I want to open a coogan account for my child , but the people on the branch don't know how to do...

I want to open a coogan account for my child , but the people on the branch don't know how to do it, actually they did open an account but it didn't work as a trust account.
I'm banking with bofa. and I like the bank and the people , so I don't want to give up yet.
Marcelo asked this question 4 years ago
  • Bank of America • 1945 answers • 94% helpful

    Marcelo, you don't say which state you live in. Generally, Coogan accounts are only referred to as such in California. State laws vary on the type of account that is used for the purpose. SAG, the Screenwriters-Actors Guild, requires trust accounts with restricted access for under-age actors but, again, state law determines exactly what type of account that is.
    If you live in CA, I suggest that you have your banking center personal banker or manger contact their helpline within the bank for assistance in opening the correct account, If you are in any other state, UTMA/UGMA accounts are the most commonly required.
    If I can be of any other assistance, please feel free to contact me directly at http://www.insidr.com/in/bankbuster
  • Bank of America • 54 answers • 75% helpful

    Great answer. Go with that one
  • 219 answers • 100% helpful

    This expert is helping you out because there weren't many active Bank of America experts.

    The above mentioned details are right, but want to more include that BOA charges $300 opens Coogan Saving account whereas Aftra/Sag Credit Union, city national bank, First entertainment credit union with no opening deposit. No monthly charges by any of these banks.

    Aftra/Sag Credit Union & First entertainment credit union - you can apply online.

    Best of Luck

    Please check interest rate as it differs in every bank. Only opened in CA by BOA.
    If you are in other city like Studio City Wishire(Aftra/Sag Credit Union), NY(city national bank), 7NY LV LA(First entertainment credit union).

    Contact numbers: BOA - 888-600-4000
    Aftra/SAG - (323) 461-3041 (818) 562-3400

    City national bank - (800) 773-7100 (310) 888-6200
    First entertainment credit union - (888) 800-3328