ATLANTA—An effort is being made to launch a credit union here that would serve Atlanta’s entertainment industry.
According to the person behind that effort, music industry veteran Aneesah Bray, if it is successful, Backstage Entertainment FCU would become only the third credit union in the U.S. chartered to serve people working in the world of entertainment.
Bray told the Alpharetta Roswell Herald there is a huge opportunity, saying that Georgia saw more than $6 billion in spending related to just the film industry during 2015. There is also a thriving music and recording industry in Atlanta, too, said Bray.
Bray told the Alpharetta Roswell Herald that the idea of launching a credit union came to her after years of going on tour without handy access to a bank. “I started researching credit unions in 2010 and have been going forward since then,” she told the publication. “Credit union boards are filled with people who are specific to that business, not necessarily specific to finance, even though they will have a finance person on the board.”
Bray said she also sees a need for greater financial literacy among workers in the entertainment industry.
According to Bray, the charter for Backstage Federal, which is to be based in downtown Atlanta, will service an area 25 miles out from the main office.
Currently, the organizers are soliciting letters of support from entertainment companies.