The 2025 tax season has officially arrived and many of us are looking for ways to make the filing process a little easier, while also saving some money along the way. One standout option this year is the 20% off TurboTax offer, available through the partnership between Baxter Credit Union (BCU) and TurboTax. For members of BCU, this partnership is a great opportunity to take advantage of a trusted tax preparation tool at a discounted price, simplifying the process of filing taxes and potentially maximizing refunds.
Let’s take a look into the specifics of this TurboTax offer, explore the history and background of Baxter Credit Union, and examine how this credit union is uniquely positioned to support its members, especially around tax season. We’ll also look at some of the pros and cons of banking with BCU, particularly as it relates to taxes and finances, and how the credit union’s products can help you manage your tax-related needs.
20% Off TurboTax for BCU Members: What You Need to Know
The 20% off TurboTax discount is available for all Baxter Credit Union members who choose to use TurboTax for their 2025 tax filing (note: be sure to compare this offer to all of TurboTax’s current 2025 coupons and offers). With this partnership, BCU members can save money on one of the most reliable platforms available for filing taxes.
How Does the Discount Work?
If you’re a member of Baxter Credit Union, all you need to do is log in to the BCU website or mobile app and find the link to TurboTax. Once you’re on the TurboTax site through the BCU link, the 20% discount will be automatically applied to your order when you select the version of TurboTax that best fits your needs. There are a variety of TurboTax products available, so members can choose the option that works best for their tax situation.
Here’s a breakdown of the different TurboTax products you might choose from:
- TurboTax Free Edition: Ideal for those with simple tax returns, such as those who only need to file a 1040 with standard deductions.
- TurboTax Deluxe: This version is for those who have more complex returns and want to maximize their deductions (such as home ownership, medical expenses, and charitable contributions).
- TurboTax Premier: For individuals with investment income, rental property income, or other more complicated tax situations, the Premier edition provides additional tools to navigate these areas.
- TurboTax Self-Employed: This option is specifically tailored for freelancers, independent contractors, and small business owners.
The 20% discount on these products makes TurboTax a more affordable option for BCU members, allowing them to take advantage of premium features without paying the full price. Whether you’re filing a simple return or something more complex, TurboTax can help guide you through the process efficiently and accurately.
History and Background of Baxter Credit Union
A Strong Foundation and Growth
Baxter Credit Union, also known as BCU, was founded in 1981 with a mission to provide financial services to employees of Baxter International, a global healthcare company. From its early days, the credit union grew rapidly as it expanded its membership base beyond just Baxter employees, opening its services to the communities around them. Today, BCU serves over 200,000 members across the United States, providing a range of banking products and services designed to meet the diverse needs of its members.
While BCU initially focused on serving employees in the healthcare industry, the credit union’s broadening membership criteria allowed it to expand its influence, positioning itself as an essential financial institution for people from various sectors and industries. This growth is not only reflected in its expanding membership but also in the $5 billion in assets it manages today.
Membership and Eligibility
One of the main benefits of being a part of BCU is the ease of joining and the wide range of eligibility options. Members can join if they are:
- Employees or retirees of Baxter International.
- Immediate family members of current members.
- People who live, work, or attend school in certain areas served by BCU.
If you meet any of these criteria, you can become a member and start benefiting from the financial services offered by BCU.
BCU’s Tax-Related Services
During tax season, BCU offers several services that can help its members manage their finances more effectively. For many, this is the time of year when taxes take center stage, and it’s important to have the right tools and support to navigate the process. Let’s explore some of the ways BCU can help.
Tax-Advantaged Accounts
BCU offers a variety of tax-advantaged accounts that are useful for both tax preparation and tax savings:
- Individual Retirement Accounts (IRAs): Whether you opt for a Traditional IRA or a Roth IRA, BCU provides options that allow you to save for retirement while potentially reducing your taxable income. Traditional IRAs offer tax-deferred growth, meaning you don’t pay taxes on contributions until retirement. Roth IRAs, on the other hand, allow for tax-free withdrawals in retirement.
- Health Savings Accounts (HSAs): HSAs offer triple tax advantages: contributions are tax-deductible, earnings grow tax-free, and withdrawals used for qualified medical expenses are tax-free as well. They are a great way to save for healthcare costs while reducing your taxable income.
- Certificates of Deposit (CDs): While not directly related to taxes, BCU’s CD offerings are a safe and low-risk way to save money, potentially helping you earn interest while minimizing taxable gains.
Personal Loans for Tax Liabilities
Some members may face tax liabilities or fees that they need to pay off over time. BCU offers personal loans to help members cover unexpected expenses, such as outstanding taxes. These loans come with competitive interest rates, providing an affordable solution to managing tax debt.
Direct Deposit for Tax Refunds
For members expecting tax refunds, BCU’s direct deposit service is a fast and reliable way to receive funds. When you file your taxes, selecting direct deposit ensures your refund goes straight into your BCU account, typically much faster than receiving a check.
Financial Education and Tax Resources
BCU places a strong emphasis on financial education, and this is especially evident during tax season. Members have access to a variety of educational resources, such as:
- Tax preparation workshops: BCU periodically offers workshops to help members understand how to prepare and file their taxes.
- Online resources: From tax calculators to articles on maximizing deductions, BCU’s website offers tools that can make tax season less daunting.
- One-on-one financial counseling: For members who need personalized assistance, BCU offers financial advisors who can guide them through tax-related questions and strategies.
Benefits of Banking with BCU
Baxter Credit Union’s member-first philosophy means that its members are at the heart of everything it does. Here are some key benefits of being a member of BCU, especially around tax season:
- Lower Fees: Credit unions tend to have lower fees for services compared to traditional banks, and BCU is no exception. This is particularly important during tax season, as many tax-related services (such as filing fees, loan interest, or transaction charges) can add up quickly.
- Higher Rates on Savings: BCU offers competitive interest rates on savings accounts and CDs, helping you earn more from your savings as you prepare for taxes or other financial goals.
- Personalized Service: With a credit union, you’re more than just an account number. BCU’s staff is known for offering personalized service and advice tailored to your needs.
- Community Focus: As a member-owned financial institution, BCU reinvests profits into better rates, lower fees, and community programs. This can help you feel good about your financial relationship with them.
Drawbacks of Banking with BCU
While there are many benefits to being a part of BCU, it’s important to acknowledge some drawbacks:
- Limited Locations: BCU is a regional credit union, so its branch network is primarily located in certain parts of the U.S. Members outside of these areas may not have access to as many physical branches.
- Membership Eligibility: While it’s easy to join if you meet the eligibility requirements, some people may find it difficult to qualify for membership.
- Technology Limitations: Although BCU offers online banking services, they might not have the same extensive digital infrastructure as some of the larger, national banks.
Preparing for the 2025 Tax Season
If you’re a BCU member preparing for the 2025 tax season, here are some tips to make the process smoother:
- Take Advantage of the TurboTax Discount: Don’t forget to access your 20% discount for TurboTax through BCU’s website.
- Gather Your Documents: Make sure you have all your tax documents in order—W-2s, 1099s, receipts for deductions, etc.
- Consider Opening Tax-Advantaged Accounts: If you haven’t already, now is a great time to open an IRA or HSA with BCU to reduce your taxable income.
- Ask for Help: If you need assistance with your taxes, don’t hesitate to take advantage of BCU’s financial education resources or consult with an advisor.
Our Final Thoughts
The 20% off TurboTax offer through Baxter Credit Union is an excellent opportunity for members to save money on tax preparation software. Whether you’re filing a straightforward return or dealing with a more complex financial situation, TurboTax can help you navigate the process with ease and accuracy.
Baxter Credit Union has a long history of supporting its members, offering a variety of financial tools, tax-related services, and educational resources to make managing your finances easier. From IRAs and HSAs to low-fee loans and personalized service, BCU provides members with everything they need to achieve their financial goals. While there are some limitations to consider, BCU remains an excellent option for those who qualify and want to take advantage of the credit union’s benefits during tax season and beyond.