Search
 

Michigan CU League Backs Outreach for Earned Income Tax Credit

NORTHVILLE TOWNSHIP, Mich. - The Michigan Credit Union League is encouraging credit unions to participate in the state's Outreach Effort for Earned Income Tax Credit. The EITC provides tax breaks to working low-income people. Credit unions can help by becoming a Volunteer Income Tax Assistance site, partnering with an existing...

By Staff Writer | Updated on December 16, 2003

NORTHVILLE TOWNSHIP, Mich. – The Michigan Credit Union League is encouraging credit unions to participate in the state’s Outreach Effort for Earned Income Tax Credit. The EITC provides tax breaks to working low-income people. Credit unions can help by becoming a Volunteer Income Tax Assistance site, partnering with an existing VITA site, providing educational programs about EITC, and having information available for members. “Tax refunds must be e-filed and automatically deposited, expanding credit unions’ opportunities to serve this segment of their communities,” the league notes. MCUL VP/Communications Doris Brown explains the league was contacted by the Michigan State University Cooperative Extension Service encouraging the MCUL to become involved. NCUA and the Internal Revenue Service are other partners in the program. The EITC program isn’t exactly chump change. In fact, at a statewide kickoff meeting, economist Scott Darragh from the Michigan Department of Treasury Office of Revenue and Tax Analysis stated, “Only Medicaid and Social Security income provide more in benefits than EITC, as of 2000 statistics.” The MCUL took on the job of getting information out to credit unions. The outreach program can train credit union staff to help with EITC, or a credit union can simply make space available to someone with that training. “It fits right in with credit union efforts on financial literacy,” Brown says. “People may go to another entity and pay to have those tax refund checks cashed. A credit union can explain membership and the availability of share accounts and other products.”

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Credit Union Times

Join Credit Union Times

Don’t miss crucial strategic and tactical information necessary to run your institution and better serve your members. Join Credit Union Times now!

  • Free unlimited access to Credit Union Times' trusted and independent team of experts for extensive industry news, conference coverage, people features, statistical analysis, and regulation and technology updates.
  • Exclusive discounts on ALM and Credit Union Times events.
  • Access to other award-winning ALM websites including TreasuryandRisk.com and Law.com.

Already have an account? Sign In Now
Join Credit Union Times

Copyright © 2024 ALM Global, LLC. All Rights Reserved.