The Board of Directors of Common Wealth Charlotte welcomes Luis Lobo to its membership!

“I don’t know. 20%? 30%?”

“That’s the answer I hear most when I ask people, ‘What is the highest APR (annual percentage rate) a predatory lender can charge?’” says Chuck Jones, executive director of Common Wealth Charlotte.“Unfortunately, when it comes to APR, perception and reality are very far apart.”

“The truth is we see predatory loans with effective APRs of 300% and above.”

How can this be?

[NOTE: This is the last story of a four-part series featured in Charlotte is Creative’s newsletter, The Biscuit, for April’s Financial Literacy Month. This week features insight from Common Wealth’s Executive Director, Chuck Jones.]

By Laura Barrero | Published in Axios Charlotte on April 29, 2022

In 2018, India was jobless, homeless and doing anything she could to turn things around. Today, her credit score is in the 700s and she’s saving up to buy a house.

She credits the local nonprofit Common Wealth Charlotte for her success. “It’s been like a holistic blessing for me,” says Simmons.

Common Wealth Charlotte helps people in Charlotte change their lives through financial literacy.

Jason Harper from QC News interviewed Amy Jacobs to learn more about Common Wealth Charlotte, and the unique financial services they offer Charlotte-Mecklenburg. Click “read more” to watch the interview!

Have you ever been rejected for a financial product you needed? If so, you’re not alone.

In fact, according to industry statistics, approximately 80% of near-prime or subprime credit card applications are denied. Beyond the embarrassment of being denied a credit product, being rejected for a line of credit could mean the difference between paying for an unexpected emergency or purchasing a car so you can travel to and from work every day.

These are critical moments that can make or break a person, financially.

[NOTE: This is the third story of a four-part series featured in Charlotte is Creative’s newsletter, The Biscuit, for April’s Financial Literacy Month. This installment on how to build good credit features insight from Andy Jenkins of CreditKarma, and a member of our Board of Directors. ]

“$500 – Due upon receipt.”

For some in Charlotte, this is just another bill to pay. Just another day. For others, these four words can be catastrophic.

“$500 – Due upon receipt” could be the bill you receive for an insurance deductible or major car repair or an unfortunate veterinary bill. It could be a nasty surprise that forces you to make very difficult life choices. For many Charlotteans, including members of the creative community, it could be the difference between paying rent, buying groceries or being able to purchase the materials you need to create.

Are you ready if one of these emergencies finds its way into your life?

[NOTE: This is the second story of a four-part series featured in Charlotte is Creative’s newsletter, The Biscuit, for April’s Financial Literacy Month. This story is written by Catherine Etemad of HomeTrust Bank, and a member of our Board of Directors. ]

It’s no secret. For the last two years, Americans have been faced with multiple interlocking and compounding crises. COVID-19 might have been the scariest, but it was far from the only threat.

[NOTE: This is the first story of a four-part series featured in Charlotte is Creative’s newsletter, The Biscuit, for April’s financial literacy month. This story is written by Common Wealth Charlotte’s own Tonia Frazier, MSW.]

Charlotte, N.C., Monday, March 7, 2022

Common Wealth Charlotte is pleased to announce U.S. Bank’s 3-year commitment to CWC to assist the nonprofit organization in its mission to serve Charlotte’s low-income wage earners by promoting financial capability as a true pathway to upward economic mobility.

As the price of gas, groceries and rent rise here in Charlotte, PBS Charlotte invited two Common Wealth Charlotte clients and our very own Tonia Frazier to share their perspectives on the impact of inflation, particularly for families of lower-income.

Telemundo recently sat down with Yuly Rodriguez, Common Wealth Charlotte’s Program Director of Latinx Initiatives, to learn more about VITALatino and our FREE tax prep offering exclusively for the Latino community.

The Board of Directors of Common Wealth Charlotte welcomes Kayla Taylor, CFP®, Senior Analyst, Vanguard, to its membership.

Congratulations Mary Quinn, Director of Financial Education at Common Wealth Charlotte, on being named Educational Leader of the Year at the 2021 Heart of Charlotte Awards!

Written by Katie Peralta Soloff for Axios Charlotte

Coronavirus is only stretching existing disparities in Charlotte.

“It has actually highlighted the problems that we’ve had and we’ve known about before,” Charlotte Planning Director Taiwo Jaiyeoba said in a recent interview.

Giving back during the holiday season feels especially important this year, with so many in our community going through significant challenges.

By Lauren Levine Corriher for AXIOS Charlotte, December 16, 2020