The Durham Devils Club, the Collective supporting Duke University student-athletes, is founded on its “4 + 40” philosophy, preparing student-athletes for success during their four years at Duke and the forty years beyond. Through Duke’s distinguished alumni network and passionate fan base, this NIL collective empowers student-athletes with solutions essential for success in athletics, academics and life after their time as Blue Devils.
Empowering Student-Athletes for Long-Term Success
Josh Cox, Durham Devils Club Director of Operations, summarizes the club’s vision:
“We seek to provide our standard of excellence for our student-athletes. They made a four-year decision to come to Duke University. The Durham Devils Club wants to add to that. One way we do this is through our relationship with Teamworks. Teamworks Influencer and now Teamworks Wallet is another element to the excellence that we are providing them.”
Addressing Critical Financial Challenges with Digital Banking Built for Student-Athletes
In today’s NIL landscape, student-athletes face significant hurdles that can impact their daily lives and future financial success. One of the most pressing challenges has been payment processing delays, with some athletes waiting up to two weeks to access their earnings.
“It might say 7-10 business days, and by the time it actually hits our accounts, it could be even 15 days,” reports one Duke student-athlete, highlighting how these delays can affect essential expenses like rent payments.
“We want our student-athletes to be able to access their money immediately. We also want them to make good financial decisions for their future,” explains Cox, a key Durham Devils Club leader in this initiative.
Recognizing these challenges, the Durham Devils Club partnered with Teamworks Wallet to provide a comprehensive solution that aligns with their commitment to excellence:
- Instant Payment Access: Eliminating traditional processing delays to help athletes manage time-sensitive expenses
- Tax Reserves Account: Offering 4x the national average interest rate while helping athletes prepare for tax obligations
- Business Account Support: Streamlined setup for student-athletes with LLCs
- Seamless Integration: Connected to Teamworks Hub and Influencer
Student-athletes see Wallet’s impact immediately. As one student-athlete was checking out the Wallet app, he said:
“I definitely like the Tax Reserves Account, especially its interest rate that’s four times higher than the national average. I’ll start putting money in the Earn and Tax Reserves accounts, so it’s not just sitting in my other bank account collecting dust.”
Streamlined Operations for Collectives and Universities: One Destination for Payments
Teamworks Wallet allows the Durham Devils Club to operate more efficiently while eliminating transaction fees that typically reduce student-athlete earnings. So that means more cash in student-athletes’ pockets. The platform’s integration with existing Teamworks products creates a unified ecosystem that simplifies payment management and reporting.
“The Durham Devils Club chose to go with Wallet for a couple of different reasons, but it’s really all about the student-athlete and the seamlessness of the ease of it. It just makes perfect sense for us,” notes Cox.
Creating Lasting Impact: Maximize Your Student Athletes’ Wallet Share
The partnership between the Durham Devils Club and Teamworks Wallet represents more than just a short-term NIL payment solution – it’s an investment in student-athletes’ long-term financial success.
By providing immediate access to earnings and technology for responsible financial management, this collaboration empowers athletes to make informed decisions about their financial future. Through this innovative approach to financial empowerment, the Durham Devils Club continues to demonstrate its commitment to supporting student-athletes both during their collegiate careers and well into their professional futures.
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