Nymbus, a modern banking platform for U.S. banks and credit unions, has announced that First Entertainment Credit Union has successfully launched CineFi, the first fully digital credit union created exclusively for the entertainment industry in the Atlanta area.
Since 1967, First Entertainment Credit Union has served creators in the entertainment industry. Headquartered in Hollywood, Calif., the credit union provides banking and financial services through its branches in Los Angeles County – including the Warner Bros., Sony, and Paramount studio locations – and manages more than $2 billion in assets. To expand access to financial services within an entertainment community that is expanding across the U.S., First Entertainment Credit Union teamed up with Nymbus to launch CineFi, the first and only fully digital credit union created for TV, film, music, gaming, content creation, and influencer professionals. As a division of First Entertainment Credit Union, it combines decades of entertainment industry banking expertise with a future-ready digital platform tailored to the needs of creatives.
“Credit unions are looking for new ways to drive growth and differentiate themselves in competitive markets while also delivering unique services to members,” said Jeffery Kendall, chairman and CEO of Nymbus. “Our vertical banking solutions enable credit unions like First Entertainment Credit Union to quickly launch specialized offerings that serve unique segments, create new revenue streams, and build more connected film and TV communities. We’re excited to see CineFi launch and demonstrate how the right technology can turn market opportunities into real business results.”
With Nymbus’ vertical banking solutions, First Entertainment Credit Union launched CineFi to serve entertainment professionals and associated trades, including above- and below-the-line workers, content creators, and gaming professionals. Membership is designed for anyone whose career revolves around the creative industry. Unlike traditional banks, CineFi is built specifically for the entertainment industry. Its products and services are designed for the unique financial realities of creative professionals, including variable income, freelance, gig work, and project-based payments.
“Nymbus has been instrumental in bringing our vision for CineFi to life,” said Stephen Owen, president and CEO of First Entertainment Credit Union and CineFi. “We exist to help the entertainment and creative communities thrive with their finances. Our partnership with Nymbus has enabled us to create a truly digital-first experience that serves our community’s specific needs wherever they may go for work. This represents the future of specialized banking – combining deep industry knowledge with innovative technology.”
