About Clockwise Credit Union
June 2008 Great News! Clockwise opens second office to serve Melton Mowbray.
Clockwise is a credit union for Leicester, Leicestershire and Rutland. Its legal name is Clockwise Credit Union Limited and Registered Number is FRN213498. It came into existence in November 2002, when the Financial Services Authority gave permission for Highfields Credit Union to operate across the City 
and in 2007 this extended to the County plus Rutland. We now have two offices; Main office is at 20, Pocklingtons Walk Leicester with our new office which opened in June 2008 in Melton.
(right, the opening of the Leicester office by Patricia Hewitt MP)
Clockwise is authorised and regulated by the Financial Services Authorities, is a member of the Financial Compensation Scheme and the Financial Ombudsman Scheme. In addition Clockwise is also a member of the Association of British Credit Unions (ABCUL).
Read our Annual Report 2009 (pdf, 3mb)
Autumn 2009 Update for members (pdf, 600kb)
We currently have over 4,000 Members with £1,580,000 of savings, 456 Young Savers with £120,000 of savings and 1700 loans of £1,820,000 in value (Sept. 2009).
Included in our savings are 179 ISA tax free savings accounts and 177 Child Trust Fund (CTF) accounts.
In July 2009 we launched the Clockwise Current Account (Clockwise Current Account) offering members access to a bank account which has Direct Debit, Standing Order and ATM cash access facilities and for those who qualify, a debit card, including Cash Back form participating shops.
Members benefit from included life insurance on both savings and loans. On savings, the amount a member saved before they reach the age of 65 is doubled in value should they pass away and on loans, any loan granted before a member reaches the age of 70 dies with the member. (Subject to terms and conditions).
For the last three years we have paid members a 2% dividend on shares (savings), However, with the current interest rate market this is likely to reduce in line with general market rates. In 2006, Clockwise was one of the first credit unions in Britain which launched a Cash ISA - tax free high return savings. We currently pay 3.0% on both ISA’s and CTF’s.
We are able to offer a payroll deduction Scheme for regular savings or loan repayments to Leicester City Council, Leicestershire County Council, Market Harborough and Melton Mowbray District Councils and BCA Braunstone, and more recently for employees of Hinckley & Bosworth Borough Council.
Our Head Office is based at 20 Pocklingtons Walk, Leicester, LE1 6BU. In addition we have a new office at 4 Market Place, Melton and a number of community based collection and information points across the City and County.
We employ six full time staff and seven part-time staff, all of whom are involved in the running and administering of the head office and Melton, ongoing development of Clockwise and support of the collection and information points and the volunteers. We currently have well over 40 volunteers working within the collection points, helping us to develop the services for the City, the County, working at our head office plus our Board Directors.
Clockwise is run by a Board made up of volunteers elected by the membership. We currently have 9 Board Members, however, we are constantly looking for new board members that can either bring new skills and competences to the Board or ensure all areas of the community are well represented.
Updated: September 2009.