Actors Federal Credit Union Overview and Benefits

Actors Federal Credit Union is a not-for-profit financial cooperative that has been serving its members since 1935. It was originally formed to provide financial services to the entertainment industry, but it has since expanded to serve a wider community.

With over 80 years of experience, Actors Federal Credit Union has built a reputation for providing excellent service and competitive rates.

One of the benefits of being a member of Actors Federal Credit Union is the opportunity to earn higher dividends on your savings. As a not-for-profit, the credit union is able to pass the savings on to its members.

Actors Federal Credit Union offers a range of financial products and services, including checking and savings accounts, loans, and credit cards.

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Actors Federal Credit Union is a cooperatively run, not-for-profit financial organization chartered in 1962 for the benefit of the members of Actors’ Equity Association.

The credit union is governed by a board of volunteers, elected by and from its membership, and the Credit Committee, which oversees the issuance of loans, is also composed of volunteers elected by the membership.

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Members are encouraged to serve on committees, run for office, and vote at the annual meeting, usually held in March.

Immediate family members, including spouse, children, siblings, parents, grandparents, and grandchildren, are eligible to join the credit union if the primary member is a paid-up member of Equity, SAG, AFTRA, AGMA, or one of the credit union's 100+ member organizations.

Money deposited in members' Savings (Share) Accounts is used for loans to other members, and interest received on those loans is used to pay dividends on savings.

Only the office staff is paid, as the Board of Directors and the Credit Committee volunteer their time.

The credit union cares about and serves only the Entertainment Community, offering better deals than commercial institutions, such as lower rates, more cost-effective services, and overall better service.

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Actors Federal Credit Union offers a wide range of financial services, including credit cards, consumer loans, and auto loans. They also provide musical instrument loans, which can be a great option for musicians.

ActorsFCU has a strong presence in the US, with five branch offices located in New York City, Los Angeles, North Hollywood, and Chicago. They also own and operate 270 ATMs in NYC's five boroughs, Long Island, and New Jersey.

One of the unique services ActorsFCU offers is Coogan Trust and UTMA/UGMA Accounts, which are designed to protect the earnings of child performers. By law, 15% of a young performer's gross earnings must be saved in these accounts, which are locked and not available for withdrawal until the minor reaches the age of 18.

To find out if you're eligible to join Actors Federal Credit Union, you need to check their eligibility criteria. You can do this by visiting their website or contacting their customer service.

Eligibility is determined by specific groups and organizations, such as the entertainment industry.

ActorsFCU offers a wide range of financial services, including credit cards, consumer loans, and auto loans.

They have a variety of consumer loan options, such as balance transfer, cash advances, and personal loans. These loans can be used for things like income tax payments or vacation expenses.

ActorsFCU also offers special loan options, like computer and musical instrument loans, which can be beneficial for those in the entertainment industry.

In addition to loans, ActorsFCU provides credit cards and other financial tools to help members manage their finances.

ActorsFCU has five branch offices across the country, located in New York City, Los Angeles, North Hollywood, and Chicago.

They own and operate 270 ATMs in NYC's five boroughs, Long Island, and New Jersey, making it convenient for members to access their funds.

ActorsFCU is also part of the CO-OP Network, which allows members to use ATMs at participating credit unions and banks.

One of the unique services offered by ActorsFCU is Coogan Trust and UTMA/UGMA Accounts, designed to protect the earnings of child performers.

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Actors Federal Credit Union has a relatively low Texas Ratio of 0.93%, indicating that it has sufficient capital and reserves to absorb potential loan losses.

The credit union had $217,288 in non-current loans and $61,000 in owned assets as of June 30, 2024, but it also had $28,166,820 in net worth and $1,815,202 in loan loss reserves to cover these potential losses.

Actors FCU has a net worth of 9.14%, which is lower than the BestCashCow average of 13.93%. This means that the credit union's total assets exceed its total liabilities by a smaller margin.

Here's a comparison of Actors FCU's net worth with the U.S. average:

This comparison suggests that Actors FCU may be a bit more cautious with its lending practices or has a different risk assessment strategy than the average credit union in the U.S.

Actors Federal Credit Union has a significant presence in the US, with multiple locations across the country.

You can find their primary location on the 14th floor of 165 West 46th Street in New York, NY 10036.

Their other locations include 322 West 48th Street in New York, NY 10036, 557 West Randolph Street in Chicago, IL 60661, 5757 Wilshire Boulevard in Los Angeles, CA 90036, and 5636 Tujunga Avenue in North Hollywood, CA 91601.

Here's a list of their locations for easy reference:

We have several locations across the US, with the primary location being at 165 West 46th Street on the 14th floor in New York, NY 10036, US.

You can get directions to our primary location by clicking on the "Get directions" link.

We also have locations in other major cities, including Chicago, Los Angeles, and North Hollywood.

In Chicago, you can find us at 557 West Randolph Street on the 1st floor in Chicago, IL 60661, US.

If you're on the West Coast, we have locations in both Los Angeles and North Hollywood.

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Here are all our locations:

In the past year, several locations have undergone significant updates, including the renovation of the historic downtown area, which has seen a 30% increase in foot traffic.

The downtown area's renovation included the installation of new streetlights and a public art program, which has added a vibrant touch to the area.

The city's main square has also been updated, with a new fountain and seating area that has become a popular spot for locals and tourists alike.

The nearby park has seen a 25% increase in visitors since its playground was renovated and new picnic tables were installed.

The city's transportation system has also been updated, with new bike lanes and improved bus routes that have reduced travel times by 15%.

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Actors Federal Credit Union is a financial institution that offers credit union services. Editorial and user-generated content is not provided, reviewed, or endorsed by the credit union.

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