Clockwise Credit Union Loans More Than £700,000 to Community

Thursday 25 January 2024

Since expanding its services to the community in Coventry and Warwickshire, following a merger with New Central Credit Union, Clockwise Credit Union has loaned more than £700,000 to its community.

The credit union has also welcomed more than 1,200 new members since the merger and as a whole has grown its membership to 22,000 members.

This year, Clockwise is celebrating its 30th anniversary and CEO Teresa Manning MBE says that the support the credit unions can provide to people struggling financially is now more important than ever.

“Since we merged with New Central Credit Union, we have seen a continued rise in our membership across Coventry and Warwickshire – a region where credit union membership has historically been relatively low,” said Teresa.

“Clockwise is there to support those that are financially excluded or struggling to make ends meet, and credit unions have a vital role to play in supporting families and individuals through the cost-of-living crisis.

“To have already delivered more than £700,000 worth of loans since the merger shows the need for affordable loans of this type, and we are pleased to be working with Burgis & Bullock as external auditors to ensure our finances are in order and working positively for our members.

“The merger in October made us one of the largest community credit unions in the Midlands and we are making inroads at improving the provision of affordable and ethical financial services throughout Coventry and Warwickshire.”

Source – Bdaily News