Mills42 FCU Has Provided FREE Income Tax Returns for Low Income Residents for Ten Years!
May 2, 2022
We are a small but mighty federal credit union located in the heart of Lowell, Massachusetts. Membership in Mills42 is open to anyone who lives, works, worships or attends school in Lowell, the northern portion of Chelmsford or the western portion of Tewksbury.
Lowell, Mass — For the tenth year in a row, the Mills42 FCU team prepared free income tax returns for low-income residents of Greater Lowell. This year, that number was 99, saving these individuals in aggregate over $21,000 in tax return preparation fees.
“We are so fortunate to have participated in the Volunteer Income Tax Assistance (VITA) Program for ten years. It is such a benefi cial program for our community,” states Derek Cronin, CEO of Mills42 FCU. “For example, if the individuals we helped this year had hired an accountant to prepare their non-itemized tax returns, they would have paid on average $220 each. For many low-income residents of our community, that is a tremendous amount of money that they can now spend on more important essentials.”
The tagline of Mills42 FCU is “Build from here,” and it has become the credit union’s mission, as well. A case in point: They off er a free credit monitoring tool to their members that not only shows them what their score is currently, it gives them simple, smart tips and advice on how to increase it. And at the same time, a Mills42 FCU team member is right by that member’s side to make sure they’re getting the fi nancial products they need to truly build from here.
Mills42 FCU offers free checking, free savings and a variety of unique credit-building loan options, such as secured VISA® credit cards and small-dollar, short-term personal loans.
“Mills42 is a small but mighty fi nancial resource in our community,” explains Cronin. “And we want our community, especially our underserved neighbors, to know we’ve got their backs. The VITA Program is just one worthy local cause that we devote our time and energy to.”
Mills42 FCU was chartered in 1958 to serve the employees and families of M/A-COM Technology Solutions. In 2005 the credit union expanded its charter to serve specifi c communities within Greater Lowell and moved to their current location at 83 Merrimack Street in Lowell, Mass. Mills42 has more than 3,024 members and assets of over $28.6 million.