Mills42 Federal Credit Union helps low-income residents get over $500,000 in tax refunds
LOWELL, MA (April 24, 2020) — Thanks to the efforts of the talented team at Mills42 Federal Credit Union, 118 federal income tax returns were filed at no charge for low-income individuals and families, resulting in more than $500,000 in tax refunds.
“We’re all about helping our Lowell community rise up financially,” says Carla Rasetta, President and CEO of Mills42 FCU. “Tax preparation services can charge $100 or even more for simple tax preparation. On a $40,000 income, you could work upwards of 10 hours just to pay for tax prep. We want to remove that unnecessary hurdle.”
This is the eighth year of their Volunteer Income Tax Assistance program (VITA). But helping those in need extends beyond tax season. “If something is holding someone back, especially credit-related, we want to help fix it,” says Rasetta. For Mills42 members whose credit scores are low, Rasetta and her team offer year-round education not only on the cause, but also on possible solutions, which now includes COVID-19 loan and credit card bill relief programs, as well as personal loans to help struggling members through the next several months.
As additional support, Mills42 FCU offers free checking, free savings and a variety of unique credit-building loan options to help people “build from here,” as promised in the credit union’s tagline.
“Everyone deserves a helping hand,” says Rasetta. “We want the community to know we’re here for them.”
About Mills42 Federal Credit Union
Mills42 FCU is a Lowell-based community credit union originally chartered
in 1958 to serve the employees and families of M/A-COM Technology Solution. In 2005 the credit union expanded their charter to serve specific communities within Greater Lowell, Massachusetts, and moved to their current location at 83 Merrimack Street in downtown Lowell. In addition to
English, the credit union has team members who are fluent in Spanish, Portuguese and Khmer. Mills42 has more than 3,000 members and assets of over $27 million.