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First Entertainment Credit Union Elevates Financial Services with Checking and Savings Enhancements

First Entertainment is giving members up to $200 for the year back into their accounts with a series of comprehensive updates to various financial offerings

HOLLYWOOD, Calif. (May 21, 2024) – First Entertainment Credit Union, the premier financial partner to creators in the entertainment community, announced today a broad range of enhancements across its Value Checking program and various financial offerings, solidifying the credit union’s commitment to providing beneficial banking solutions to its creative community.

“The recent enhancements to First Entertainment’s Value Checking and First500 Savings products are designed to put hard-earned money back into our members’ pockets,” said Stephen Owen, President and Chief Executive Officer at First Entertainment Credit Union. “We’ve listened to what our members have been asking for and have responded with innovative financial solutions. This is a tremendous giveback program that benefits our membership.”

First Entertainment’s Value Checking boasts the following updated and new features aimed at reducing fees and adding more advantages.

  • No Foreign Transaction Fees: Members will benefit from fee-free banking while working or traveling abroad and using their First Entertainment debit card.
  • Expedited Payroll Access: Payroll deposits will be made available up to three days early.
  • 24/7 Mobile Banking Access and Extended ATM Network: Access to around-the-clock mobile banking services.

Value Checking members with more than $1,000 in direct deposits per month gain additional perks, including:

  • Up to $15 in ATM surcharge-fee rebates per month when using non-First Entertainment ATMs.
  • No out-of-network ATM withdrawal fees.
  • A 0.25% discount on an Adjustable-Rate Mortgage (ARM) loan when members utilize autopay.

There have also been significant changes to First Entertainment’s First500 savings and term certificate accounts.

  • First500 Tiered Savings Interest Rates: A 5% APY interest rate on the first $500 in the First500 Savings Account when certain requirements are met.
  • High-Yield Term Certificate: A 4.90% APY return on a 13-month term certificate account, offering above-average returns on short-term investments.

“We’ve recognized the essential role that accessible and supportive financial products and services play in fostering financial growth,” said Owen. “These new enhancements are reflective of First Entertainment’s unwavering dedication to provide practical financial solutions for our community, effectively providing them with more autonomy over their money.”

About First Entertainment

Since 1967, First Entertainment Credit Union has served creators in the entertainment industry. Headquartered in Hollywood, Calif., First Entertainment provides banking and financial services through its 8 branches in Los Angeles County – including the Warner Bros., Sony, and Paramount studio locations – and manages $2 billion in assets with a team of more than 200 employees. First Entertainment provides financial solutions to nearly 90,000 members through accessible 24/7 digital banking, unique entertainment-industry financial products, services, and ATMs. Visit FirstEnt.org.