Opened in a small office on Warner Bros. lot with only $40 in assets, employees of Warner Bros. Studios founded our credit union in 1967. First known as the Warner Seven Federal Credit Union, our name was changed to Warner Bros. Employees Federal Credit Union in 1970; and following a merger with the Columbia (Studios) Employees Credit Union in 1973, we became the Columbia/Warner Bros. Employees Federal Credit Union.
As the credit union grew it offered services to additional entertainment companies, and soon we needed a name that better defined our expanded field of membership. Thus, in 1984, we became First Entertainment Federal Credit Union. The following year, Golden West Broadcasters Federal Credit Union (KTLA) merged into our family and in 1990, following a merger with Screenland/MGM Employees Credit Union, our assets nearly doubled in size – from $40 million to $73 million!
First Entertainment continued its vigorous growth, A&M Records Employees Federal Credit Union (1993), Six Flags Employees Federal Credit Union (1998), Las Vegas Credit Union (1999) and Paramount Studios Employees Credit Union (2003). In the late 90's a charter change resulted in shortening our name to First Entertainment Credit Union. By the end of 2002, assets had surpassed $400 million! Today the credit union manages nearly $1.3 billion in assets and serves just over 71,000 members. We have almost 400 companies & community partners, from which we gain new members as well as our community charter which covers all of Los Angeles County. We have ten branches in the Los Angeles area (plus thousands of Shared Branching locations) and have grown our workforce team to over 200 strong.
Combining strength, safety and growth, today First Entertainment is the premier financial resource for those in the entertainment business.