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First Entertainment Credit Union


Overview / Commentary
www.firstent.org
323-851-3673
6735 Forest Lawn Dr
Hollywood, CA 90068

First Entertainment Credit Union is headquartered in Hollywood and is the 32nd largest credit union in the state of California. It is also the 216th largest credit union in the nation. It was established in 1967 and as of December of 2022, it had grown to 242 employees and 89,521 members at 8 locations. First Entertainment Credit Union 's money market rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in First Entertainment Credit Union is open to those who live, work, worship or attend school in Los Angeles County, California and to employees and retirees of companies served by First Entertainment.
See current membership details

Related Posts

First Entertainment Credit Union Unveils Very Competitive 15-Month CD - 1/4/2023

First Entertainment Credit Union (Los Angeles County, CA) has added a 15-month CD Special that earns a rate-leading APY. $5k minimum deposit of new money.

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Reviews (4)

First Entertainment Federal Credit Union -- Good Service

Posted by: |

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.

3

Average Service

Posted by: |

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.

 

5

HORRIBLE FINANCIAL INSTITUTION

Posted by: |

This is possibly the worst "financial institution" ever!
Customer service representatives are extremely uninformed. Fees are ridiculous and outrageous! Honestly, I think random people on the street are more knowledgeable about banking. I have closed all my accounts and moved my money elsewhere. Let's just say, you're better off keeping your money in a paper bag under your mattress than at First Entertainment Credit Union.

3

First Entertainment

Posted by: |

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.

9


Health
B+

Data as of Q4 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #68373
Year Chartered1967
Employees242
Primary Regulator
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD14.5%
Annual Interest Income$60.7MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$2.11B$2.11B
LoansQ4 2022vs Q4 2021$1.42B$1.22B
DepositsQ4 2022vs Q4 2021$1.93B$1.93B
Equity CapitalQ4 2022vs Q4 2021$122.5MM$160.2MM
Loan Loss AllowanceQ4 2022vs Q4 2021$12.2MM$11.4MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$3.7MM$8.9MM
Real Estate OwnedQ4 2022vs Q4 2021$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Entertainment Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$5$500First 500 Savings
OTHER TIERS: 0.20% → $500+
2.00%*$5$500First500 Youth Savings
OTHER TIERS: 0.20% → $500+
1.00%--Health Savings Account HSA
0.80%--Holiday Savings
0.40%--IRA Daily
0.20%--Secondary Savings
0.20%$5-Coogan (Youth) Account
0.20%$250-Business Savings

First Entertainment Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$1m*-Money Market Savings
OTHER TIERS: 0.80% → $2.5k - $10k | 0.95% → $10k - $25k | 1.00% → $25k - $50k | 1.05% → $50k - $100k | 1.15% → $100k - $250k | 1.25% → $250k - $500k | 1.45% → $500k - $1m
1.40%*$1m*-Business Money Market Savings
OTHER TIERS: 0.70% → $2.5k - $10k | 0.75% → $10k - $25k | 0.90% → $25k - $50k | 0.95% → $50k - $100k | 1.10% → $100k - $250k | 1.20% → $250k - $500k | 1.30% → $500k - $1m

First Entertainment Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Advantage Checking

First Entertainment Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$5k-9 Month Certificate Special
3.85%*$100k*-5 Year Term Account
OTHER TIERS: 3.55% → $1k - $25k | 3.70% → $25k - $100k
3.65%*$100k*-Business 5 Year Term Account
OTHER TIERS: 3.35% → $1k - $25k | 3.50% → $25k - $100k
3.60%*$100k*-4 Year Term Account
OTHER TIERS: 3.30% → $1k - $25k | 3.45% → $25k - $100k
3.40%*$100k*-Business 4 Year Term Account
OTHER TIERS: 3.10% → $1k - $25k | 3.25% → $25k - $100k
3.35%*$100k*-3 Year Term Account
OTHER TIERS: 3.05% → $1k - $25k | 3.20% → $25k - $100k
3.15%*$100k*-Business 3 Year Term Account
OTHER TIERS: 2.85% → $1k - $25k | 3.00% → $25k - $100k
3.10%*$100k*-2 Year Term Account
OTHER TIERS: 2.80% → $1k - $25k | 2.95% → $25k - $100k
2.90%*$100k*-Business 2 Year Term Account
OTHER TIERS: 2.60% → $1k - $25k | 2.75% → $25k - $100k
2.85%*$100k*-1 year Term Account
OTHER TIERS: 2.55% → $1k - $25k | 2.70% → $25k - $100k
2.65%*$100k*-Business 1 year Term Account
OTHER TIERS: 2.35% → $1k - $25k | 2.50% → $25k - $100k
2.55%*$100k*-6 Month Term Account
OTHER TIERS: 2.25% → $1k - $25k | 2.40% → $25k - $100k
2.35%*$100k*-Business 6 Month Term Account
OTHER TIERS: 2.05% → $1k - $25k | 2.20% → $25k - $100k

First Entertainment Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$5k-9 Month IRA Term Account Special
4.05%*$100k*-5 Year IRA Term Account
OTHER TIERS: 3.75% → $1k - $25k | 3.90% → $25k - $100k
3.80%*$100k*-4 Year IRA Term Account
OTHER TIERS: 3.50% → $1k - $25k | 3.65% → $25k - $100k
3.55%*$100k*-3 Year IRA Term Account
OTHER TIERS: 3.25% → $1k - $25k | 3.40% → $25k - $100k
3.30%*$100k*-2 Year IRA Term Account
OTHER TIERS: 3.00% → $1k - $25k | 3.15% → $25k - $100k
3.05%*$100k*-1 Year IRA Term Account
OTHER TIERS: 2.75% → $1k - $25k | 2.90% → $25k - $100k
2.75%*$100k*-6 Month IRA Term Account
OTHER TIERS: 2.45% → $1k - $25k | 2.60% → $25k - $100k
Locations


First Entertainment Credit Union Locations
Branch Office5555 Melrose Ave West 124Los Angeles, CA 90038-3989
Branch Office6735 Forest Lawn DrHollywood, CA 90068
Branch Office11052 Washington BlvdCulver City, CA 90232-3923
Branch Office4000 Warner BlvdBurbank, CA 91522-0001
Branch Office4067 Laurel Canyon BlvdStudio City, CA 91604-2016
Branch Office2520 W Olive AveBurbank, CA 91505-4527
Branch Office25828 McBean PkwySanta Clarita, CA 91355
Branch Office10202 Washington Blvd Jimmy Durante Rm. 104-105Culver City, CA 90232-3119

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