Making Wealth Possible for All
Commonwealth is a national nonprofit building financial security and opportunity for financially vulnerable people through innovation and partnerships.
New Brief
How Best Buy Enabled a $1.5 Million Increase in Employee Emergency Savings
As part of BlackRock’s Emergency Savings Initiative, Best Buy in collaboration with Commonwealth and Wings Credit Union, utilized a multi-strategy engagement campaign to drive participation in their Savings Builder Program, resulting in nearly $1.5 million in increased savings. This brief summarizes a comprehensive review of the initiative.
Featured
One Way to Help Employees Build Emergency Savings
In this article from Harvard Business Review, Commonwealth’s Tim Flacke and Board Chair Peter Tufano detail how intentional cooperation between two organizations — BlackRock and Commonwealth — created the conditions for the nation’s largest payroll processor, multiple U.S. employers, retirement record keepers, and others to work together to help address systemic U.S. household financial insecurity through workplace-based savings plans.
Parents and Caregivers Saving for Today and the Future
Through BlackRock’s Emergency Savings Initiative, Commonwealth and the Defined Contribution Institutional Investment Association’s (DCIIA) Retirement Research Center (RRC) researched how employers, recordkeepers, and policymakers can support people earning LMI in building long-term savings for themselves and their children.
Can Tax Incentives Boost Workplace Emergency Savings?
In this report, Commonwealth reviews existing tax credits and incentives to promote participation in employer-sponsored emergency savings benefits and uncovers how these might be applied to emergency savings accounts (ESAs).
Research & Insights
At Commonwealth, we share our original research and practical solutions—through briefs, research reports, videos, and infographics—to provide you with innovative ideas, practical insights, and the tools you need to act.
Featured Research
Chatbots Can Be a Tool for Improving Financial Well-Being
The design of new financial technologies often focus on people with greater resources, overlooking the needs of households living on low and moderate incomes (LMI)—deepening inequity and limiting access to the next generation of financial tools and services.
Chatbot or Human? Research Shows Preference is Based on Task
The financial industry is increasingly adopting new technologies such as chatbots powered by generative AI. However, their design often prioritizes the needs of consumers with higher incomes over those of households living on low and moderate incomes (LMI)—deepening inequality and limiting the potential of these new technologies to support financial security for all.
Parents and Caregivers Saving for Today and the Future
Through BlackRock’s Emergency Savings Initiative, Commonwealth and the Defined Contribution Institutional Investment Association’s (DCIIA) Retirement Research Center (RRC) researched how employers, recordkeepers, and policymakers can support people earning LMI in building long-term savings for themselves and their children.
Events & News
Our speakers’ programs and media placements provide an opportunity to discover new data, receive expert insights, and strategize for organizational success. Join us in conversation as we work towards a more equitable and prosperous financial future for all people living in the United States.
recent news & upcoming events
One Way to Help Employees Build Emergency Savings
In this article from Harvard Business Review, Commonwealth’s Tim Flacke and Board Chair Peter Tufano detail how intentional cooperation between two organizations — BlackRock and Commonwealth — created the conditions for the nation’s largest payroll processor, multiple U.S. employers, retirement record keepers, and others to work together to help address systemic U.S. household financial insecurity through workplace-based savings plans.
Conversational AI Power Partners: How Partnerships Lead to Equitable Product Design
Commonwealth Senior Vice President Paula Grieco will engage in a discussion with Benjamin Maxim, Chief Digital Strategy and Innovations Officer at MSUFCU, about the significance of integrating inclusivity into fintech product design to create tangible, wealth-building opportunities for individuals with low and moderate incomes.
Our Partners and Supporters
To advance innovation and systemic change, we collaborate with employers, financial services firms, fintechs, foundations, policymakers, retirement recordkeepers, payroll platforms, and workplace solutions providers. Financially vulnerable people living in the United States face complex challenges, and together with our partners, we make financial security possible for millions of people.