Financial Stability Impact Stories

My name is William Penny.

With a last name like that, it's somehow appropriate that I got into banking. Soon after starting my job with Wachovia, A Wells Fargo Company, I realized that it's a company that cares. I joined, and eventually became president of, Wachovia, A Wells Fargo Company Volunteers!, a group that links our employees with quality volunteer experiences.

When it came to my own volunteering-and finding volunteer projects for my coworkers-I often had trouble deciding what, exactly, to do. I eventually turned to Hands On Central Texas, the volunteer program of United Way Capital Area. Their ability to match a potential volunteer's time and interests with real “grassroots” projects is second to none.

When I told the team at Hands On Central Texas that I worked in banking, they wasted no time connecting me to Foundation Communities, an Austin nonprofit agency that runs the Community Tax Center program that assists low-income individuals and families with tax preparation. I admit it: I was a bit nervous about becoming a volunteer tax preparer. But the training Foundation Communities provided quickly soothed those nerves. I left eager to get my hands dirty (or inky, in this case) and start helping.

On one of my first nights, I sat down with a single mother who worked two jobs to support two young kids. I asked if she'd ever heard of the Earned Income Tax Credit. She hadn't. I explained that the EITC was designed for people like her, and that it translated into more than $2,000 in tax refunds. She was dumbstruck, eventually explaining that $2,000 would ensure that the rent would be paid and her kids would eat well. They were such simple wishes she had, and so fundamental, and I'd helped make them come true. The work of the Community Tax Centers really paid off. In 2007, the CTCs helped bring back to Central Texas families more than $17 million in tax credits that would have otherwise gone unclaimed.

I share this story to remind you that there is no greater feeling than being the cause of someone else's happiness and comfort. No matter our own circumstances or the demands on our hectic schedule, giving back simply makes things better-for everyone. And frankly, that's not a feeling that can be measured, counted, or deducted.

WHY UNITED WAY?
United Way Capital Area is a proud partner with Foundation Communities in staffing the numerous Community Tax Centers around Central Texas with excellent volunteer tax preparers through Hands On Central Texas, the volunteer arm of United Way. Also, “Financial Stability” is one of United Way Capital Area's Focus Areas. We are “arming” families with the knowledge and tools they need to become financially independent and secure.