Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
SECU's Tax Prep Services Saves More Than $9M In Fees
RALEIGH, N.C. (5/3/13)--State Employees' CU, based in Raleigh, N.C., helped more than 77,000 North Carolinians claim nearly $104 million in tax refunds this tax season, saving them about $9.4 million in tax-preparation fees.

A flexible "no appointment" process meant SECU assisted more members this year, the $25.5 billion asset credit union said.

It prepared and filed tax returns for 68,000 members under the Internal Revenue Service's free Volunteer Income Tax Assistance (VITA) program. That is an increase from last year's more than 57,000 filings.

SECU's low-cost tax preparation services, offered to members with income thresholds exceeding the $51,000 VITA guideline, also filed more than 9,000 tax returns, a 34% spike from last year's 7,000 returns.

Between the two programs, SECU helped members claim nearly $49 million in total tax credits, including $27.6 million in Earned Income Tax Credits, more than $18 million in Child Tax Credits and $3.1 million in Education Tax Credits.

"The success of SECU's tax preparation services is the result of the committed efforts of 1,800 SECU tax preparers who serve members' needs with diligence and patience during the busy season," said Tenesha Carter, senior vice president of SECU Tax Preparation Services.

The credit union's partnership with IRS led to an expansion of free tax preparation services in 248 SECU branches in all the state's counties and contributed to VITA's success in the state, said Debra Patterson, territory manager for IRS Stakeholder Partnerships, Education and Communication. "We value our strong relationship with SECU and support the VITA services that SECU provides to such a large contingent of eligible North Carolinians."


RSS print
News Now LiveWire
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
6 minutes ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
46 minutes ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
2 hours ago
Are you going to be naughty or nice to your budget with holiday spending? http://t.co/FcN2YPxCIU
2 hours ago
Did U miss the July @TheNCUA open meeting? Now a video recording is available on the agency’s website. Go here: http://t.co/cxGs2bkdKt
3 hours ago