This week, Clockwise Credit Union have extended its common bond to Coventry and Warwickshire, welcoming 3,500 members from New Central Credit Union, following a carefully planned merger. Established over 20 years ago, New Central was set up to alleviate poverty in their neighbourhood having witnessed the impact of credit unions in Ireland.
“We are delighted that the merger has come together. Throughout digital member service systems, financial and management systems, Clockwise aims to vastly improve the services to New Central Credit Union members,” says CEO of Clockwise, Teresa Manning. “By merging with an established credit union network it means that we can improve the financial services throughout Coventry and Warwickshire, where credit union membership is relatively low.
“In broadening our geographical base the merger also means widening the positive impact credit union products and services have on a local economy and in supporting the financial wellbeing of the local community.”