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First Entertainment Credit Union : ウィキペディア英語版 | First Entertainment Credit Union
First Entertainment Credit Union (or First Entertainment) is a state chartered, natural person (retail) credit union – a cooperative financial institution that is owned and controlled by its members and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members.〔CUNA Model Credit Union Act: Sec. 1752 (2007)〕〔CUNA Model Credit Union Act: Sec. 1757 (2007)〕〔Sullivan, Sheffrin (2003)〕 Headquartered in Hollywood, California, First Entertainment Credit Union is regulated under the authority of both the California Department of Financial Institutions (DFI) and the National Credit Union Administration (NCUA), an agency of the U.S. federal government. == History ==
First Entertainment Credit Union was founded by employees of Warner Bros. Studios in 1967 – opened in a small office on Warner Bros. lot with only $40 in assets. First known as the Warner Seven Federal Credit Union, the 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, became the Columbia/Warner Bros. Employees Federal Credit Union. As the credit union grew, so did the number of those eligible for the services offered. Now able to take on more entertainment-based companies, the organization realized that a new name was needed so it would better define their expanded field of membership. In 1984, the credit union was renamed First Entertainment Federal Credit Union. Following another merger, this time with Screenland/MGM Employees Credit Union, First Entertainment’s assets nearly doubled in size – from $40 million to $73 million. The vigorous growth continued through the 1990s as the institution merged with A & M Records Employees Federal Credit Union, Six Flags Employees Federal Credit Union, Las Vegas Credit Union, and Paramount Studios Employees Credit Union. In an effort to better serve the entertainment industry as a whole, as well as serving the steadily increasing membership, the credit union switched from a federal to a state charter. The institution, now known as First Entertainment Credit Union, saw its assets surpass $400 million in 2002. As of August 1, 2014, the credit union serves almost 70,000 members and operates 10 branches in the Los Angeles area. Two of those branch locations are on studio lots at Warner Bros. and Paramount, and a third studio location can be found at Sony Pictures. The credit union now manages more than $1.1 billion in assets.
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