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NFCDCU Promoting Tax Credit

NEW YORK - The National Federation of Community Development Credit Unions is following up on its previously stated intention to promote the federal Earned Income Tax Credit through its member credit unions. The EITC will put $375 into the pockets of unmarried individuals without children making no more than $11,060....

By Staff Writer | Updated on January 21, 2003

NEW YORK – The National Federation of Community Development Credit Unions is following up on its previously stated intention to promote the federal Earned Income Tax Credit through its member credit unions. The EITC will put $375 into the pockets of unmarried individuals without children making no more than $11,060. Families with multiple children making no more than $34,178 may be eligible for more than $4,000, the Federation said. “Each year, hundreds of millions of dollars go unclaimed by people who badly need the money,” said the Federation’s Executive Director, Cliff Rosenthal. “What’s more, some people who do claim the credit request it through tax-preparation companies that may take an excessively high fee.” “So many of our members are the working poor or low-income families living paycheck to paycheck,” said Trina Heizman, CEO of the Homesteaders FCU in New York City. “The EITC would make a big difference in living standards for them. What’s more, EITC benefits the credit union, because we can work with members to encourage them to deposit a little and get started on a savings plan.”

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