SECU's VITA Returns $52 Million to Members
Through its IRS Volunteer Income Tax Assistance program, State Employees' Credit Union said it helped members receive $52.8 million in refunds and saved them $5.4 million in preparation fees this past tax season.
The $20 billion SECU in Raleigh, N.C. experienced a 41% increase in its VITA program preparing more than 35,000 returns. In its introductory season of paid tax preparation services, the CU also assisted more than 2,100 members whose income thresholds surpassed the VITA guidelines. Between the two tax preparation programs, SECU said it helped members claim more than $26.2 million in tax credits, including $15.2 million in Earned Income Tax.
Through its training program and working with the IRS, SECU has trained nearly 1,000 VITA preparers. By next year, SECU is planning to have a VITA site in every county in North Carolina.