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IRS Honors Coastal Community for its Public Service through VITA
Tuesday, May 12, 2015 6:45 AM

IRS Honors Coastal Community
Coastal Community Federal Credit Union VITA volunteers include: (back row) Tim Foley, Marie Campos, Delia Bahena, Gail Boyd, and Michele Vargas; and (front row) Ines Lyon, Toni Leyva, Carol Gaylord, and Caroline Gaspard.

The Department of the Treasury Internal Revenue Service recognized Coastal Community Federal Credit Union's VITA Volunteers for their outstanding public service contributed to our community. Together, the Coastal Community VITA volunteers e-filed over 700 returns totaling $1,000,000 in refunds and saving the community over $100,000 in tax preparation fees.

Volunteer Income Tax Assistance (VITA) is an Internal Revenue Service sponsored program that provides free tax filing assistance using IRS-certified volunteers.    

"Call us crazy," said Coastal Community FCU President and CEO Carol Gaylord, "but yes, we enjoy preparing taxes. Personally I love numbers, although most of the enjoyment comes from creating trusting, lasting, caring relationships—or TLC."

Gaylord says they not only save low- and moderate-income individuals and families thousands in tax preparation fees, they also bring additional funds into the community through educational and earned income tax credits. "Those funds funnel into our community and help it thrive," Gaylord said. "Most of our VITA clients are already our members; however, some are not even affiliated with a credit union. This is our golden opportunity to share the credit union difference. We cannot solicit; however we can educate."

She reports that their 2014 market share growth was 18.22 percent, loan growth was 11.87 percent, asset growth was 17.62 percent, and membership growth was 3.44 percent. 

Gaylord calls this "touching tomorrow's members today." "Not only are we planting seeds, we are growing like a weed," Gaylord said. "I do contribute our strong growth to our community outreach and our employees and volunteers that make it happen."