The $41 million Coastal Community Federal Credit Union of Galveston, Texas has become an Internal Revenue Service favorite.
The five-employee Coastal Community was presented the "Stellar IRS VITA Site" award for its Galveston County role in preparing 366 tax returns totaling $587,194 in refunds during its first year as part of the Volunteer Income Tax Assistance program.
"We saved Galveston County residents over $37,000 in tax preparation fees and over $268,475 in Child Tax, Earned Income and Educational Tax Credit savings," said Carol Purdy Gaylord, president/CEO of 8,200-member Coastal Community. "We knew we were making a difference when we realized that $474,624 in income reported was derived from unemployment benefits."
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