TORONTO — Canadian artists, film and television industry professionals are celebrating the recent approval to incorporate Ontario's newest entity, the Creative Arts Savings and Credit Union.
Creative Arts is poised to begin operations after it raises $2.5 million in startup capital through investment shares, according to the Alliance of Canadian Cinema, Television and Radio Artists-Toronto, which represents more than 11,000 of Canada's 21,000 professional performers. After raising capital, the credit union will be prepared to offer financial products and services tailored to working artists.
"This is great news for artists," said Peter Keleghan, Creative Arts board member and artist whose film roles include those in Made in Canada, The Newsroom and Billable Hours "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."
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The credit union's approval marks a key milestone in a long process spearheaded by ACTRA along with the Directors Guild of Canada, International Alliance of Theatrical Stage Employees, National Association of Broadcast Employees and Technicians and other film and television industry guilds and unions.
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