Building Financial Security & Wealth for Low and Moderate Income (LMI) Households
Our vision
Building Financial Security, Enabling Wealth, Transforming Households
Commonwealth is committed to creating financial security and wealth for all. By 2027, our strategic plan will enable 10 million families to build $15 billion in wealth through systemic workplace, financial, and tech solutions.
Financial insecurity and wealth gaps remain widespread, sparking concern and deeply harmful consequences for households, communities, employers, and the economy. We ensure that the needs and aspirations of LMI people are understood, visible, introduced early into relevant conversations, and integrated into solutions.
Let’s build the future together.
Financial Security Through Work
Financial security should be a given for all working people, and employers have a unique opportunity to help make this a reality. Wages are critical but insufficient alone. By offering emergency savings and other programs, debt repayment support, and better tax incentives, employers can empower employees to achieve greater financial stability.
I have a lot more confidence in my financial foundation knowing that I have money elsewhere.”
Autonation Employee
From our case study, How AutoNation Brought a Multi-Solution Emergency Savings Benefit Program Access to 24,000 Employees
BRIEF
Employee Perspectives on SECURE 2.0
Emergency Expense Provisions
From our brief, Incentives to Increase Emergency Savings Enrollment
MORE ON Financial security through work
Access to Wealth Building
Too few people working to build wealth through capital markets underscores the need for systemic change. Creating more inclusive platforms, products, and services enables people with modest incomes build wealth.
It started off with just making those recurring investments, starting off at, you know, from $5 to $10, $50 to $100 a paycheck and like ramping up.”
Christian, investor diaries participant
From our project, The Investor Diaries
REPORT
Transforming Investor Identity Final Report 2024
73% of participants who felt represented by imagery of people who resonate with their self-identity, also reported a sense of belonging within the investing community.
From our toolkit, Unlocking Investor Identity
MORE ON Access to wealth building
AI for Financial Opportunity
Realizing the full potential of financial technology as a democratizing force means addressing the unique needs of all audiences, including those with low and moderate incomes.
The findings suggest there is a significant relationship between individuals’ financial situations and their specific concerns and preferences regarding financial technologies such as chatbots and virtual assistants.”
From our report, Emerging Technology for All: Conversational AI’s Pivotal Role in Improving Financial Security and Opportunity
BRIEF
A Pivotal Juncture for Financial AI
Designing for the Needs of Low and Moderate Income Households
Comfort with digital banking, by income level
From our report, Generative AI and Emerging Technology: Actionable Insights for Financial Service Providers
MORE ON AI for Financial Opportunity
New Pathways to Financial Security
Advancing additional strategies, partnerships, and areas of work that expand financial security and opportunity.
In 2024, there were 27 billion-dollar weather/climate disasters in the U.S. Each of these events has rippling effects on households. Extreme weather places additional financial burdens on low- and moderate-income households that lack assets to manage the unexpected financial impact of life stressors.”
From our blog, Advancing Climate Resilience and Economic Security in the Current Context
BRIEF
Unlocking Opportunity
How U.S. Bank and Commonwealth Turn Deposit Windfall Moments into Financial Security
49% of workers living on LMI have experienced negative changes in their work due to climate change.
From our research, Feeling the Heat: Climate Change’s Impact on Worker Financial Security
Reshaping Financial Systems
Through action-oriented innovation, Commonwealth is reshaping the financial industry to better serve individuals with low and moderate incomes. We do this by collaborating with partners, policymakers, and employers on integrated solutions that transform communities and strengthen the economy by:
Expanding possibility
Collaborating with industry leaders to launch cutting-edge financial tools, security benefits, and transformative technologies.
Expanding access
Utilizing public, private, and social networks to deliver these solutions to more people.
Expanding impact
Driving widespread adoption to create lasting change in financial security and wealth-building.
Our Partners and Supporters
