Mass. Gen. Laws ch. 171, § 41: Minors' accounts

Section 41. Shares may be issued and deposits received in the name of a minor, and such shares and deposits may, subject to the policy of the credit union, be withdrawn by such minor or by his parent or guardian and, in either case, payment made on such withdrawals shall be valid and shall release the corporation from liability to the such minor, parent or guardian relative to such shares and deposits.