First Entertainment Credit Union is headquartered in Hollywood and is the 33rd largest credit union in the state of California. It is also the 207th largest credit union in the nation. It was established in 1967 and as of June of 2022, it had grown to 246 employees and 88,913 members at 9 locations. First Entertainment Credit Union has an A health rating.
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
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.
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.
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.
|Return on Assets - YTD||0.82%|
|Return on Equity - YTD||13.38%|
|Annual Interest Income||$27.1MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$2.10B$2.01B|
|Loans||Q2 2022vs Q2 2021||$1.30B$1.20B|
|Deposits||Q2 2022vs Q2 2021||$1.95B$1.83B|
|Equity Capital||Q2 2022vs Q2 2021||$129.3MM$160.7MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$11.0MM$11.2MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$4.1MM$40.9MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$0|
Rates for First Entertainment Credit Union are currently being reviewed.
|First Entertainment Credit Union Locations|
|Branch Office||5555 Melrose Ave West 124||Los Angeles, CA 90038-3989|
|Branch Office||6735 Forest Lawn Dr||Hollywood, CA 90068|
|Branch Office||11052 Washington Blvd||Culver City, CA 90232-3923|
|Branch Office||4000 Warner Blvd||Burbank, CA 91522-0001|
|Branch Office||4067 Laurel Canyon Blvd||Studio City, CA 91604-2016|
|Branch Office||2520 W Olive Ave||Burbank, CA 91505-4527|
|Branch Office||25828 McBean Pkwy||Santa Clarita, CA 91355|
|Branch Office||2425 Colorado Ave Suite B119||Santa Monica, CA 90404|
|Branch Office||10202 Washington Blvd Jimmy Durante Rm. 104-105||Culver City, CA 90232-3119|