Any such Federal credit union, having issued shares standing on its books in the name of any minor not less than twelve years of age, may pay the dividends or earnings thereon, as well as the withdrawal value of such shares, to such minor, without the assent of his parent or guardian. The receipt, acquittance, or other action required by the Federal credit union to be taken by the minor shall be binding upon such minor with like effect as if such minor were of full age and shall be a valid release to the Federal credit union. The parent or guardian of such minor shall not, in his capacity as parent or guardian, have the power to attach or in any manner transfer any shares issued to or standing in the name of such minor.