Youth Accounts - Actors FCU

Youth Accounts

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Youth Accounts

Help them get their financial lives off to a great start.

• Easy Setup Account Opening

• Direct Deposit and eBranch Online Access

• Federally Insured up to $250,000

• $100 Minimum Balance*

ActorsFCU’s three Youth Account levels help our younger members learn to manage their money and get their financial lives off to a great start.


Auditions – UTMA (newborn to legal age)**

This traditional UTMA account (Uniform Transfer to Minors Act) is a custodial account;  a parent or guardian must be part of any transaction. Upon legal age, this account becomes the sole possession of the minor. 

Supporting Role (12 to 17 years)**

This joint account with a parent or guardian helps teens transition from custodial account to (eventual) full responsibility. Both minor and parent/guardian have access to the account for withdrawals and deposits, and the account includes a debit card with a $50 daily limit issued in the minor’s name.

Starring Role (15 to 17 years)**

All the features of the “Supporting Role” account but with the added benefits of Power Checking, a daily debit card limit of $150, and access to ePay$ Online Bill Pay—another level of learning. No minimum balance for checking, no maintenance fee, and no per-check charges. Checks are available for viewing or printing in eBranch Online.

 


Easy Setup Account Opening

Accounts can be opened by mail or in person at any of our offices—in NYC, Chicago, LA, or NoHo. Apply online or call Member Services at 212.869.8926, Option 6, for necessary forms. You will need:

  • Copy of the minor’s birth certificate
  • The minor’s Social Security Number
  • The minor’s government-issued photo ID (must be current)
  • Parent/Guardian's Social Security Number
  • Parent/Guardian’s government-issued photo ID (must be current)
  • The Parent/Guardian or minor must have an existing account with ActorsFCU or affiliation with one of our Select Employee Groups (SEGs)

    All three accounts are issued in the minor's name and Social Security Number
​* Minimum balance required to avoid low quarterly service fee.
** These accounts are NOT Coogan Accounts and do not satisfy the requirements for states that require a Coogan Account