First Entertainment Credit Union Members Earn $100K and Counting in Rebates Through Home Rewards Program

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First Entertainment puts first-time homebuyers on the path to homeownership with successful new mortgage program

First Entertainment Credit Union implemented the Home Rewards Program with the goal of making homeownership more feasible. To date, First Entertainment members have received $109,000 in rebates, adding significant value to the traditional buying and selling process.

Members of First Entertainment Credit Union, the premiere financial partner to creators and workers of the entertainment industry, have earned more than $100,000 in rebates through the credit union’s Home Rewards Program, allowing more homebuyers in the Greater Los Angeles Area the opportunity to get into their dream home.

“We implemented the Home Rewards Program with the goal of making homeownership more feasible, by giving our members access to the resources needed to take the first step,” said Bill Walker, Vice President of Real Estate for First Entertainment, considered one of the most respected credit union real estate lending minds in the industry. “To date, our members have received $109,000 in rebates, adding significant value to the traditional buying and selling process.”

In addition to the Home Rewards Program, First Entertainment has loan options available that can waive private mortgage insurance (PMI), the additional cost required of first-time buyers by lenders if they are unable to provide a 20% down payment. By waiving this fee, homeowners have been able to save more money while qualifying for a tax deduction on any interest paid on the loan. Enrollment in the Home Rewards Program is free and anyone who signs up will have access to Multiple Listing Service (MLS) listings, be paired with a realtor in the area where they are searching, and may qualify for a 20% commission rebate which can help pay for the closing costs.

“By designing loan products and services that speak to the unique needs of first-time homebuyers, we have helped more of our members become homeowners,” said Walker. “For 2023, we are even more committed to making the dream of sustained homeownership in Los Angeles attainable by providing our members with the lending programs, financial guidance, and support they need to get them into a new home.”

Since its launch, First Entertainment’s Home Rewards Program has closed 31 transactions totaling $23 million in escrow volume.

First Entertainment Credit Union membership is open to employees, their families and retirees of companies in the entertainment industry, along with Los Angeles County residents and eligible businesses.

About First Entertainment Credit Union
Since 1967, First Entertainment Credit Union has served creators in the entertainment industry. Headquartered in Hollywood, Calif., First Entertainment provides banking and financial services through its 8 branches in Los Angeles County – including the Warner Bros., Sony, and Paramount studio locations
–and manages $2 billion in assets with a team of more than 220 employees. First Entertainment provides financial solutions to nearly 90,000 members through accessible 24/7 digital banking, unique entertainment-industry financial products, services, and ATMs. Visit FirstEnt.org.

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Molly Holcomb
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