According to NCUA, programs such as VITA improve the quality of services to members, make the operations of low-income credit unions more efficient and, ultimately stimulate economic activities in the communities served by the credit unions.

In cooperation with the Census Bureau, the IRS estimates that nationally 79 percent (TY2010 data) of all eligible taxpayers receive the EITC (a range of 78 percent to 80 percent)—implying that approximately 21percent do not claim the credit they deserve.

According to the IRS, in 2014, 1 in 5 taxpayers (almost 28 million filers) claimed the EITC, for an average credit of roughly $2,400.

The average fee for preparing a tax return, including an itemized Form 1040 with Schedule A and a state tax return will increase a few dollars to $273 this year, a 4.6 percent increase over the average fee of $261 last year, according to a survey by the National Society of Accountants.

“When you consider that it takes the average taxpayer five hours to complete a tax return, this is a very strong value,” said NSA executive vice president John Ams in a statement. “The tax code continues to become more complex each year, including some new Affordable Care Act reporting requirements. Professional tax preparers may also be able to find tax deductions and credits that may taxpayers might not notice.”

The survey also reported the average fees for preparing additional Internal Revenue Service (IRS) tax forms, including $174 for a Form 1040 Schedule C (business), $634 for a Form 1065 (partnership), $817 for a Form 1120 (corporation), $778 for a Form 1120S (S corporation), $457 for a Form 1041 (fiduciary), $688 for a Form 990 (tax exempt), $68 for a Form 940 (Federal unemployment), $115 for Schedule D (gains and losses), $126 for Schedule E (rental) and $158 for Schedule F (farm).

Not everyone can afford $261 for tax preparations, and in Santa Cruz County, for many families VITA is invaluable, and can result in receiving credit equal to an entire month's wages. A single mother working full-time at $9.70/hr., raising one child would receive $1,615 in Earned Income Tax Credits (the average EITC refund for Santa Cruz County), and the equivalent of an 8 percent raise.

“The potential impact of this service is staggering,” Carr said. “Serving 500 “average” families would bring $807,500 into the hands of those who need it most.”

“Each year more than $6 million in tax credits remain unclaimed in our membership area. SCCCU is committed to helping our community recapture these dollars,” Carr continued. “Many low-income families don't know the credits are available or don't know how to claim them. Our free tax preparation clinics change that.”

The VITA Grant Program is an IRS initiative designed to promote and support free tax preparation service for the underserved, in both urban and non-urban locations. Service is targeted to low-to-moderate income individuals, persons with disabilities, the elderly, and limited English speaking. IRS awards matching grants each year to credit unions that offer free tax preparation services during the tax filing season at locations in all 50 states and the District of Columbia. Congress appropriates this funding to support the Volunteer Income Tax Assistance Program.

Travis Credit Union in Vacaville, CA with $2 billion in assets, participates in the VITA program from February to April 15.

“From financial education to home ownership programs our goal is to put money back into the pockets of our working families and individuals,” said Barry Nelson, president and CEO of Travis Credit Union. “As a socially responsible corporate citizen, the VITA Program is one of a number of ways Travis Credit Union can support the communities we serve.”

The National Credit Union Foundation's REAL Solutions program also provides resources for becoming a VITA site.