A line of credit to use again, and again, and again.

$1,000 Opportunity Line of Credit. 0% interest. No fees. Unlimited deferments.

Every dollar counts. But some months, there just aren’t enough dollars.

With a $1,000 Common Wealth Charlotte Opportunity Line of Credit you can manage your monthly expenses when your paychecks and your month don’t line up, and avoid payday and auto title loans. Then, make payments on time and you may even see your credit score increase!

  • The Common Wealth Charlotte Opportunity Line of Credit

  • $1,000, accessed in $200 increments

    Each CWC Opportunity Line of Credit is $1,000. You can access $200 or more for rent, childcare, car or utility expenses. Show a good payment history and you can access more.

  • 0% Interest

    You read it right. 0% interest. Nada. Payday and title loans charge 200%, 300% or more. With a CWC Opportunity Line of Credit, you back what you borrow and not a penny more. You’ll never enjoy a lower rate of interest.

  • No fees.

    No late fees. No prepay fees. No finance charges. No fees at all. None. CWC’s Opportunity Line of Credit is like nothing you’ll find anywhere.

  • Unlimited deferments.

    Can’t make your payment this month? No problem. Call us and we’ll give you a payment deferral. No questions asked. We want you to succeed - repay your loan and possible raise your credit score along the way.

  • Raise your credit score.

    There are no guarantees. But if you manage your CWC Opportunity Line of Credit well, you could see an increase in your credit score. Then, you can qualify for better rates on auto loans and even a mortgage.

Here’s how it works.

  • 1. Request an appointment

    At Common Wealth Charlotte, we believe in relationships. We want to know you and work with you. Good financial health starts with a plan. We’ll help you get started on a plan customized to you. Click below to request your appointment.

  • 2. Attend a Financial Workshop

    It’s amazing how much you can learn in one hour. Mary Quinn and Yuly Rodriguez help you understand some personal finance basics: spending and saving, avoiding fees and not getting trapped by bad credit. It’s the fastest hour you’ll ever spend!

  • 3. Meet Your Personal Loan Counselor

    Banks have loan officers. At Common Wealth Charlotte, you’ll have a loan counselor. You’ll meet and review your budget and credit report. Your CWC counselor is a certified credit counselor - so he or she can help you assess your own situation.

  • 4. Complete an application

    You are applying for credit. So you’ll need to complete an application. Approval will not be based on your credit score. We’ll give you a quick decision, and if you’re approved, you’ll move to step 4.

  • 5. Join Charlotte Metro Credit Union

    All of our lines of credit and payments will be through Charlotte Metro Credit Union. If you are approved, you’ll need to have an account at CMCU - but we pay your membership fee and initial deposit. Then, you’ll also have savings, checking and debit card accounts to better manage your money!

  • 6. Use your line!

    Once your line is approved and your account at Charlotte Metro is in place, you’ll be able to use your line of credit when you need it. You’ll do this through your CWC Personal Loan Counselor. $150 short for rent? Access $200 and cover the shortfall. Pay it back and make it available again next month. It’s an emergency savings account you replenish yourself.

Click Here to Request an Appointment and Get Started!

Too good to be true?

It’s good. And it’s true. Common Wealth Charlotte received funding from Mecklenburg County as part of the American Rescue Plan Act (ARPA) to create the lines of credit. There are three qualifications to apply: you must 1) be a resident of Mecklenburg County, North Carolina; 2) earn less than $50,000 a year and 3) be a member of Charlotte Metro Credit Union (CWC will pay your membership fee). That’s it. We’re happy to play a small part in your economic recovery from the COVID-19 pandemic.