A few other facts and voices on why the elimination of tax prep for 100,000+ SECU members was yet another blunder by the "We Are SECU Board". A case of "We B" ivory tower syndrome? Another step backwards for SECU members and North Carolina...
Governor Cooper Encourages Eligible North Carolinians to Claim Earned Income Tax Credit
✅ February 14, 2023 - Governor Cooper recently joined the United States Department of the Treasury and Internal Revenue Service in encouraging eligible North Carolinians to claim the tax credit on their upcoming federal taxes.
“North Carolina families should take a moment to determine if they are eligible for the Earned Income Tax Credit,” said Governor Roy Cooper. “This can help hard working families with tax relief they deserve.”
For over forty-five years, the EITC has been supporting hardworking people by offering tax credits to low- to moderate-income workers and families. The EITC, combined with the Child Tax Credit (CTC), lifts over nine million people out of poverty annually – half of them children.
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✅ 9/26/2023– NCUA is co-hosting a webinar today with the Internal Revenue Service about the Volunteer Income Tax Assistance (VITA) program on Sept 7. The webinar will begin at 1 p.m. ET.
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By design, the EITC only benefits working families. Children are one of the primary beneficiaries of the EITC since families with children receive a much larger credit than workers without qualifying children. For its potential as a strong economic support to families, The Centers for Disease Control and Prevention advises that boosting a family’s financial security can reduce child abuse and neglect by improving parents’ ability to meet the family’s basic needs, provide quality childcare, while reducing parental stress and depression.
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.... but y'know the "We B's" know best!
SECU has been taken hostage by the cult of Industry Standard!
ReplyDeleteIf SECU’s Board and Ms. Brady truly do want to provide the services that SECU members need, then they will bring back tax prep in a well managed fashion which should include completion of simple returns (get rid of the complicated stuff) with better training and geographically centralized preparation locations using the employees who loved doing taxes. And maybe, just maybe, a conversation with the branch managers who got out of the box and managed tax prep well would be helpful.
ReplyDeleteTax Prep isn't rocket science. True there can be some folks who need a CPA (Board members, C-suites, top-of-the-food-chain earners) but most state workers (we are State Employees' Credit Union) probably need simple tax return 'help'. This is nothing but a lack of will on the part of management because they have been captured by the thought of riding themselves of employees period!
ReplyDeleteWhen they say 'do more with less' this is nothing but a dog whistle for AI.
Watching this saga I can't help but start remembering the downfall/bankruptcy of Barings bank. To those who are unfamiliar with Barings, here is a summary from Investopedia:
ReplyDeleteFounded in 1762, Barings was among the largest and most stable banks in the world. It used to be one of the world's most powerful financial institutions. Even Queen Elizabeth II had an account with it. However, thanks to unauthorized speculation in futures contracts and other speculative dealings, it ceased operations on February 26, 1995. A history of "233 YEARS" came to a naught. Even efforts by the Bank of England to arrange a rescue package could not avert the inevitable collapse. The Dutch bank ING Group, purchased Barings Bank in 1995 for the nominal sum of £1.00, assuming all of Barings' liabilities and forming the subsidiary ING Barings.
This failure was "single" handedly caused by a 28-year-old rogue trader named Nick Leeson operating without supervision or oversight. Making matters worse Leeson hid his losses with accounting tricks. Preventing the collapse of Barings Bank comes down to oversight. If there were one or two astute managers monitoring the trades of their trading departments, Leeson probably would have never taken the chance.
With this in mind, there are a lot of wannabe rogues in SECU - rogue board, rogue board and rogue C-Suite management. SECU is operating under a shroud of mystery. There is NO "transparency" and accountability. Everything is so well hidden and truth is hard come by.
Unless this veil of secrecy, deceit and silence is lifted, SECU cannot survive in the long run. The future of the members and this financial institution is at stake. Hopefully all of us members and owners can come together and right the wrongs soon.
Update: I meant to say rogue board, rogue bankers and rogue C-Suite management.
DeleteNeed to do the "Inside Job" video https://www.youtube.com/watch?v=tJQTzuv6SS4
ReplyDelete