Clockwise to expand its services and help local children save money!

Clockwise Credit Union welcomes the recent changes to the Credit Unions Act that came into force on 8th January 2012. One of the key changes removes the restriction that everyone eligible to join a credit union has to have one thing in common. As such, the changes now allow credit unions to choose to provide financial services to new groups and develop new services and partnerships. These include community groups, charities, businesses, housing providers and social enterprises.

Mark Lyonette, Chief Executive of the Association of British Credit Unions (ABCUL) said, “The new rules mean credit unions can now compete more effectively with banks and other lenders to provide fair and affordable financial services to individuals and organisations…”

Jo Purdy, General Manager of Clockwise, said, “offering financial services to local businesses is one of the first changes Clockwise are keen to implement, contributing to improving the financial wellbeing of the community. We hope to implement the change by the end of our financial year in September. We are also launching a community focused savings project specific for Melton and will be running a pocket money club every Saturday morning for local children.”