HOLLYWOOD, Calif.–With two major strikes in Hollywood now settled, First Entertainment Credit Union is providing an overview of the assistance it said it provided to affected members, ranging from millions of dollars in financial assistance to meals.
The strikes by the Writers Guild of America (WGA) and the Screen Actors Guild and American Federation of Television and Radio Artists (SAG-AFTRA) put thousands of people out of work, many of them behind-the-scenes workers who are served by First Entertainment Credit Union.
“As the entertainment industry makes its return, First Entertainment remains committed to our mission of providing financial solutions to the creative community,” said President and CEO Stephen Owen in a statement. “We have always tailored our products and services specifically to meet the needs of the entertainment industry; it’s why this community trusts us. We take pride in prioritizing the necessary resources to make certain our members achieve their financial goals.”
During the strike, First Entertainment Credit Union said it was actively involved in assisting members by:
- Funding $1 million in emergency loans, loan deferments, fee waivers and reversals per month during the strike to help members overcome temporary monetary constraints.
- Welcoming nearly 200 new members who joined First Entertainment seeking financial aid and guidance during the strike.
- Handing out hundreds of bags to-date stuffed with food to members during the holiday season. First Entertainment team members donated more than 2,000 non-perishable items.
‘Hyper-Focused’
“Our support has always and will always be hyper-focused on our entertainment community,” said Owen. “Since our inception, First Entertainment has been a fundamental part of Hollywood. We extended our support to the entertainment community through partnerships such at the Motion Pictures & Television Fund (MPTF), and to those who are the core of the studio communities and were also impacted by the strikes.”
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