NCUA - First Entertainment Credit Union

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PRESIDENT’S
MESSAGE
Bucking the trend again with
good news and plenty of growth.
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2011 was a year of growth and new opportunities for First Entertainment. We
started with the relocation of our Valencia branch to the Promenade Shopping
Center in Santa Clarita. This move got an enthusiastic thumbs-up from our
members. So much so, that in just 12 months we outgrew the new space and
will be looking to relocate in 2012 to a larger branch location.
Throughout the year, we offered members a number of products and services
to improve their financial life. Among these was our annual Debt Consolidation
Loan, real estate and auto loan promotions, and a highly successful summer
auto loan refinance promotion tied to our sponsorship of Santa Clarita’s
Concerts in the Park.
We continue to look for ways to improve delivery of products and services
through technology. Around mid-year, we launched our free Mobile Banking
App, which has proven to be as popular as it is convenient.
In August, we opened our first West Valley branch in Encino and members have
shared that they love the convenience, not to mention the easy parking, free
WiFi, and gourmet coffee. To support the community around our new location,
we worked with Radio Disney to provide financial education seminars at local
elementary schools in the Encino area.
More than 8,000 new members joined our credit union in 2011. This was due
in part to the Bank Transfer Day movement in November. To get an idea of the
swell in discontentment from bank customers, consider this: normally we open
about 500 new accounts per month. In October, we opened 1,041 and in
November, we opened 1,262. Consumers voted with their feet to find an
Alternative (and less expensive) Way to Bank.
Number-wise, the credit union continues to be sound and healthy. At press
time, assets were approaching $900 million and Capital, our reserves to
cover unanticipated expenses, was just over 9%. During the year, we were
audited by both State and Federal auditors as well as our own independent
auditors. I’m pleased to tell members that we once again completed all of these
examinations successfully.
At a time when many organizations are struggling, we’re happy to report that
First Entertainment continues to thrive. We expect 2012 to be another great year
for the credit union and look forward to making your membership memorable!
T H E S H O W
Charles A. Bruen
President/CEO
LOCATIONS
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HOURS
A L L B R A N C H E S : M-Th 8:30 am to 5:00 pm
Fri 8:30 am to 6:00 pm
B U R B A N K , E N C I N O, M I R AC L E M I L E ,
S A N TA C L A R I TA & S T U D I O C I T Y B R A N C H E S:
Sat 9:00 am to 2:00 pm
M A I N O F F I C E
6735 Forest Lawn Dr., Hollywood
B U R B A N K
2520 Olive Ave.
C U L V E R C I T Y
Sony Pictures Plaza
10000 West Washington Blvd.
E N C I N O
17656 Ventura Blvd.
M I R A C L E M I L E
5750 Wilshire Blvd.
P A R A M O U N T S T U D I O S
Mae West Building
(This branch restricted to individuals with studio lot access.)
S A N T A C L A R I T A
27093 McBean Parkway
S A N T A M O N I C A
2425 Colorado Ave.
S T U D I O C I T Y
4067 Laurel Canyon Blvd.
W A R N E R B R O S . S T U D I O S
Building 19
(This branch restricted to individuals with studio lot access.)
First Entertainment
T O L L F R E E : 8 8 8 . 8 0 0 . 3 3 2 8
www.firstent.org • mail@firstent.org
www.facebook.com/
FirstEntertainment
Autoland Auto Buying Service
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@Firstent
Armstrong & Associates Insurance Services
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First Entertainment Investment Services
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Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
NCUA
National Credit Union Administration, a U.S. Government Agency
Federally Insured by NCUA
up to at least $250,000
Cover Photo: Tom Keller Photography. The information in the Show is as
current as possible. However, the credit union reserves the right to add,
change or delete services. All rates and terms are subject to change without
notice. the Show is published quarterly by First Entertainment Credit Union.
Questions or comments should be directed to: Roy MacKinnon, Vice President
Marketing • rmack@firstent.org

PROFILE
William“Rocky”Vanoost
Lead Character Animator
Blur Studio
Member
• First Entertainment Credit Union (4 years)
My experience here
has been300,000
times better
than the big bank!
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He stood up to bullies in grade school.
He moves through space and time
tackling problems and leaving a wake
of solutions. He lives in two and three
dimensions and brings the inanimate to
life. Super-human? Magical conjurer?
Yes, indeed. William “Rocky” Vanoost
seems somehow related to the very
things he brings to life as Lead
Character Animator at Blur Studio.
Rocky (a nickname forged during his
days of defying bullies) started his
profession in typical-kid fashion:
watching cartoons and drawing. “I’ve
loved cartoons ever since I was a kid.
I used to draw a lot growing up.” This
led to working at the local public access
TV station, shooting a few TV programs,
and doing an occasional sketch
comedy. “Then, when I was trying to
figure out what to do for a living and
what to major in at college, I couldn’t
really decide. And my uncle said,
‘Well, you love this animation stuff,
you draw all the time, why don’t you
do that?’” Until then, Rocky never
considered animation as something
people actually got paid for. “It never
struck me that people do this for a
living. I thought, ‘That’s just something
I do with my free time.’”
These days, free time is at a premium.
After studying animation at Columbia
College in Chicago, it was game on
when Rocky got hired at a gaming
studio where he’d interned. From there,
life became a wonderful blur when Blur
Studio in Venice saw his reel and reeled
him in. As Lead Character Animator,
Rocky describes himself as a type of
“lieutenant” supporting the animation
supervisor. He ensures the animators
have everything they need and that the
shots are getting done. “If there are
problems, I’m the one who deals with
them. I make sure that this prop or
character is getting done. I interface
with the other departments to make
sure that if someone needs something,
they get it in a timely manner – it’s a lot
of herding cats.” He also troubleshoots
technical issues. “If a rig is broken, or
there’s something that the animator
needs in the character rig to complete
the shot, I take care of it.” He also
wrangles software if there are constraint
issues or compatibility problems in the
programs, or as Rocky put it, when
“two programs might not be ‘working
nice’ together.”
‘‘‘‘
On top of all of the organizational
duties, Rocky still pulls his weight
animating a full load, just like the
other animators. (This is where the
“super-human” comes in.) The
animation process starts with a script
that goes to the concept department
to become a storyboard. From there,
Rocky and his teammates roughly
block it out in the 3D space, using
cameras and 3D software. “We create
a little rough movie based on the script
and storyboards.” This is the first of
three passes (typically). “We refine it in
the second pass, addressing notes
from the director or client, and then
we take it to our final pass and finish
everything up.”
Rocky describes his time at Blur as a
great deal of work – and play. “It’s one
of those things where you wake up in
the morning and you realize that you’re
getting paid to come into a place filled
with really fun, creative people and
essentially play with action figures all
day,” he laughs. “It’s a lot of hard work,
but it’s also a lot of fun to work at a
place like Blur. It’s really creative and
fast-paced. We’re working on a lot of
different genres, so it’s never boring.”
Recent projects include game trailers for
Star Wars: The Old Republic and Prey 2,
animating the FOX NFL robot, and the
creating the opening credits for The Girl
with the Dragon Tattoo.
So how did the animator get drawn
to First Entertainment? “When I moved
out here, I was a customer of a big
bank in Chicago. At the time, they
didn’t have branches out here, so that
wasn’t an option. Our HR person
highly recommended the credit union,
and once she started showing me all
of the information, how great the
checking and savings were, and the
rates and everything, I was pretty much
sold. I love the fact that everything is
just so easy and very friendly for the
members. It doesn’t seem like
First Entertainment is trying to screw
us every way it can, to put it bluntly.
There are no hidden fees. No BS hiding
around the corner. I don’t have to worry
about anything. Everything is very clean
and clear cut. It’s really nice. When I
first got my auto loan, I had done it
through the dealership, which was a
bad idea. I eventually brought
the loan to First Entertainment and
refinanced it. I also took advantage of
their consolidation loan. My experience
here has been 300,000 times better
than the big bank!”
So how does Rocky view the future of
animation? He starts with keeping an
eye on the past. “You can learn from
what’s been done before and apply that
to what you’re doing now when you’re
breaking new ground. In terms of
technology, it’s hard to predict what’s
coming because it seems to grow
exponentially. You just need to learn as
many new tools as you can, and try to
stay on top of things. But animation,
essentially, is what the ‘Nine Old Men’
Disney animators called ‘the illusion of
life.’ That’s what you’re creating. It’s
about understanding emotion and
movement and being able to imbue
your characters with that. Good work
is about the story and good characters.
Those are the most important things.
That’s what I mean about keeping an
eye on the past while you’re looking
to the future. Because you can’t rely on
all of the technology to tell the heart
of the story.”
Thank you, Rocky, for the fascinating
peek into the world of animation. And
for bringing First Entertainment to life in
such a colorful and candid way!
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T H E S H O W

Once It’s Read ...
It’s Time toShred!
Member Shred Day is
Saturday, February 25, 2012
Member Shred Day is back!
It’s a new year and a new
reason to rid yourself from all
that clutter and paperwork that
has been piling up.
Just bring your papers,
receipts, unwanted credit card
offers, confidential information
– anything paper – to our
Burbank branch on Saturday,
February 25 th . Recall, one of
the most respected and secure
information destruction service
companies in the industry,
will take care of the rest. Your
paper waste will receive
confidential destruction with
complete privacy and security.
Member Shred Day
Saturday, February 25 th
Burbank Branch
2520 W. Olive Avenue
10 a.m. to 2 p.m. or until
the truck is full. It’s first-come,
first-served.
The Trifecta of IRAs –
Traditional, Roth and ESA Coverdell
The first quarter isn’t just about getting rid of
holiday weight and tackling new resolutions.
It’s also known as “IRA Season;” the season for
boosting retirement accounts and/or taming
one’s tax burden.
At First Entertainment, we’ve got IRAs (Individual
Retirement Accounts) for every goal, all of them
pointed toward a super-secure happily-everafter.
These IRAs, along with our IRA Term
Savings Certificates, are secured with their own
insurance up to $250,000 from the National
Credit Union Association, a U.S. Government
Agency. This $250,000 is in addition to our
regular account coverage of $250,000.
So what’s your IRA style?
*Not intended as tax advice. Please consult your tax professional.
Traditional IRA
A classic pick, Traditional IRAs earn dividends
on all account balances. Another perk? They’re
often tax-deductible in the year of contribution
and the withdrawals are taxed as income. *
Ironically, our Traditional, as well as all our IRAs,
are actually a bit non-traditional. You can open
one with just $1 and there’s no set-up or annual
fee. You can also set up automatic monthly
transfers and customize withdrawals.
Roth IRA
Unlike Traditional IRAs, Roths don’t allow tax
deductions for contributions. But not to worry,
they’ll still show you plenty of love. If you meet
certain requirements, ALL earnings are tax-free
for you or your beneficiaries. * But wait – there’s
more! Certain withdrawals aren’t subject to
No Strings.
No Obligations.
Just Savings.
Looking for a new car or truck, but don’t have the time to hit
the dealerships? Well look no further than Autoland! Having
partnered with First Entertainment, Autoland’s experienced
consultants make it easy for you to get the car you want, at
the best possible price, without the stress of shopping from
dealer to dealer on your own.
Simply give your Autoland Consultant the style, color and
options, and they’ll go find you that exact car, at the best
deal they can. Once they’ve found it, you can either take it
or walk away. No strings, no obligations – you have nothing
to lose … well, except perhaps the opportunity to pay more
at a dealership.
How To Get Started
It’s easy! Contact Aaron Bridges, the Autoland Consultant
located at our Main Office on Forest Lawn Drive. Tell him
what you’re looking for and then sit back and enjoy the
results. You can call Aaron directly at 323.845.4436, or
shoot him an email at abridges@autoland.com.
the early distribution penalty, nor are you
required to take minimum distributions after
age 70½. If you’re not able to benefit from
a tax deduction from the Traditional IRA, the
Roth might be just the ticket for you.
Coverdell ESAs
(Educational Savings Accounts)
These education IRAs can help you save
$2,000 per year, per child. There are no tax
deductions for contributions, but there is
a hefty tax benefit. If you meet the specific
requirements, all earnings are tax-free for you
or your beneficiaries if the money is used for
qualifying education expenses.
Start preparing for your future today by opening
your IRA online at www.firstent.org or calling
us at 888.800.3328! To learn more about your
IRA options, the following free informational
brochures are available at any of our branches,
or just give us a call and we’ll mail them to you.
• “Roth IRAs: Answers To Your Questions”
• “Comparing Your IRA Options”
(also available online at www.firstent.org
under our “Savings > IRA” menus)

F I R S T E N T F R E E C H E C K I N G
No Fee. Yes Free.
And an ATM Network that will Kick their Assets.
Our F R E E C H E C K I N G makes a hero of zero. See just how much we can do with nothing!
Value Checking
No fee, no minimum, no problem! *
Advantage Checking
Earn dividends and no fee with minimum balance. †
Teen Checking
No fee, no minimum. **
What Are You Waiting For?
If you’re a CU.online user, own a smartphone and don’t
have the FirstEnt Mobile App yet – you’re missing out.
FirstEnt Mobile is the simplest, “free-est” way to save
yourself hours of time (and gallons of gas) by accessing
your accounts via your phone. Think about it; no more
driving across town to a branch or looking for a Wi-Fi
Hotspot for your laptop. And it’s easy to set up too, just
pick your brand and get going …
iPhone
Download “FirstEnt Mobile” from the iTunes Store.
Android
Download “FirstEnt Mobile” from the Android Market.
Blackberry
Visit m.firstent.org and use the link at the bottom
of the page to download the shortcut for your device.
No Smartphone?
No worries, you can still use our Text Banking
service for Balance and History Inquiries.
Just register your cell phone number at
www.firstent.org/nosmartphone to
enable this service.
And that’s all there is to it.
Access your account, whenever
you want it – literally in the palm
of your hand. Start enjoying the
freedom of FirstEnt Moblie today!
And if you have questions about
using Mobile Banking and
what you can do with it, visit
www.firstent.org/domoremobilebanking.shtml
or call us at 888.800.3328.
Our fee-free debit cards really get around. The others?
Not so much.
Our CO-OP ATM Network: 28,000+
Bank of America ATMs: 18,000
Chase ATMs: 15,000
Wells Fargo ATMs: 12,000
*Value Checking Accounts feature no monthly service fee, no minimum balance requirement, and earns no dividends.
† For the Advantage Checking Account, to avoid a monthly service fee, a minimum daily balance of $1,000 or a combined daily balance of $4,000 between checking and savings accounts is required.
**Teen Checking Accounts available to members ages 13-17, with a parent or legal guardian as joint owners. Joint owners must qualify for an Advantage or Value Checking Account in their own right. If the
joint owners has a First Entertainment Checking Account, it must be maintained in good standing. Teen Checking Accounts have a minimum opening deposit of $1.00, do not earn dividends, and have no
minimum balance requirement.
Use your QR Reader to
visit our Mobile Banking
page! To download your
FREE QR Reader, visit
www.i-nigma.mobi
on your phone.
T H E S H O W F O U R T H Q U A R T E R 2 0

Winner of the Holiday Art Contest!
ThankYou
to E V E RYO N E for
Making UsSmile!
Congratulations to winner Hannah
Watkins whose artwork generated
countless smiles this holiday season.
When we announced our holiday art contest, we
asked you to make us smile. And smiles came from
miles! The submissions brought everything from
warm ahhhs and grins, to wry smirks, and even a
smattering of laugh-out-loud guffaws.
Ultimately, the winning grin came from Hannah,
age 5. Our youngest winner ever! The judges felt this
card captured the joy of the season. Congratulations
Hannah! We hope the $200 Savings Bond made you
smile too.
Our Holiday Art Contest is an annual favorite with
members (and us). The creativity is amazing and we
can’t wait to see what you’ll come up with next year!
Many members, either preparing for
parenthood or already with younger children,
eventually get around to asking me questions
about college savings programs. With the
start of a new year, I thought I’d get ahead
of the curve by discussing the two most
common college saving plans – the Coverdell
Educational Savings Account (ESA), and the
529 College Savings Plan (529) and most
importantly … how they differ.
The Coverdell ESA vs.
The 529 College Savings Plan
To start off with, both plans have some
similar features: contributions are nondeductible,
earnings grow tax-deferred and
withdrawals are tax-free for qualified higher
education expenses. 529 Plans and Coverdell
ESAs are also viewed the same for financial
aid purposes, with both considered the assets
of the custodian (the person who opened the
account), and having their withdrawals by the
beneficiary (the child) not considered taxable
income when used for college expenses.
Both plans can be transferred to another
beneficiary without penalties or fees, and
both plans allow investment choices of stocks,
bonds, mutual funds and term certificates.
However, that is where the similarities end
and the differences – some major – begin.
The Coverdell ESA starts off with a few
advantages over the 529 Plan, including the
ability to use the funds for K-12 and higher
education. You can also make unlimited
changes to asset allocation. Unfortunately,
these advantages are balanced by the
Coverdell’s disadvantages. These include the
ESA’s $2,000 annual contribution limit, its
under age 18 contribution limit, the fact that
you have to use the funds by age 30 or have
them taxed, and finally your Adjusted Gross
Saving for
College?
Income must be less than $95,000 (single)
and $190,000 (joint) to qualify for the
maximum annual $2,000 contribution.
The 529 Plan in turn appears to have
more advantages over the Coverdell. You
can contribute up to $350,000 over the
life of the account, the parent controls the
account assets and withdrawals, there are
no restrictions on when the funds must be
used, there is no income limit to qualify
for contributions, and you may receive a
possible state tax credit/deduction when
funds are withdrawn (depending on the
state). As a result, the 529 Plan is generally
considered a more versatile plan, especially
if you will have other people contributing
money toward your child’s education – as
the $2,000 limit for ESA contributions makes
it more difficult to track when there are
multiple people contributing.
The good news is that you can have both
plans for your children and should you
choose, you can even roll a Coverdell ESA
over into a 529 College Savings Plan. These
plans have a lot of small print and conditions,
so I recommend reading the details for your
state’s 529 Plan, or reading more about the
Coverdell ESA before opening an account
and making contributions.
As always, I’m here to answer any questions
you have about college education savings or
any other financial planning concerns. Give
me a call at 323.845.4434 or email me
today at jeffre.stjohn@lpl.com to set up
a free 30-minute consultation.
The opinions voiced in this material are for general information only and are not intended to
provide specific advice or recommendations for any individual.
Prior to investing in a 529 Plan, investors should consider whether the investor’s or designated
beneficiary’s home state offers any state tax or other benefits that are only available for
investments in such state’s qualified tuition program. Withdrawals used for qualified expenses are
federally tax-free. Tax treatment at the state level may vary. To determine which investment(s) and
strategies may be appropriate for you, consult your financial and/or tax advisor prior to investing.
Jeffre St. John is a registered representative with, and Securities offered through, LPL Financial,
Member FINRA/SIPC. Insurance products offered through, LPL Financial or licensed affiliates.
Not NCUA Insured. No Credit Union Guarantee. May Lose Value.
You’ve
Got
Choices!
Jeffre St. John
CFP ® , LPL Financial Advisor
First Entertainment Investment Services
First Entertainment Credit Union is not a registered broker/dealer and is not affiliated with LPL
Financial. LPL Financial Advisors do not offer tax advice. Please consult a tax professional.
F I R S T Q U A R T E R 2 0 1 2

Annual Meeting & Elections
First Entertainment’s annual membership
meeting and elections will be held at 6:00 PM,
Thursday, April 26, 2012 at our Main Office on
Forest Lawn Drive. Up for election this year are
three (3) positions on the Board of Directors,
each with a three-year term. Also up for
election is one (1) Supervisory Committee
position, also with a three-year term.
Nominations for all open positions must be
made by petition. All eligible signers of the
petition must be individuals, members in good
standing of First Entertainment Credit Union,
and at least 18 years of age. Such petitions
must be signed within 11 months prior to the
Annual Meeting by at least 500 members.
Petitions must be delivered (or postmarked)
to the Credit Union, Attn: Nominating
Committee, PO Box 100, Hollywood, CA
90078-0100 no later than March 1, 2012.
If there is only one nominee for each position
to be filled, the election will not be conducted
by ballot and there will be no nominations
from the floor. Only one vote per member
is permitted.
F I R S T Q U A R T E R 2 0 1 2

010112
P.O. BOX 100 • HOLLYWOOD, CA 90078-0100
Your savings federally insured to at least $250,000
and backed by the full faith and credit of the United States Government
NCUA
National Credit Union Administration, a U.S. Government Agency
Federally Insured by NCUA
up to at least $250,000
the
11 For
T E L L M E M O R E A B O U T
S A V I N G S
L O A N S
E S E R V I C E S O T H E R S E R V I C E S
• First500, Money Market • Vehicle, Personal • Online Banking • Family Membership
Accounts & Term Savings & Secured Loans • Mobile Banking • Financial Planning
Certificates
• Home Purchase, • Online Billpay • Deposit by Mail Envelopes
• Checking Services & Refinance & Home • Electronic Statements • Travel Services
Debit Card
Equity Loans
• Email Alerts
• Theme Park Discounts
• IRAs & Health Savings
• Discount Legal Services
Accounts
• • • • • • materials, email marketing@firstent.org. Include your full name and mailing address. • • • • • •
H O L I D A Y H O U R S First Entertainment will be closed in observance of the following holidays:
Monday, January 16 th , Martin Luther King, Jr. Day Monday, February 20 th , Presidents’ Day
P R S R T S T D
U . S . P O S T A G E
P A I D
P E R M I T N O . 8
NORTH HOLLYWOOD, CA
Unlock Greater Convenience with Shared Branches
Out and about and not sure where our nearest
branch is? That’s where Credit Union Service
Centers (CU Service Centers) come in.
As part of their network, First Entertainment
is linked with 400 other credit unions, kind
of like one big happy financial family. What’s
the benefit? How does being able to walk into
another credit union’s branch to access your
First Entertainment account sound? Can you
imagine wandering into Chase or B of A to
do some banking with Wells Fargo? Not
exactly. But that’s the magic of credit union
shared branching.
Need a branch but nowhere near us? Relax. We’ve got you covered.
Branches-away-from-branches can do:
• Deposits and withdrawals
• Loan payments and advances
• Visa and/or MasterCard cash advances
Most locations also offer:
• Transfers between sub-accounts
• Statement printouts
• Check withdrawals
• Faxes and photo copies
• Money orders and traveler’s checks
• Notary services
Using a CU Service Center is easy. All you
need is the name of our credit union, your
account number, and a valid, governmentissued
photo ID.
All credit union services may not be available at all CU Service Center locations. Not all members qualify for CU Service Center access. Call the credit union for details.
If you haven’t tried a shared branch, you’re
in for a pleasant surprise. Whether on
vacation, on location, or just down the street
and need the convenience of here-and-now
banking, give it a go. It’s like increasing the
number of our branches exponentially! To
take advantage of this wonderful member
benefit (and 28,000+ ATMs in our
network) use:
• Our ATM/Shared Branching Locator
at www.firstent.org.
• The ATM Locator link within our FirstEnt
Mobile Banking App
• The Shared Branching site:
www.cuswirl.com/members-access
W W W . F I R S T E N T . O R G
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