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Electro Savings Offers Accounts at Free Tax Site

Electro Savings Credit Union has partnered with the Gateway EITC Community Coalition (GECC), an organization that offers free tax preparation at more than 30 sites throughout St. Louis and the metro area to families with incomes less than $50,000.  The credit union will be offering free financial services every Saturday from February 11 through April 14, to tax filers at the UM-St. Louis – Ferguson Municipal Library site, located at 35 N. Florissant Road. 

Filers can open savings and free checking accounts that require no minimum balance.  People who open credit union accounts receive an account number that day to provide to their tax preparer so that their tax refund can be directly deposited within seven to 10 days into their new credit union account.

“Our goal is to help people avoid paying high fees to manage their money,” says Laura Mugge, community development specialist for Electro Savings Credit Union.  “Electro Savings Credit Union is here to help people who do not currently have an account with a financial institution, or feel that they cannot get a traditional account.  Many people today have made decisions with their finances that may not have been the best.  We offer a Fresh Start Checking product that includes a debit card that is perfect for those who may have been turned down for a traditional checking account at another financial institution as well as our traditional Free Checking account.”

GECC is a non-profit organization dedicated to preparing tax returns free of charge for families with incomes less than $50,000.  Since 2002, they have prepared more than 26,800 federal returns at no charge and brought more than $32 million in refunds to the community.  For a list of tax sites, click here.