Growing Our Future Together
First Entertainment Credit Union is asking members to vote on a proposed federal charter conversion. This change is designed to support future growth, expand opportunities to serve creative professionals nationwide, and strengthen our ability to deliver innovative financial solutions.Â
If approved, First Entertainment will continue to operate as a member-owned, not-for-profit credit union. Your accounts, digital banking access, and member benefits will remain unchanged.
What you need to know:
- Member ownership remains the same
- Accounts and banking access remain unchanged
- Deposits remain federally insured by NCUA
- No service interruptions are expected
- Supports continued growth and future investment
What This Means for Members
For most members, there will be no noticeable changes. You can continue using your First Entertainment accounts, cards, digital banking services, and other products exactly as you use today.
This proposal changes the regulatory charter under which the credit union operates from state chartered to federally charted, and is intended to help First Entertainment remain strong and adaptable. This does not change ownership.
Your rights as a member-owner remain the same, including your right to vote on important matters affecting the credit union like this one.
How Members Can Vote
As a member-owner, your voice matters. Eligible members can vote online or, if you’d prefer to vote in person, attend the below meeting. Your vote will be recorded the same way whether you vote digitally or in person.
Meeting Details
During the meeting, members will learn more about the proposal, how it may support future growth and what it means for your membership.
For members in Southern California, you are invited to join us for an in-person vote. You can also submit your vote online through the link below.
Date & Time:
Thursday, October 29, 2026
6 p.m. P.T.
Location:
Hollywood Branch
6735 Forest Lawn Dr.
Hollywood, CA 90068
Frequently Asked Questions
1. Why is a federal charter being proposed?
First Entertainment is proposing to convert from a state to a federal charter to better serve our members and grow beyond our current footprint. The change is intended to provide additional flexibility to continue investing in the products, technology, security, and digital banking experience you expect, while keeping your day-to-day banking simple and seamless.
2. Is First Entertainment being acquired or sold?
No. First Entertainment will remain a member-owned, not-for-profit cooperative, exactly as it is today. This is a change in regulatory charter, not a change in ownership or structure.
3. How will this impact me?
For most members, there will be no noticeable changes. You can continue using your First Entertainment accounts, cards, digital banking services, and other products exactly as you do today.
4. Will my accounts still be insured?
Yes. Your deposits will continue to be federally insured up to applicable limits through the National Credit Union Insurance Fund, giving you the same peace of mind and protection you have today.
5. Will my account number, routing number, or debit card change?
No. Your account number, routing number, direct deposits, automatic payments, debit cards, and digital payment services will continue to work as they do today.
6. Will I experience any service interruptions?
No interruptions are expected. You should continue to have uninterrupted access to your accounts, mobile banking, online banking, cards, ATMs, and member support services.
7. Do I get to vote on the proposed charter conversion?
Yes. As a member-owner, you have a voice in this decision. Eligible members will have the opportunity to vote on the proposed charter conversion.
8. Why should I support this charter conversion?
The proposed conversion is intended to help ensure the credit union remains strong, adaptable, and well-positioned for the future. It can support continued investment in the products, tools, digital experiences, convenience, and member service that help make banking easier for you.
9. How can I vote?
If you are eligible to vote, you will receive instructions explaining your voting options, important dates, and how to cast your ballot.
10. When do I need to vote by?
You will receive information about the voting deadline through official voting materials and member communications.
11. When is the special meeting?
You will receive advance notice with details about the special meeting, including the date, time, location, and any available virtual attendance options.
12. How does this help First Entertainment grow and better serve me?
The proposed charter can provide additional flexibility to support future investments in the products, services, digital tools, and financial solutions that benefit you. As we continue evolving, our goal remains the same: to make banking easier, more helpful, and more relevant to your life and career.
13. Who will be eligible to join in the future?
Future membership eligibility will be based on the approved federal field of membership. We will clearly communicate those requirements so you understand who may be eligible to join the First Entertainment community in the future.
14. What is the difference between a state charter and a federal charter?
The primary difference is the regulatory framework under which the credit union operates. Regardless of the charter type, you will continue to receive the benefits of credit union membership, strong consumer protections, and federal share insurance.
15. When would the charter conversion take effect?
The conversion can move forward only after member approval and required regulatory review. If approved, we will convert on Tuesday, December 1, 2026.
16. When will voting results be announced?
Voting results will be announced Friday, November 20, 2026.
17. How will members be notified if the charter change is approved?
Once we receive approval from both our members and regulators, we’ll post an announcement on our website and digital channels confirming the conversion to a federal charter.
18. Will my voting rights as a member change?
No. Your rights as a member-owner will remain the same. You will continue to have one vote, just as you do today.
19. Can I remain a member if I move or change jobs?
Yes. Once you become a member, your membership stays with you, even if you move, change employers, or move into a different stage of your career.
20. Will the credit union’s name change?
Yes, the legal name will change to First Entertainment Federal Credit Union, but we will continue doing business as First Entertainment Credit Union. This allows us to keep our website, emails, advertising, business cards, social media, and our logo the same. First Entertainment Federal Credit Union name will only be used on specific legal documentation.
21. I have more questions. Who can I speak to?
If you have more questions, email talktotheceo@firstent.org.