Common Wealth Charlotte | SHARE Charlotte

Common Wealth Charlotte

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Year Founded:
2015
Local Leader / Exec. Director:
Darren Ash/Executive Director
Main Address:
5301 Wilkinson Blvd.
Charlotte, NC 28208

What We Do

Common Wealth Charlotte (CWC) is an innovative non-profit organization providing financial empowerment to Charlotte’s low-wage workers and at-risk teens through financial education coupled with access to traditional, yet specially-designed banking products and services. CWC's trauma-informed financial education (TIFE) curriculum results in a more financially-capable workforce, producing long-lasting change and creating success for both employee and employer.

TIFE is a new best practice introduced in the Charlotte region by Common Wealth, and involves a deep understanding and recognition of the physical, psychological, and emotional trauma experienced by our most fragile working poor. It accomplishes its effort by empowering clients in both classroom and one-to-one settings, create an environment of safety, trustworthiness, transparency, peer support, mutual respect, consumer choice, and culturally relevant discourse.

CWC's unique approach provides access to a re-banking program and donor-funded loan collateral pool, allowing its credit union partner to bank and make low-interest loans (called CWC Opportunity Loans) to clients with otherwise insufficient credit scores. These services enable clients to start on a pathway of upward mobility and break out of the cycle of poverty by providing an affordable alternative for depositing paychecks, addressing financial emergencies, refinancing existing predatory debt, and paying off items that negatively affect credit scores.

Interesting Info

A CWC Opportunity Loan is our client-friendly alternative to predatory payday and title loans.
$26 opens a traditional checking and savings account for a previously non-banked client.
150,000 people in Charlotte/Mecklenburg make $10 per hour or less, with the majority having had no financial literacy education.

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