RALEIGH, N.C.–State Employees’ Credit Union (SECU) reported it has set a new record by helping ore than 102,000 North Carolina taxpayers claim more than $140 million in tax refunds and save an estimated $12.3 million in tax preparation fees during the most recent tax preparation season.
From Jan. 20th through the tax deadline of April 15th, SECU reported its certified tax preparers in all branches throughout the state filed close to 90,000 taxpayer returns through the free IRS-sponsored Volunteer Income Tax Assistance (VITA) program, up from last year’s figure of just over 80,000. SECU said its Low-Cost Tax Preparation service also saw a marked increase this year, helping 12,700 members file at a cost of just $75 per return.
Between both programs, SECU said it experienced a significant growth increase of 13% over the prior year, demonstrating the exceptional value of the seasonal service to its membership. The cooperative also helped participating filers claim beneficial tax credits amounting to nearly $61 million, including $39 million in Earned Income Tax Credits, $19 million in Child Tax Credits and $2.4 million in Education Tax Credits.
“This has been an incredible tax season for our staff of 2,600 tax preparers,” said Tenesha Carter, senior vice president of SECU Tax Preparation Services. “Thanks to their dedicated efforts, SECU’s tax preparation program continues to be a highly valued service for our membership, with direct savings on tax preparation fees and an open opportunity for members to discuss their tax and overall financial situation with folks they already know and trust. As a financial cooperative, SECU and its employees remain committed to making a beneficial difference in the financial lives of all members.”