Coogan Accounts

State child performer laws require a trust account for working child performers, with 15% of the child’s gross earnings deposited into the trust account to be held for them until they reach the age of majority. A Coogan Trust Account complies with all state child performer laws/requirements throughout the United States.

ActorsFCU is among the few financial institutions that can provide what you’ll need, with everything in place to accept direct deposits into these accounts. All you have to do is set up the account and notify the employers.

At account opening, you’ll receive a “Statement of Guardian” form with instructions for making deposits by check or electronically. For New York performers, additional permit documentation may be required. Please contact your assigned representative during onboarding.

You may also choose to open a High-Yield Certificates. Funds may be transferred from the Coogan Account to open a share certificate account ($500 minimum) at any time.

In a Trust Account, the minor is the Beneficiary, and the parent/guardian is the Trustee. There can be no withdrawals until the minor reaches the age of majority (usually 18 years of age but as mandated by law per state). The Trustee may transfer funds to an equivalent account before that time.

We do not require the minor to have a union affiliation to open a Coogan account. Once a Coogan account is opened, the child's immediate family (e.g., parents & siblings) also become eligible for credit union membership.

Membership Requirements

• Signed/completed application (with SSN for all parties)

• Copy of the minor’s birth certificate

• Parent/Guardian's government-issued photo ID (must be current)

• Proof of address for the custodian(s) (e.g., lease or utility bill)

How to Open a Coogan Account

• STEP ONE: Complete our fillable PDF application
  • The custodial certificate must be completed by the minor’s legal guardian(s).
  • Please provide all required personal information for the minor and custodian(s) on the membership application.
  • You may leave the “Member Eligibility” section blank.

• STEP TWO: Print your completed application & sign on the bottom of pages 2, 3, & 4. We do not accept eSignatures for new membership applications.

• STEP THREE: Submit your application and required documents via Secure Email*
• Please CLICK HERE to email us at invite@actorsfcu.com to request a secure file transfer.
• We will email you back within 1 to 3 business days with an encrypted email.
• Once you receive our encrypted email, simply reply with the following attachments:
  • Completed application and custodial certificate form with wet signature(s)
  • Copy of Birth Certificate for the minor
    • NOTE: The image provided must be a clear copy of the original certified birth certificate.
  • Copy of Valid Government-issued photo ID(s) for custodian(s)
  • Proof of address (e.g., utility bill or lease agreement) if the address on the custodian’s photo ID does not match the address listed on your membership application.

• STEP FOUR: Once we have received the completed application and all supporting documents, the package will be assigned to a new account representative.  You will receive an email with the name and email address of the assigned representative. Please note that incomplete packages will delay the processing time.

• STEP FIVE: Fund your new account.  You must deposit at least $5 to establish membership.