Matz At Opening Of 3rd VITA Site

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NCUA Board Member Debbie Matz visited Lower East Side People's FCU (LESPFCU) here last week to participate in the opening of its third site providing free tax preparation and financial education for low-to-moderate income residents throughout lower Manhattan.

LESPFCU is the first credit union to request an NCUA grant to help offset the costs of opening a Volunteer Income Tax Assistance (VITA) site. Through a partnership with the Internal Revenue Service, credit union volunteers are trained to help low-to-moderate income workers file their tax returns, claim the tax credits they have earned, and avoid refund rip-offs.

Matz noted that "the Earned Income Tax Credit is worth up to $4,400 per year for working low-income families. Yet, 25% of eligible families do not claim the credit they could receive. That's $7 billion that could be used for food, clothing, and homes in low-income communities."

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