First Entertainment Credit Union is headquartered in Hollywood and is the 34th largest credit union in the state of California. It is also the 194th largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 154 employees and 68,124 members. First Entertainment Credit Union 's savings rates are 10X the national average, and it has a A health rating.
Membership in First Entertainment Credit Union is open to the employees, their families and retirees of companies served by First Entertainment, and to most individuals who work, live, attend school or worship in the Greater Los Angeles Area. - See Details
We went to the Wilshire branch today to have money wired to our bank in France and a signature guarantee on a document. I was told I need to come back for the guarantee - no one there to help - and after about 10 minutes of looking over the information for the wire transfer, the teller informed us that she couldn't do anything without a swift code so we need to come back for that too - so much for the special trip to the bank. When I got home I googled swift code BNP and immediately found that it is also known as a BIC code. The BIC code is what we showed the teller on our wire instruction sheet from BNP but she was convinced that it needed to be a "swift" code, so we left.
The tellers at First Entertainment seem to be lacking the most basic knowledge of how their bank (or any bank) functions. From the day we first set up our account 4 years ago, I have had concerns and it just keeps getting worse. I have gotten wrong or conflicting information every time I have tried to do anything other than a simple deposit or withdrawal
I am looking for another bank, any recommendations would be appreciated.
My experience with First Entertainment FCU in Hollywood was good. They were clear and informative about the products, fees, anything else they offer. I went into the branch to open my membership and to open a CD. All went smoothly.
I note, they are part of the shared branch system under which various credit unions agree to let other credit union's members make transactions. I consider this a major benefit as it provides a lot more options all over the country to go to a branch to take care of some of your transactions.
The only issue I have found with the shared branch system is some limits on withdrawals -- seems they normally won't let you withdrawal more than about $500 of cash -- and fees if you want your withdrawal in check form, which would be necessary for larger withdrawals. But I have found no limits or fees on deposits.
First Entertainment had good service in person and on the Internet. Their rates are not always very high, though, but every once in a while they have a good promotion to grab.
Their branch service is inconsistent and depends on which branch you use. The Main Office and Studio City employees are rude and indifferent. The Burbank and Encino staff are better trained and appear to be more interested in helping members. Their phone service is inconsistent as well and depends on when you call. After hours service is handled by an outside company and they are limited in what they can do. I have a savings and loan with them. The rates are average. I use their Encino Branch to make deposits and withdrawals to another credit union I belong too as they participate in a share branching program. I have had no problems with the shared branching. Every time I compare their services I find a better deal somewhere else. I have kept the account because I have had it for years and joined when they were Columbia-Warner FCU. They used to be a friendly place but not so these days.
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 First Entertainment Credit Union had $6.94 million in non-current loans and owned real-estate with $103.26 million in equity and loan loss allowances on hand to cover it. This gives First Entertainment Credit Union a Texas Ratio of 6.72% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for First Entertainment Credit Union decreased slightly from 8.07% as of December 31, 2012 to 6.72% as of December 31, 2013, resulting in a positive change of 16.72%.This indicates that the balance sheet and financial strength for First Entertainment Credit Union has improved slightly in recent periods.
In the past year, First Entertainment Credit Union has increased its total deposits by $48.65 million, resulting in 5.36% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth First Entertainment Credit Union has shown is excellent.
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. First Entertainment Credit Union has $1.06 billion in assets with $103.26 million in equity, resulting in a capitalization level of 9.73%, which is above average.
|Assets and Liabilities|
|Equity Capital||$96.88 million|
|Loan Loss Allowance||$6.38 million|
|Unbacked Noncurrent Loans||$5.58 million|
|Real Estate Owned||$1.36 million|
|Historic Data - December 2012|
|Equity Capital||$95.51 million|
|Loan Loss Allowance||$8.28 million|
|Unbacked Noncurrent Loans||$5.58 million|
|Real Estate Owned||$1.23 million|
|Profit Margin - Quarterly|
|Net Interest Margin||3.63%|
|Return on Assets||0.8%|
|Return on Equity||8.79%|
|Interest Income||$29.54 million|
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|5.00%||-||$500||Coogan (Youth) Account|
|0.35%||-||-||Health Savings Account HSA|
|0.20%||-||-||Roth IRA Daily|
|0.60%||$100k||-||Money Market Savings|
|1.50%||$1k||-||5 Year Term Account|
|1.00%||$1k||-||4 Year Term Account|
|0.90%||$1k||-||3 Year Term Account|
|0.80%||$1k||-||2 Year Term Account|
|0.55%||$1k||-||1 year Term Account|
|0.35%||$1k||-||6 Month Term Account|
|1.50%||$1k||-||5 Year IRA Term Account (Traditional,Roth,CESA)|
|1.00%||$1k||-||4 Year IRA Term Account (Traditional,Roth,CESA)|
|0.90%||$1k||-||3 Year IRA Term Account (Traditional,Roth,CESA)|
|0.80%||$1k||-||2 Year IRA Term Account (Traditional,Roth,CESA)|
|0.55%||$1k||-||1 Year IRA Term Account (Traditional,Roth,CESA)|
|0.35%||$1k||-||6 Month IRA Term Account (Traditional,Roth,CESA)|
|First Entertainment Credit Union Locations|
|Branch Office||5555 Melrose Ave||Los Angeles, CA 90038-3989|
|Branch Office||6735 Forest Lawn Dr||Hollywood, CA 90068|
|Branch Office||10000 Washington Blvd||Culver City, CA 90232-2728|
|Branch Office||4000 Warner Blvd||Burbank, CA 91522-0001|
|Branch Office||4067 Laurel Canyon Blvd||Studio City, CA 91604-2016|
|Branch Office||5750 Wilshire Blvd Ste 140||Los Angeles, CA 90036|
|Branch Office||2520 W Olive Ave||Burbank, CA 91505-4527|
|Branch Office||27093 McBean Pkwy||Santa Clarita, CA 91355|
|Branch Office||2425 Colorado Ave||Santa Monica, CA 90404|
|Branch Office||17656 Ventura Blvd||Encino, CA 91316|