How to get a Coogan Account

Coogan Account Details

A Coogan account is a special bank account set up to save aside a minimum of 15% of a child's total earnings (which we will do for you). However, don't worry, by your child's 18th birthday, all funds will be avaliable (just in time for college...). Below is a list of banks, credit unions, and brokerage firms that offer Coogan Accounts.

Steps to obtain a Coogan Account

After receiving your court document (the work permit) your child is now eligable to accept work. Before the Coogan account can be obtain from a financial institution, you need to show proof of employment. For those with principal / speaking roles contracts can be used to show proof of employment. For those with background roles you must first complete a day of work and use your voucher receipt as proof of empolyment. Coogan accounts MUST be obtained within 90 days of empoyment or your child may forfeit earnings. Below is a list of banks and financial institutions in southern california that offer Coogan accounts.

Coogan Accounts at Banks

Source: www.childreninfilm.com

Bank Name Requirements Interest Rate Type of Accounts # of Branches
AFTRA-SAG Federal Credit Union
(800) 826-6946
(818) 562-3400
aftrasagfcu.org 		1.) $50 opens Coogan savings account
2.) Can open account online
3.) No monthly service charge
4.) $5 membership fee at the time account is established - fee may be waived.
5.) SAG eligible performers can join
6.) Can join w/ Agent referral 		0.50% APR bal under $1000 1% balance over $1000 Straight Savings; Certificate of Deposit w/ $1000 minimum; Investments for Coogan and non-blocked funds, college funds & more. Sherman Oaks,
Los Angeles,
Burbank
Bank of America
(888) 622-8731 		1.) $100 opens Coogan savings account
2.) No monthly fee if balance exceeds $300
3.) Account must be opened at bank branch 		0.50% Savings 100's in California
Bank of the West
(213) 896-7865 		1.) No minimum deposit requirements
2.) No monthly service charge
3.) Requires proof of employment w/ $1000 minimum 		0.0025 Straight Savings; Certificate of Deposit 400 branches in California
City National Bank
(800) 773-7100
(213) 673-7410
Yazmin Tercero 		1.) No minimum deposit requirements
2.) No monthly service charge w/ $1000 minimum 		0.35% Savings Certificate of Deposit 50 most in CA one in NY
Downey Savings
*FDIC
(818) 562-1044 		1.) $5.00 minimum deposit
2.) No monthly service charge
3.) Social Security Number 		0.0041 Rates vary depending on term Straight Savings CD with $500 minimum balance approx. 50 most in CA one in NY
First Entertainment Credit Union
*NCUA
(888) 800-3328
Evate Arevyan 		1.) Any child performer can join
2.) No minimum balance requirements
must make deposit within 90 days
3.) No monthly fee
4.) Application available online deliver completed application to branch
5.) Birth Certificate 		0.84 Rates vary depending on term Savings CD's avail when acct balance accumulates over $1000 7 NY LV LA
Union Bank Of CA
(213) 236-4145
(818) 843-8125 		1.) $3.00 initial service charge
2.) No monthly service charge
3.) No minimum deposit requirements
4.) Social Security Number
5.) Birth Certificate
6.) Custodian must provide 2 forms of ID 		less than 1% in California Savings account 250
Wells Fargo
*FDIC
(800) 869-3557
(818) 766-7172
Ask for Argisht 		1.) Requires proof of employment
2.) $25.00 opening deposit
3.) No monthly service charge
4.) Valid Entertainment work permit 		0.25% rate depends on term of CD Savings account; Certificate of Deposit; Money Market Account Literally 1000's all over U.S.

Coogan Accounts at Brokerage Firms

Source: www.childreninfilm.com

Brokerage Firm Requirements Interest Rate Type of Accounts # of Branches
Smith Barney
*SIPC
(310) 285-6555 		1.) Minimum account balance of 50K
2.) No fees (monthly or annual) 		Rates vary Coupon bonds $200-900
Mutual Funds, CD's 		100's
Intl Org.
Wachovia Securities
*SIPC
(866) 966-3131 		1.) No minimum deposit requirements
2.) Annual fee varies $0-$50 		Rates very Any qualified investment; Mutual Funds; Govt. Securities; CD's Bonds, etc. 1000's Nationwide