STCC answers financial questions with new Thrive Financial Success Center

Dec. 10, 2015 | G. Michael Dobbs
news@thereminder.com

SPRINGFIELD – Have a financial literacy question? Wonder how to increase your credit score? Need a place for tax preparation? The new Thrive Financial Success Center at Springfield Technical Community College (STCC) has those answers and much more.

Officials from STCC as well as PeoplesBank and the United Way of the Pioneer Valley gathered at STCC on Dec. 3 to announce the new program. MassMutual Financial Group is also supporting the program.

The free programs offered at the center when it opens its doors during the first week of January 2016 include confidential benefits screening and enrollment; money skills class; individual financial coaching sessions; free income tax prep through the Volunteer Income Tax Assistance (VITA) program; links to workforce development and training workshops; and LifeBridge, MassMutual’s free life insurance program.

Thomas Senecal, executive vice president and COO of PeoplesBank, said, “Financial literacy is an important part of what we do.”

Carin Savel, senior vice president, Resource Development & Strategic Communication for the United Way of the Pioneer Valley said, “knowledge changes everything and that the bottom line.”

George Kohout, the director of the program, explained to Reminder Publications the goal is to help 400 students and members of the community with answers to their financial questions during the center’s first year.

The program is intended to increase participant’s credit scores by an average of 10 percent; assist at least 50 participants create and maintain a household budget for at least six months and assist at least 50 people to access workforce training in preparation fore living wage jobs.

Kohout said the center came about by seeing the college’s adult education students “hobbled by a lack of financial knowledge.”

He said there is no eligibility requirements or screening of potential participants.

“We won’t be screening people out, but screening people in,” he said.

Kohout said the college has already been taking calls from people interested in the program. While STCC already has a service that can assist students with money matters, the Thrive Center will bring similar services to the general public, although students can also use it.  

“Building financial awareness and planning skills is essential to our students’ and our community’s economic prosperity,” STCC President Ira H. Rubenzahl said. “Many of our students are over burdened with outside financial struggles. Coupling career guidance with access to financial coaching will assist Thrive participants to make informed decisions that will make their lives easier, allow them to remain focused on their studies, and prepare them for future employment.”

This will be the third Thrive Center in Hampden County with the other two operating in partnership with the United Way at Holyoke Community College and at the Picknelly Adult and Family Education Center in downtown Holyoke.

To learn more, contact Kohout at 755-4473 or go to www.stcc.edu/thrive.

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