Clockwise Credit Union Surpass 20,000 Members

Friday 26 January 2024

Reporting to members at its AGM, Clockwise Credit Union were delighted to share positive membership growth figures, with a 22% increase, which brings total membership to over 22,000.

Reflecting on a successful 2022 at its AGM, Chair of Clockwise also shared that earlier in the year reward its savers with interest and promote responsible lending with Clockwise’ Rewarding Borrowers Scheme. In total, Clockwise paid out £90,000 to its members in 2022.

In June 2022, the credit union launched the Clockwise Current Account & Debit Card. The launch of the current account transformed Clockwise into a one-stop-shop for banking services. Its core services of savings and loans are a lifeline to many of our members. Now, all of Clockwise members’ banking services can be handled in the same place.

After the account landed, Chief Executive Officer, Teresa Manning, said: “We pride ourselves on being one of the UK’s most progressive financial co-operatives, as evidenced by the expansion of our partnership with Engage – another organisation that is committed to making the financial services sector fairer for all. The partnership means we can provide members with a modern, cost effective card and account, allowing us to compete effectively with major banking brands.”

Reflecting on another successful year, Teresa added: “Supporting our members through this difficult time is our highest priority and I am immensely proud of the staff. They have been brilliant in the past twelve months, demonstrating their skills and professionalism, true empathy and understanding for the problems members are facing.

“We are all doing what we can to help members build financial resilience and I know will continue to do so – part of that is ensuring Clockwise itself is in a strong position to provide the products and services members need.”