YOU NEED TO KNOW: FIRST ENTERTAINMENT IS STRONG, SAFE AND SOLID.
To Our Members,
With all the grim and unsettling news about financial institutions and the stock market, you need to know that when it comes to your credit union, you can put your mind at ease:
First Entertainment is strong, stable and thriving.
The safety of your funds and the security of your credit union has always been our foremost priority. That is why we now enjoy an enviable level of security, reliability and liquidity. Here are some facts:
- We did not overload our loan portfolios with subprime mortgages and we are not burdened with substantial real estate delinquencies.
- We have NO debt.
- We CONTINUE TO GROW AND MAKE LOANS every day — when others are not
- We remain profitable. Further, we believe in total transparency—you can review our financials at www.ncua.gov. Our Charter number is 68373. Remember, we use our profits to build our capital, not to reward stockholders.
- Your accounts are INSURED to $250,000, and your IRAs are insured separately to $250,000. For more information you can call the new National Credit Union Administration’s Insurance Call Center Monday through Friday, 8:00 AM – 6:30 PM (EDT) at (800) 755-1030, extension 1.
- Our Board is comprised of current and former senior level managers from three major studios and other notable entertainment companies. They serve in a VOLUNTEER role and are not compensated. They bring expertise in accounting, HR, Marketing and IT to the management of First Entertainment. The senior management team has more than 80 years combined credit union experience — all of which is applied to looking out for your best interests, not the profits of shareholders or corporate executives.
These are stressful times for the American people, but at First Entertainment, your accounts are safe, credit lines are flowing and you have a rock-solid buffer against uncertainty.
Thank you for your continued support, and if you have any questions, please don’t hesitate to contact us at (888) 800-3328. As always, we are here for you, and that is why, today, First Entertainment is one of the safest, strongest financial institutions in the country.
Charles A. Bruen
President/CEO |
