Capital One’s President of Retail Bank will help guide Commonwealth’s work to advance financial security and opportunity for low and moderate income households.
[BOSTON, MA — OCTOBER 9, 2026]—Commonwealth, a national nonprofit building financial security and opportunity for low and moderate income households through innovation and partnerships, today announced that Celia Edwards Karam, President of Retail Bank at Capital One and a member of Capital One’s Executive Committee, has been named Vice Chair of Commonwealth’s Board of Directors.
Celia has served on Commonwealth’s Board since 2015, bringing extensive experience in financial services, consumer banking, and innovation to the organization’s work. As President of Capital One’s Retail Bank, she oversees its strategy, growth, operations, and profitability. She has held senior leadership roles across Capital One’s businesses, including Chief Audit Officer, Card Chief Operating Officer, and Head of Small Business Banking, where she led a strategic transformation of the business and its digital experience.
“Celia brings a unique combination of financial services expertise, a deep understanding of consumers and a strong commitment to expanding financial opportunity,” said Tim Flacke, CEO and Co-Founder of Commonwealth. “Her leadership on our Board has already been incredibly valuable, and I’m thrilled to work with her as Vice Chair.
As Vice Chair, Ceila will work alongside Commonwealth’s Board leadership and staff to advance the organization’s mission and strategic priorities. Her appointment comes at an important moment as Commonwealth works with employers, financial institutions, fintechs, philanthropy, and policymakers to develop and scale innovations that help low and moderate income households build financial security and wealth.
“I’m honored to serve as Vice Chair of Commonwealth’s Board and to deepen my involvement in an organization whose work is so closely aligned with the future of financial opportunity,” said Celia Edwards Karam. “Commonwealth has a strong track record of bringing together organizations across sectors to turn innovative ideas into practical solutions that can improve people’s financial lives. I look forward to working with the Board, Tim, and the Commonwealth team as we build on that momentum.”
Ceilia’s appointment reflects Commonwealth’s continued commitment to engaging leaders across the financial services and business communities in advancing solutions that make financial security and wealth building more accessible.
“As Commonwealth looks toward its next chapter, we’re fortunate to have Celia’s leadership and perspective helping to shape what comes next,” said Peter Tufano, Co-Founder and Chairman of the Board of Commonwealth. “She will help us continue to build partnerships and develop solutions that can reach millions of working families.”
Founded in 2001, Commonwealth is a national nonprofit celebrating 25 years of building financial security and opportunity for low and moderate income households through innovation and partnerships. For a quarter of a century, Commonwealth has designed effective innovations, products, and policies enabling nearly 2.5 million people to save nearly $9 billion. Commonwealth collaborates with consumers, the financial services industry, employers, and policymakers. Because Black, Latin, and women-led households disproportionately experience financial insecurity, we focus especially on these populations. The solutions we build are grounded in real life, based on our deep understanding people living on how and moderate incomes and how businesses can best serve them. To learn more, visit us at www.stg-buildcommonwealthorg-staging.kinsta.cloud.