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Students Learn Valuable Life Skills in Personal Money Management

November, 2018
  • WCU President & CEO Karen Duffy
    WCU President and CEO Karen Duffy talks about personal money management with QCC students.
  • Karen Duffy & Vaughn Lee
    WCU President and CEO Karen Duffy and QCC student Vaughn Lee

Personal money management is an integral part of being successful in the world, and no one understands that better than CEO and President of Worcester Credit Union (WCU) Karen Duffy, a 25 year veteran of the credit union. On November 15, Ms. Duffy presented a talk on personal money management to QCC students. The event was hosted by QCC’s Business Administration department.

QCC Professor of Business Administration Jean McLean said the college “...was honored to have Karen Duffy address our business students on the topic of personal money management. Business Transfer student Vaughn Lee, who serves with me on the Student Success Committee, approached me last month and expressed interest in having a speaker come to campus to talk about financial literacy. I immediately thought of Karen, who gave an excellent presentation here about five years ago.”.

Ms. Duffy spoke to students about having financial control, budget saving tips, technology tools in online banking, mobile banking, Apple Pay, and popmoney services such as Zelle and Venmo, which enables individuals to send and receive payments electronically. She discussed ways to avoid overdraft fees by using services available at your credit union or bank, the signs of financial distress and debit vs. credit. She told those in attendance to not be afraid to ask questions because your money matters!

"The goal of developing personal money management skills is to provide a basic understanding of your finances and the accounts you use to pay bills and accumulate savings so that you can be self-sufficient," Ms. Duffy said."Everyone can and should have checking and savings accounts free of monthly service charges – you don’t need hundreds or thousands of dollars on deposit. Look to your local institutions and you’ll find them."

“Karen had a lot of knowledge to impart to students - everything from setting up a budget to using credit wisely. She is also a champion of working women and a member of the Women's Political Caucus,” Professor McLean added.

“Of the 75 people who listened and learned about personal money management, Karen Duffy’s impact in advocating financial literacy education was extensive. That's the reason why I coordinated this event to help people of the community better understand their financial values and goals,” said Mr. Lee. “I want to thank Professor McLean, Dean of School of Business, Engineering, and Technology Betty Lauer, and Career Development Counselor Nicole Wheeler for their support of this event.”