Why Choose Our High-Yield Business Savings Account?
Our High-Yield Savings Account offers an exceptional 3.65% APY—a rate that outpaces traditional savings options. Open an account while it’s available!
- 3.65% APY – Earn more on every dollar you save
(required minimum deposit $50,000 in new money) - No Monthly Fees – Keep more of what you earn
- Full Access to Funds – Withdraw anytime without penalties
- NCUA Insured – Your money is safe, secure, and insured up to $250,000
- Easy Online Access – Manage your savings 24/7 through Digital Banking
Open Your High-Yield Business Savings Account
Get started in a few simple steps.
Option 1: Scheduled a Phone Appointment
Skip the wait and open an account from your own home.
Schedule Your Appointment
Option 2: Call Us
Don’t want to talk on the computer? You can call us on the phone to get the process started.
- Call us at 888.800.3328.
Option 3: Message Us
Login to Digital Banking, send us a message, and a representative will contact you within the same business day.
Message us via Digital Banking
Frequently Asked Questions (FAQs)
Got Questions? We’ve Got Answers
A High Yield Savings Account is a type of savings account that offers a much higher interest rate than traditional savings accounts. It’s designed to help your money grow faster while still giving you easy access to your funds.
Yes! You’ll have full access to your funds whenever you need them. There are no penalties for withdrawals, so you can save confidently and still stay flexible.
Absolutely. Your High Yield Savings Account is federally insured by the NCUA (National Credit Union Administration), which means your money is protected up to $250,000.
There is no minimum deposit to open a High-Yield Savings Account, but to earn your 3.65% APY, you need a minimum balance of $50,000. If your account has less than $50,000, your rate will be based on the current applicable 5th tier of our Business Money Market Account. For the current rates, please visit our Business Rates Page
Why Join First Entertainment
As part of the entertainment community, you need a financial partner that understands your story. That’s the role we were born to play. We’re member-owned and not-for-profit, so you can count on:
- Great rates and lower fees
- Convenient digital and mobile banking tools
- Branches on studio lots2
- Loans to cover union fees
- Investment and insurance services
- Free credit score monitoring
- Homebuying commission rebates
- Free financial wellness resources
- Easy transfers with Zelle®3
What our members say
— Neal Z., Prop Master Read the full member storyFirst Entertainment is the best place for me to be. They’ve done a great job meeting my needs.
What our members say
— Rae A., Wardrobe Stylist Read the full member storyBeing a creative and working on productions, we may have large checks, and First Entertainment makes it easy and worry-free to mobile deposit on the go.
What our members say
— Devin H., Set Lighting Technician Read the full member storyFirst Entertainment is an ideal financial partner because the Credit Union understands the constant flux of the entertainment industry.
What our members say
— Shari H., Director DEI Operations Read the full member storyIt’s important that a financial institution understands the unique needs of the industry it serves in an equitable and empathetic way, and First Entertainment does that well.
What our members say
— Karen S., Makeup Artist (IATSE Local 706) Read the full member storyFirst Entertainment made the mortgage process painless for someone in the industry who has non-traditional work hours and pay history.
Disclosures
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GENERAL TERMS: This High Yield Business Savings Account Disclosure Addendum (“Disclosure”) is subject to the terms and conditions stated in the Business Account Agreement and Disclosure (“Account Agreement”) provided to me, which Account Agreement is incorporated into this Disclosure by this reference. In the event of any inconsistency between the terms of this Disclosure and that of the Account Agreement, the terms of the Account Agreement will govern to the extent of any inconsistency. In this Disclosure, the terms “I”, “me”, “my”, and “mine” refer to the First Entertainment Credit Union business member who opens a High Yield Savings Account; the terms “you”, “your”, and “yours” refer to First Entertainment Credit Union (“Credit Union”).
DIVIDEND RATE AND ANNUAL PERCENTAGE YIELD: For High Yield Business Savings Accounts, the initial Dividend Rate and Annual Percentage Yield (APY) may change daily as determined by the Credit Union’s Board of Directors. Currently, the APY is 3.65% and Dividend Rate is 3.59% for the High Yield Business Savings Account with a minimum balance of $50,000.00. The APY is 1.05% and Dividend Rate is 1.045% for amounts under $50,000.00.
MINIMUM BALANCE: The minimum balance required to open a High Yield Business Savings Account and to earn dividends of 3.65% APY on such account is $50,000.00 in new money. New money is described as funds that have not been on deposit in a First Entertainment Credit Union Account within the past 30 days. Existing funds may be added after the account is opened. If the balance falls below $50,000.00, the rate will revert to 1.05% APY.
OVERDRAFT PROTECTION: This account may serve as an overdraft protection source for my checking account.
LIMITATIONS: Only one (1) High Yield Business Savings Account can be opened under a particular taxpayer identification number. The terms of this account can be amended or the account can be terminated by you in accordance with the terms of the Account Agreement.
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Branches are only accessible for those cleared for access.
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To be eligible for Zelle®, you must be a member for at least 90 days. To send or receive money with Zelle®, both parties must have an eligible checking or savings account. Zelle® and the Zelle® related marks are wholly owned by Early Warning Services, LLC and are used herein under license.
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Equal Housing Opportunity