023 /PRNewswire/ -- First Entertainment Credit Union, the premier financial partner to creators in the entertainment community, is proud to announce its new partnership with The Academy of Magical Arts (AMA). The partnership, which began with sponsorship of The Academy of Magical Arts Award Show on May 25th, will provide AMA members access to financial products and educational resources catered to entertainers, while supporting the AMA's overall initiative."As a financial institution dedicated to serving the needs of independent contractors in the entertainment industry, we recognize the unique financial needs entertainers encounter," said Stephen Owen, President and CEO of First Entertainment Credit Union. "Through this partnership, the AMA will have access to financial resources and literacy programs tailored specifically to entertainers so that both Academy members and AMA employees can succeed throughout their careers."The Academy of Magical Arts, headquartered in the heart of Hollywood, California in the historic Magic Castle®, has more than 4,500 members and 190 with a mission to promote the art of magic and the positive image of magic and magicians worldwide."The Academy of Magical Arts has chosen First Entertainment Credit Union as its financial partner for a variety of compelling reasons," said Michael Albright, Creative Director for The Academy of Magical Arts. "First Entertainment's unique understanding of the entertainment industry and their ability to adapt to the ever-changing needs of its members make it especially suited for our membership. They're a financial institution well known and highly respected for their personal assistance that helps make life better for their members, and in that regard, we have a lot in common. This is a relationship we can be proud of."About First Entertainment Credit UnionSince 1967, First Entertainment Credit Union has served creators in the entertainment industry

PRWeb
Jan 25th, 2023
First Entertainment Credit Union Members Earn $100K And Counting In Re

First Entertainment Credit Union implemented the Home Rewards Program with the goal of making homeownership more feasible. To date, First Entertainment members have received $109,000 in rebates, adding significant value to the traditional buying and selling process. .

PRWeb
Dec 15th, 2022
First Entertainment Credit Union Announces ‘12 Days Of Giving’

In the spirit of the season, First Entertainment Credit Union is offering everyone a chance to win fun prizes ranging from gift cards that can help with holiday shopping to fun local experiences. .

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