How Does VITA Help?

NYCfNAC operates VITA (Volunteer Income Tax Assistance) sites in partnership with Brooklyn Cooperative Federal Credit Union (BCFCU), Union Settlement Federal Credit Union (USFCU) and the Lower East Side People’s Federal Credit Union (LESPFCU).

 

Since 2003, our VITA programs have prepared more than 28,500 tax returns without cost for low-income New Yorkers, generating $37 million in refunds, of which $16 million was in the form of the Earned Income Tax Credit (EITC). As the largest poverty-reduction initiative in the country, the EITC lifts more than 4.8 million people, including 2.6 children out of poverty each year. However, an estimated quarter million residents of New York City eligible for the EITC do not apply for it.

 

Our VITA programs have also enabled low income tax clients to open 2701 savings accounts since 2003, including many for households that have never had a bank account. When they open savings accounts, VITA clients have an opportunity to change their consumer habits, moving away from fringe financial providers—check cashers, rent-to-own stores, money order vendors and loan sharks—to use the affordable, comprehensive and member-centered services offered at our credit unions.

"One couple with two children said they needed a new couch that cost $330. They kept their fingers crossed during the whole time I was entering their information. When I was done I looked at them and told them that they were going to be able to get that couch… they had over a $6,000 refund!" ---Annie G. 2009 Volunteer Tax Preparer

              

"I helped a woman who had been taking care of her niece to obtain over $5000 in refunds. I also prepared taxes for a single mother from the Dominican Republic with an annual income of about $23,000 who got back almost $10,000 in refunds."

---Whitney H., 2009 Volunteer Tax Preparer

“I had a married couple on my fourth session – they were both working several part-time jobs to make ends meet yet still found themselves short of being able to afford the daily necessities in life. Once I told them the money they were getting back they were so grateful and thankful. The husband then told me that I just made “the world a little bit better” and both offered me a hug. Because of the tax program, three complete strangers became friends and a few words and a hug became a memory I will never forget.”

— Scott H., 2009 Volunteer Tax Preparer

— Neha S, 2009 Volunteer Tax Preparer

“I think that the dynamic and mature way that this program approaches the issues of low-income finance/tax management through providing a “one-stop shop” is a wonderful model.”

— Joe B., 2009 Volunteer Tax Preparer

“A single mother with two kids was so thrilled when she learned that she received about $8,000 in tax refunds.  She said that this refund could help her son to get closer to his dream of attending a good college.”

— Marco H., 2009 Volunteer Tax Preparer

“It has been a rewarding experience helping people take control over their finances.  Many of the clients I have worked with have never seen their credit report before, and it was clearly helpful for them to get an organized picture of their financial situation."

— April C., 2009 Volunteer Credit Coach