Actors Federal Credit Union

Actors Federal Credit Union (ActorsFCU) is an American federally chartered credit union—a cooperatively run, not-for-profit financial institution, owned and controlled by its members. Based in New York City, New York, ActorsFCU is regulated and insured by the National Credit Union Administration (NCUA),[1] an agency of the U.S. Federal Government comparable to the Federal Deposit Insurance Corporation. It is the 49th largest credit union in the state of New York and the 993rd largest credit union in the nation.[2] It has an overall health score at DepositAccounts.com of a B, with a B+ Texas ratio.[3] Currently led by Daniel Czerniawski, ActorsFCU serves over 22,000 members of more than 190 organizations nationwide with assets of more than $180,000,000.[4] ActorsFCU has 44 full-time employees and 4 part-time employees with a main office and 4 branch offices.

Actors Federal Credit Union
Formation1962
TypeNot-for-Profit Credit Union
HeadquartersNew York, NY, United States
Location
  • 165 West 46th Street, New York, NY. 10036
Official language
English
CEO / President
Daniel Czerniawski
Websiteactorsfcu.com

History

ActorsFCU was incorporated on December 5, 1962.[5] Its initial purpose was to facilitate members of Actors’ Equity Association (AEA) in their pursuit of getting approved for credit. Due to their unpredictable finances and lack of traditionally defined steady employment, actors had regularly been denied this basic, modern necessity. The specific impetus behind the 1962 movement was an incident at a local department store: an AEA member was denied credit specifically due to the fact that he was an actor. This member proceeded to raise the issue at a union meeting and enlisted six men to take up the challenge of starting a credit union for those in the acting profession. These men—Conrad Bain,[6] Anthony Saverino, Robin Craven, Herb Nelson, Theodore Bikel,[7] Angus Duncan, and Bill Ross—formed the Actors Federal Credit Union in 1962 with the help of Leo Schwarz, Field Representative of the New York League of Credit Unions.

In the late 1960s, the credit union issued its first mortgage to actor Jerry Orbach.
1979: Angela Lansbury was welcomed as the ten-thousandth member
1986: merged with Local 700 Motion Picture Editors Guild Credit Union
In the late 1980s: merged with Writers Guild of America, East Credit Union
1991: merged with American Federation of Television and Radio Artists(AFTRA) Credit Union
1998: helped get the Credit Union Membership Access Act (HR-1151) enacted
1999: placed its first ATM and became NYC's number one credit union deployer of ATMs.[8]

In 2002, NYC Council Speaker Gifford Miller and Third District Council member Christine Quinn along with Torrence Allen, delivered proclamations of congratulations to the ActorsFCU. Letters were also presented from New York State Senator Tom Duane and U.S. Senator Hillary Clinton. Public Advocate Betsy Gotbaum issued a proclamation declaring May 7 "Actors Federal Credit Union Day" in New York City, in perpetuity.[9]

Organization

Actors Federal is chartered by the NCUA [10] and governed by a board of volunteers, elected by and from its membership. The Credit Committee, which oversees the issuance of loans to the membership, is also composed of volunteers elected by the membership. Members are encouraged to serve on committees, run for office, and vote at the annual meeting.

Services

ActorsFCU offers a range of account services generally offered by typical financial institutions such as credit cards and consumer loans (including balance transfer, cash advances, computer, union initiation fee, income tax, personal, vacation, and share secured), as well as auto loans and musical instrument loans. It has exempt status conferred by the state to engage in the business of mortgage loan servicing in New York without being registered as a mortgage loan servicer.[11]

Currently, ActorsFCU has five branch offices—two in New York City, including the main office in Times Square, one in Los Angeles, one in North Hollywood and one in Chicago. It also offers a full array of online banking services via its website, actorsfcu.com, and eBranch Online.[12]

ActorsFCU owns and operates 270 ATMs in NYC’s five boroughs, Long Island, and New Jersey and is part of CO-OP Network and PayNet Deposit Network.

Actors Federal is among the few institutions that offer Coogan Trust (SB 1162; CA) and UTMA/UGMA Accounts, designed to protect the earnings of child performers. By law, fifteen per cent of a young performer’s gross earnings must be saved in these accounts, which are locked and are not available for withdrawal until the minor reaches the age of 18.[13]

Membership

Actors Federal’s field of membership is designated by the National Credit Union Administration (NCUA). Membership is limited to individuals who share the common bond defined in the credit union’s charter.[14] Members and employees of specified organizations and their immediate family members are eligible to join ActorsFCU. The definition of “Immediate family members” includes, but is not limited to: spouse/significant other, children, grandchildren, siblings, parents, and grandparents. Any individual who joins the credit union as a family member is entitled to the same membership benefits available to the sponsoring member.[15]

Membership in Actors FCU is limited to members of the following organizations:[16]

Actors’ Equity AssociationActors Fund EmployeesSAG-AFTRA
American Guild of Musical ArtistsAmerican Guild of Variety ArtistsAlliance for Inclusion in the Arts
Allied LiveAmerican Creative Dance Center, Inc.Artichoke Dance Company
Assn. of Theatrical Press Agents + ManagersAtlantic Theater CompanyB1 Model Management
Blue Man GroupBoston Musicians’ AssociationBroadway Cares / Equity Fight AIDS
Camara Dance UnlimitedCareer Transition for DancersChicago Federation of Musicians – Local 10-208
Circle Repertory TheaterCity Center of Music & DramaDancers Over 40, Inc.
DanceUSAThe Dramatists Guild of AmericaThe Episcopal Actors Guild of America, Inc.
FAB Communications, Inc.Folksbiene Yiddish TheatreFractured Atlas Employees
Gay Men's Health CrisisGold Coast EntertainmentGoodman Theatre
Grossbard and AssociatesGuild of Italian American ActorsHartig Hilepo Agency, Ltd.
HelpMeSeeHispanic Organization of Latin ActorsJohn D. Kolenda and Associates
The Lambs, Inc.The League of American Theaters and ProducersLGBT Community Center Employees
Lewis Foods, Inc.Lincoln Center Theater/Vivian Beaumont TheaterLocal 1 I.A.T.S.E. Stagehands Union (NYC)
Local 2 I.A.T.S.E. Stagehands Union (Chicago)Local 4 Theatrical Stage EmployeesLocal 51 The Models Guild
Local 52 Motion Picture Studio MechanicsLocal 161 Script SupervisorsLocal 306 I.A.T.S.E.
Local 476 Motion Picture Studio Mechanics (Chicago)Local 600 Camera PersonsLocal 645 I.A.T.S.E.
Local 700 Motion Picture Editors GuildLocal 702 Lab WorkersLocal 751 Ticket Sellers and Treasurers
Local 764 Theatrical Wardrobe UnionLocal 798 Makeup and HairLocal 802 American Federation of Musicians
Local 829 United Scenic ArtistsLocal 841 CartoonistsLocal B-751 Telephone and Ticket Sellers
Local H-63 Film Workers and ProjectionistsManhattan Theater ClubMarilyn Zitner Management
Michael Howard StudiosMilwaukee Repertory TheaterThe Mortgage Department
MSM ATM Consulting, Inc.NAPAMA (National Assn. of Performing Arts Managers + Agents)New York Neo-Futurists
New York PhilharmonicNew York Shakespeare Festival Public TheaterNew York Women in Film & Television
Night Kitchen Radio TheatreNvision ArtsNYJazz Initiative
On Location EducationPearl Theatre CompanyPig Iron School for Advanced Performance Training
Playwrights HorizonsPeople in the Arts, Inc. (LA)Radian Records
Radio City EntertainmentRiteCheck, Inc.Roundabout Theater Company
St. Malachy’s Parish-NYCSecond Stage Theater CompanySignature Theatre Company
Sisters in CrimeSongwriters Guild of AmericaStage Directors and Choreographers Society
Stella Adler Studio of ActingSteppenwolf Theatre CompanySymphony Space
Tekserve CorporationThe Ridiculous Theater CompanyTheater Communications Group
Theater Development Fund EmployeesTheatre RowThird Millennium Solutions, Inc.
Times Square Alliance EmployeesTwelfth NIght Club, Inc.University/Resident Theatre Association
Upright Citizens Brigade TheatreVineyard TheatreWashington DC Federation of Musicians
Wingspan ArtsWomen’s Project & Productions, Inc.World Dance Theatre
Writers Guild EastWriters’ TheatreZelo Technologies

References

  1. http://researchcu.ncua.gov/Views/creditUnionInfo.aspx%5B%5D
  2. http://www.depositaccounts.com/banks/actors-cu.html#health
  3. based on data from the end of March 2018. http://www.depositaccounts.com/banks/actors-cu.html#health
  4. http://www.depositaccounts.com/banks/actors-cu.html#health
  5. An Actor Prepares... to Work in New York City: How to Master the Business of ... By Craig Wroe, 2004 https://books.google.com/books?id=PovWqXrPXSMC&pg=PA9&lpg=PA9&dq=%22Actors+Federal+Credit+Union%22+Incorporate+%2B+1962&source=bl&ots=9UI1_nfudX&sig=s-rttt2Vi6GSBpyieI56lxytb9A&hl=en&sa=X&ei=XHr8T8bILOuN0QGm6LnVBg&ved=0CEcQ6AEwAzgK#v=onepage&q=%22Actors%20Federal%20Credit%20Union%22%20Incorporate%20%2B%201962&f=false
  6. Bain also served as the organization's first president. "Archived copy". Archived from the original on 2012-04-28. Retrieved 2014-11-12.CS1 maint: archived copy as title (link)
  7. http://www.bikel.com/biography.html
  8. "Archived copy". Archived from the original on 2012-10-14. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
  9. http://www.local802afm.org/publication_entry.cfm?xEntry=1876268%5B%5D
  10. http://www.depositaccounts.com/blog/2012/02/competitive-5year-cd-ira-cd-rates-at-actors-fcu-limited-membership.html
  11. "Archived copy". Archived from the original on 2013-02-16. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
  12. http://www.actorsequity.org/benefits/creditunion.asp
  13. http://www.sag.org/content/coogan-law-full-text
  14. "Archived copy". Archived from the original on 2010-09-19. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
  15. "Archived copy". Archived from the original on 2012-07-11. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
  16. "Archived copy". Archived from the original on 2012-07-11. Retrieved 2012-07-10.CS1 maint: archived copy as title (link)
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