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  1. Roy MacKinnon

    First Entertainment Credit Union also offers Coogan Accounts. They are the largest credit union serving employees of the entertainment industry and their Coogan can earn 7% APY on the first $500 in deposits when eStatements are used.

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    Thanks for the good work guys,i am glad to see finally what you have been working on all these months

  3. kathy@Irvine Attorney

    Very informative.

  4. Stevie from Solicitors Sussex

    It’s kind of sad this is neccessary and parents aren’t trusted. But then I suppose some can’t be so it probably is a neccessary law.

  5. Debbie Sikkema

    Yes, most parents are responsible about it, but it really is best to protect our kids this way!

  6. Scott@Chicago Business Attorney

    I think this is a great idea to protect children’s earnings. Too many parent’s in the past have wasted away money their children have worked very hard to earn.

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    Coogan accounts are very interesting. Thanks for the information!

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    Very crazy that parents used to be able to spend their children’s money like that. I am glad that legislation made this a law. It is very much needed.

  9. Mike

    I enjoyed reading this post about What is a Coogan Account? | Your Young Actor. Really interesting. I will come back to visit this blog again.

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    I enjoyed reading this post. You know a lot about What is a Coogan Account? | Your Young Actor. Thanks for these great insights.

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  14. Todd Nelson

    Not all Coogan Accounts from different financial institutions are created equal and there are good reasons why AFTRA-SAG Federal Credit Union is considered the “Coogan Expert”:

    – Open a Coogan Account in 1 day
    – Statement of Trustee issued immediately
    – No monthly service charges
    – Images of Coogan deposits are provided to assist in tracking of minors’ earnings
    – AFTRA-SAG Coogan funds earn competitive dividend rates
    – You can transfer an existing Coogan Account from another institution to AFTRA-SAG
    – Deposits at AFTRA-SAG are insured by the National Credit Union Share Insurance Fund (NCUSIF) to the maximum amount allowed by law

  15. heather

    excellent article! Both Aftra sag fcu and First Entertainment (as roy mentioned above) are excellent resources for prepping your child’s coogan account. Members of childreninfilm.com can connect directly with both Roy and the individuals as ASFCU – members of cif are automatically eligible for admission in to ASFCU and for a $5 flat rate they do everything for you and never charge monthly fees!

  16. Fuller Law Online

    Whoa, I actually didn’t know that. Too bad Coogan had to sue his parents.

  17. Tom Detelich

    Wow – very interesting! Sadly, I’m not surprised to hear this unfortunate story about Coogan, but glad to hear that this account was started to protect other child actors!

  18. Nathan

    Oh so that’s why it’s called coogan. Heard of the story before and seems that something good actually came from such a sad incident.

    For future child actors, ask for a coogan accounts from your parents

  19. JS

    I set up a Coogan Account in CA at the Bank of America for my son when he was about a year old (he’s now 4) and we then subsequently decided not to put him in the entertainment industry, so all that is in the account is $25 initial deposit we made (he never earned anything). I want to close the account b/c we are now after 3 years incurring fees but it’s unclear whether or not I’m allowed to close the account. What do I do with the $25 since it is in his account. I don’t want to keep it open. Is it legal for me to close the account? Thanks!

  20. Kamil Wojtys

    I was looking for information about Coogan account and found it . Thank you Debbie !

  21. Debbie Sikkema

    Hi Teresa,
    Thanks for posting. I did read your post and commented on it there. Glad you are having such great success! Good luck. –Debbie

  22. mark

    whoah this blog is great i really like reading your articles. Stay up the good paintings! You already know, lots of people are hunting round for this info, you could help them greatly.

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    It’s actually a great and helpful piece of info. I am satisfied that you simply shared this helpful information with us. Please keep us informed like this. Thank you for sharing.

  25. Sarah@National Earnings Savings Trust

    You have explain it very very well but if you can add some photos that would be awesome because some people like me need graphical representations as well 😉

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  28. Teresa Roberts

    This was a life saver! I’ve been searching the net trying to find a bank to open one. All the banks around here give me funny looks when I ask about blocked trust account. I’m going to be living off savings on our trip to LA and wanted to already have an account open. I was afraid I’d get out there and have $500 dollar min requirement to open an account. I found the AFTRA-SAG FCU webside I can open an account from here and be ready to go when we go out there. $50 min is a RELIEF!!! Thanks for the help everyone. ( i’ll worry about interest later when she starts making money. Just want to get one open!)

  29. Debbie Sikkema

    Hi Teresa,

    So glad my site was a help to you and glad you got her Coogan account setup. I know exactly what you are saying!

    To your success,

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  31. Sara

    HI Debbie – If a minor is still nonunion & working on a nonunion shoot – but being paid – do they need to have a coogan account?

  32. Valerie Fee

    My infant daughter was just signed by a talent agency. Her agent told me to open a Coogan account for her. When I went to Wells Fargo Bank they informed me they could not open the account until she had a written offer of work. Is this really true?

  33. Diandra E.

    Hi Valerie,
    We’re you able to open a Coogan Account through WFB? I want to open my child’s Coogan through them. I was told by our talent agent that they do not do these accounts. They gave us two local banks that do offer them. Thanks

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    […] contracts are a reality for all minors employed on long-running series, and in California, the Coogan Accounts are mandatory. If you pretend that kids in reality shows are just “participants,” all […]

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    […] work and how the money is divided.  Ten percent goes to the agency, fifteen percent goes into a Coogan Account, and the rest is for the parents.  How parents choose to spend the rest of the money is totally […]

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