For 2025, Decatur Earthmover Credit Union (DECU) has teamed up with TurboTax to offer a 20% discount on its tax preparation services. This partnership is designed to make filing taxes more manageable and cost-effective for DECU members. Let’s take a look into the details of this offer, explore the history and mission of DECU, and look at its broader role in financial services, particularly as it relates to taxes and financial wellness.
The TurboTax Discount for DECU Members
DECU members can take advantage of a 20% discount on TurboTax services (note: be sure to compare this offer to all of TurboTax’s current 2025 coupons and offers). TurboTax offers multiple product tiers tailored to various needs, including:
- TurboTax Deluxe: Suitable for maximizing deductions and credits, especially for homeowners or families with dependents.
- TurboTax Premier: Geared towards those with investment income or rental property.
- TurboTax Self-Employed: Ideal for freelancers, gig workers, and small business owners who need advanced tracking and deduction features.
Accessing the discount is simple: members log in to DECU’s online banking portal, where a dedicated link directs them to the TurboTax platform with the discount pre-applied.
About Decatur Earthmover Credit Union (DECU)
History and Background
Decatur Earthmover Credit Union has a rich history that dates back to its founding in 1956. Originally established to serve employees of Caterpillar Tractor Company, DECU has since evolved into a community-focused credit union, extending membership to anyone who lives or works in certain regions of Illinois.
The credit union’s headquarters is in Decatur, Illinois, a city known for its industrial history and community-oriented values. Over the years, DECU has maintained its focus on providing members with affordable financial services, prioritizing their needs over profits.
Membership and Mission
As a not-for-profit cooperative, DECU is owned by its members. This structure allows the credit union to prioritize low fees, competitive interest rates, and high-quality service. Unlike traditional banks that aim to generate profits for shareholders, DECU reinvests its earnings to benefit members, whether through better rates, innovative financial tools, or educational resources.
DECU Services and Financial Offerings
Decatur Earthmover Credit Union offers a wide array of financial services designed to meet the needs of its diverse membership base. These include:
- Checking and Savings Accounts: With no monthly fees and competitive interest rates, these accounts cater to everyday banking needs while encouraging savings.
- Loans: DECU provides personal loans, auto loans, home mortgages, and home equity loans, often with favorable terms compared to traditional banks.
- Credit Cards: Members can choose from a range of credit card options that offer low interest rates, rewards programs, and no annual fees.
- Business Services: Small business owners can benefit from checking accounts, lines of credit, and loans designed to support local entrepreneurs.
- Investment and Retirement Planning: DECU offers Individual Retirement Accounts (IRAs) and financial counseling to help members plan for the future.
DECU and Tax Season: Tools and Resources
While DECU does not directly offer tax preparation services, it provides several resources and tools to assist members during tax season. Here’s how DECU supports its members in navigating the complexities of taxes:
Key Tax-Related Benefits for Members
- TurboTax Discount: The 20% discount on TurboTax services helps members save money on a reliable and comprehensive tax preparation platform.
- Tax-Advantaged Accounts: DECU offers Traditional and Roth IRAs, allowing members to save for retirement while benefiting from potential tax advantages. Traditional IRAs may lower taxable income, while Roth IRAs offer tax-free withdrawals in retirement.
- Direct Deposit for Tax Refunds: Members can set up direct deposit for their tax refunds, ensuring a faster and more secure process.
- Financial Education: Through workshops, online tools, and one-on-one consultations, DECU equips members with the knowledge needed to make informed financial decisions, including tax strategies.
The Role of Credit Unions in Tax and Financial Wellness
Credit unions like DECU play an essential role in promoting financial wellness, particularly for individuals and families navigating the challenges of tax season. Their member-first philosophy often translates into tangible benefits, such as lower fees, better rates, and personalized support. By partnering with TurboTax, DECU reinforces its commitment to making financial management accessible and affordable.
Advantages of Banking with DECU
DECU offers several advantages that align with its mission to support financial wellness:
- Lower Costs: As a not-for-profit institution, DECU can provide lower fees and better interest rates compared to many traditional banks.
- Community Focus: DECU invests in its local community, contributing to economic growth and financial literacy programs.
- Tailored Services: Whether it’s helping first-time homebuyers secure a mortgage or offering small business loans, DECU provides services designed to meet its members’ unique needs.
- Exclusive Discounts: Partnerships like the one with TurboTax add value for members by making essential services more affordable.
Challenges and Considerations for DECU Members
While there are many benefits to banking with DECU, there are also some limitations to consider:
- Membership Eligibility: DECU membership is restricted to individuals who live, work, or have a connection to certain areas in Illinois. While this is common for credit unions, it can limit access for those outside the region.
- Limited Branch Network: DECU’s physical branches are concentrated in Decatur and surrounding areas, which may be inconvenient for members who prefer in-person banking but live farther away.
- Digital Banking Features: While DECU has made strides in improving its online and mobile banking platforms, its digital offerings may not be as advanced as those of larger national banks.
- Focus on Local Services: DECU’s regional focus means its services are tailored to the needs of its local community, which may not always align with the needs of more mobile or geographically dispersed members.
TurboTax: A Key Resource for Tax Preparation
TurboTax is one of the most widely used tax preparation platforms in the United States, known for its user-friendly interface and comprehensive features. By partnering with TurboTax, DECU provides its members with access to a trusted tool for managing tax obligations.
Why TurboTax Stands Out
- Ease of Use: TurboTax simplifies the tax filing process with step-by-step guidance and intuitive design.
- Accuracy: The platform uses advanced algorithms to check for errors and ensure compliance with tax laws.
- Customization: TurboTax tailors its recommendations based on the user’s unique financial situation, such as investments, self-employment income, or rental property ownership.
- Support: Users can access live tax advice from professionals, making it a versatile option for both novice and experienced filers.
Tips for Making the Most of Tax Season with DECU
If you’re a DECU member, here are some practical ways to leverage the credit union’s resources during tax season:
- Utilize the TurboTax Discount: Save 20% on TurboTax products by accessing the offer through DECU’s online portal.
- Contribute to Tax-Advantaged Accounts: Maximize your retirement savings and potentially lower your taxable income by contributing to a Traditional or Roth IRA.
- Plan Ahead: Use DECU’s financial counseling services to develop a long-term tax strategy, such as planning for major life events like buying a home or starting a business.
- Stay Informed: Take advantage of DECU’s financial education resources to learn about changes in tax laws and how they might affect your finances.
Our Final Thoughts
Decatur Earthmover Credit Union’s partnership with TurboTax for the 2025 tax season is a testament to its commitment to supporting members during one of the most financially challenging times of the year. The 20% discount on TurboTax services provides significant savings, while DECU’s broader range of financial tools and resources ensures members have the support they need to navigate tax season and beyond.
While there are some limitations, such as regional membership requirements and a smaller branch network, DECU’s focus on affordability, community engagement, and personalized service makes it a valuable financial partner for its members. Whether you’re filing taxes, planning for retirement, or managing everyday finances, DECU and its partnership with TurboTax offer practical solutions to help you achieve your financial goals.