First Entertainment Credit Union is headquartered in Hollywood and is the 33rd largest credit union in the state of California. It is also the 214th largest credit union in the nation. It was established in 1967 and as of September of 2022, it had grown to 250 employees and 89,172 members at 9 locations. First Entertainment Credit Union 's CD rates are 2X 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
12/5/09 - 2.09% 18-Month CD & 3.00% 36-Month CD at First Entertainment Credit Union in CA - Local Only
9/13/09 - 2.29% 18-Month CD & 2.09% 12-Month CD at First Entertainment Credit Union in California - Local Only
2/6/09 - 3.25% 12-Month CD at First Entertainment Credit Union in Los Angeles
5/31/08 - 3.70% 7-Month CD at a CA/NY Credit Union - plus a Savings Account Promo (First Entertainment).
5/13/08 - 5.05% 9-Month CD at a CA/NY Credit Union (First Entertainment).
8/7/07 - 5.60% 7-Month CD at a Los Angeles/New York CU (First Entertainment)
7/10/07 - 5.50% 3 to 60 Month CDs at a Los Angeles/New York CU (First Entertainment)
5/26/07 - 6.00% 8-Month CD at a Los Angeles/New York CU (First Entertainment).
First Entertainment Federal Credit Union -- Good Service
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.
Average Service
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.
HORRIBLE FINANCIAL INSTITUTION
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.
First Entertainment
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.
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68373 |
| Year Chartered | 1967 |
| Employees | 250 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.82% |
| Return on Equity - YTD | 14.78% |
| Annual Interest Income | $43.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $2.08B$2.09B |
| Loans | Q3 2022vs Q3 2021 | $1.35B$1.21B |
| Deposits | Q3 2022vs Q3 2021 | $1.95B$1.91B |
| Equity Capital | Q3 2022vs Q3 2021 | $116.3MM$161.9MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $11.9MM$11.9MM |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $4.8MM$21.4MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |