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CREATIVE ARTS SAVINGS AND CREDIT UNION GETS GREEN LIGHT TORONTO, June 24, 2008 - Canadian artists, and film and television industry professionals, are celebrating a decision that gives approval to incorporate Ontario's newest credit union, the Creative Arts Savings and Credit Union. This credit union 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 credit union's 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. Once that takes place the credit union will be prepared to offer a full range of financial products and services. "The Creative Arts Savings and Credit Union is an idea whose time has come," said Steve Mumford, Chief Executive Officer of Creative Arts. "It says something about the strong fundamentals of our business plan that our proposal would be approved in such uncertain financial times. Now artists, and other entertainment industry professionals, can look forward to being treated with the respect they deserve." ACTRA Toronto is the largest organization within ACTRA, representing over 11,000 of Canada’s 21,000 professional performers working in the English-language recorded media in Canada. As an advocate for Canadian culture since 1943, ACTRA is a member-driven organization that continues to secure the rights and respect for the work of professional performers. - 30 - For more information: |
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