We are proud to unveil a game-changing service spearheaded by SAG-AFTRA that will forever change how the entertainment industry gets paid.
Delivery of residual payments via direct deposit will finally become a reality in 2017. The program will begin with select payment partners and our eventual goal is to offer electronic processing of all residuals. This new service will not only add much-needed efficiency to the financial lives of performers who depend on these payments, but will also be another major step in SAG-AFTRA’s eco-friendly green initiative.
It’s an exciting moment for all of us and showcases SAG-AFTRA’s leadership in the digital era. One of our union’s core principles is the timely and speedy delivery of payments to members. Two years ago we brought the average residuals processing time to under 30 days. This year, we’ll take the next step and deliver residuals faster than ever before.
At the heart of this groundbreaking system is software that SAG-AFTRA developed in partnership with Exactuals, a Los Angeles-based payments software company. Exactuals will serve as a third-party broker facilitating transmission of data and funds between participating studios and payroll houses to SAG-AFTRA and its members. Processing of funds will be handled by Exactuals through City National, which will electronically transfer funds to member checking accounts at any domestic bank or credit union.
Best of all, this exciting new service will save countless hours of staff time that can instead be devoted to serving other member needs.
We are currently beta testing the software and will roll it out to the membership over the course of this year. We will keep you informed and will let you know how to sign up for the service online at SAGAFTRA.org.
With your help, SAG-AFTRA will continue to expand the boundaries of what is possible in service to our membership.
Gabrielle Carteris, President