Prepaid debit cards aid responsible refund spending

CUs can help members manage the cash they get after filing their taxes

It may seem hard to believe as it’s only February, but tax season is right around the corner. W-2s are appearing inside members’ mailboxes. It can be a stressful time, digging out paperwork, organizing receipts, adding up totals, wondering if a particular expense counts as a write-off. Credit unions can help their members cope with tax time tension, and prepaid debit cards can be a useful tool in this.

Start by reminding your members how you can help manage that tax refund that may be coming down the line.

It’s always a good feeling when that “extra” money appears in the mail or in your member’s account. The hard part is resisting the urge to spend it on something fun, and maybe a little exorbitant. As credit unions, we look out for our members and keep their best interests at heart. It’s our responsibility to advise against blowing their refund all at once. Put some away for a rainy day, or use it for a necessary home repair or project that’s been put off. That would be the safe, smart choice.

continue reading »