Wow. An actual brand-spanking-new credit union is being formed in Canada!

Canadian artists, film and television industry professionals are celebrating their approval to incorporate the newest credit union in Toronto, the Creative Arts Savings and Credit Union.

It will be a banking institution tailored to meet the needs of working artists and professionals in the entertainment industry.

"This is great news for artists," said Peter Keleghan, Canadian star (Made in Canada, The Newsroom, Billable Hours) and Creative Arts board member. "In the past, traditional banks have tended to overlook our needs. It's high time an institution was created to give artists a leg up, by providing access to the financial services many other people take for granted."

The approval marks a key milestone in a long process that was spearheaded by ACTRA, together with the DGC-O, IATSE, NABET and other film and television industry guilds and unions. Creative Arts is poised to begin operations, after it raises $2.5 million in start-up capital through investment shares.

My take

This is very cool! It's refreshing to read about a credit union being born rather than another one being merged out of existence.

It's reads like a good screenplay—a compelling story with a compelling name and an interesting cast of characters. This is a credit union being built from the ground up to meet the needs of a specific group of people with very specific financial needs. This is what credit unions used to be all about! Good luck Creative Arts Savings and Credit Union.

Tim