Why we are different

What sets us apart from mainstream banking institutions is that we are a not for profit co-operative organisation. This means that money that members make and save from being a member stays in the local community. By coming together as a co-operative it gives all members access to low cost loans, as little as 8.7% APR.

As an ethical lender we assess each loan application on individual circumstances thereby enabling us to consider everyone, irrespective of their credit status or personal circumstances.

When you join Clockwise you benefit from becoming a shareholder; and all cash surplus generated is divided between our members as interest on savings & rewards for good borrowers.

We are able to offer a payroll membership scheme, whereby regular savings or loan repayments can be made directly from salary for those who work in partnered organisations such as ASRA Housing, Leicester City Council, Leicestershire County Council, Blaby District Council, Melton District Council, Hinckley & Bosworth Borough Council, B-Inspired, Centrebus and Leicester College.

Board of Directors

Clockwise is run by a Board of Directors made up of ten volunteers elected by the members at the AGM. We employ 24 full and part time staff who are responsible for the on-going development of Clockwise and running and administering of our main office in Leicester. In addition, staff support volunteers who work within the five community access points located throughout the city and county enabling remote access to our services.

Clockwise is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, is a member of the Financial Compensation Scheme and the Financial Ombudsman Service. In addition Clockwise is also a member of The Association of British Credit Unions (ABCUL).