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Tax Season Aid and Loans Abound at CUs

Tax season can be a daunting time of year for credit union members. Some, who view their annual refund as a much-needed source of extra cash, want to maximize their refund opportunities. Others, who owe taxes, may be wondering how theyll afford payments. To ensure the process runs smoothly regardless...

By Natasha Chilingerian | Updated on February 20, 2012

Tax season can be a daunting time of year for credit union members. Some, who view their annual refund as a much-needed source of extra cash, want to maximize their refund opportunities. Others, who owe taxes, may be wondering how they’ll afford payments. To ensure the process runs smoothly regardless of a member’s situation, many credit unions are stepping up to help.

State Employees’ Credit Union, a $23.7 billion CU based in Raleigh, N.C., for example, has partnered with the North Carolina Department of Revenue and Office of State Personnel to offer members an individual income tax debt payment loan. The loan, which the CU is offering in conjunction with the North Carolina Department of Revenue’s Individual Income Tax Debt Relief Program, gives qualifying members a 5% interest rate plus a waiver of any penalties and fees associated with their tax debt, which can equal up to 35% of their total debt.

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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.

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