Wells Fargo Gift Supports Financial Education at CSUN VITA Clinics
When low-income taxpayers visit California State University, Northridge’s Volunteer Income Tax Assistance (VITA) Clinics for help with their taxes, they also have a chance to learn more about how to manage their finances, through a program made possible by a gift from Wells Fargo.
The bank has awarded the university $50,000, on top of the $50,000 it gave the university last year, to support the clinic and provide financial education and financial coaching to its clients.
“The impact of the CSUN VITA Clinic is measured not only by virtue of helping low-income taxpayers obtain a cost-free tax preparation service, but perhaps more importantly, our ability to give the taxpayers we serve the opportunity to obtain vital support and resources for strengthening their financial resiliency,” said accounting professor Rafi Efrat, Bookstein Chair in Taxation and the director of CSUN’s VITA Clinic.
“The partnership we have formed with Wells Fargo, providing financial guidance and support to the taxpayers we serve, is truly unique as it empowers the taxpayers to take charge of their financial well-being by repaying old and burdensome debts, starting a savings account for retirement, putting money aside for the kids’ college education or saving enough money for a down payment for their first home,” Efrat said. “We are grateful for their investment in our community.”
Wells Fargo’s support of the financial empowerment of low-income taxpayers began during the 2017 tax season. In addition to the money, Wells Fargo team members are on hand to provide financial guidance and advice to taxpayers.
“Investing in our local communities is part of our culture at Wells Fargo,” said Robin Choi, San Fernando Valley Region Bank President. “These no-cost services assist us equipping our customers with the tools needed to succeed financially. (Read More About Wells Fargo's Gift Here.)