Tax time can be stressful, but Winston-Salem Federal Credit Union (WSFCU) helped nearly 400 members relax this year through its Volunteer Income Tax Assistance (VITA) program. WSFCU employees elect to volunteer and provide this service to the membership. Through their efforts in the 2013 Filing Season, members received a total of nearly $624,000 in refunds, including $347,028 in Earned Income Tax Credits, $40,807 in Child Tax Credits and $11,283 in Education Credits. More importantly, the credit union also saved members nearly $92,000 in preparation fees by providing the free service.
“This is the third year the credit union has provided free income tax preparation services through VITA, and by all measures, the program continues to grow in popularity among members,” explains Terry Edwards, Vice President of Member Services. - “These benefits helped working families maximize their returns while avoiding costly preparation fees”.
Since WSFCU implemented the program in 2010 more than 900 members have benefited approximately $1.4 million in refunds, while saving them more than $228,000 in preparation fees. In closing Edwards stated, “The value of being a member at WSFCU is invaluable and services such as VITA exhibits why many members consider WSFCU their primary financial institution!”