With financial health being a key factor in opening pathways to economic development, Wells Fargo continues its work with California State University, Northridge (CSUN), the largest Volunteer Income Tax Assistance (VITA) Clinic in the nation. Wells Fargo provided a multi-year grant in 2022 which was matched dollar-for-dollar by the CSUN foundation that will allow the university to launch an innovative hybrid in-person and virtual platform to scale up cost-free tax preparation services, growing capacity of the Clinic to serve even more low-income taxpayers in Los Angeles County generating more than $19 million in tax refunds and $7.5 million in tax credits, while saving the taxpayers over $3.3 million in tax preparation fees. Taxpayers also received free one-on-one financial coaching services from their certified student financial coaches. Taxpayers are able to develop a customized budget, develop a strategy to pay down debt or save for a new house, college or retirement during these financial coaching sessions.
San Fernando Valley Business Journal