A credit union is a fair, responsible and ethical alternative provider of savings and loans and is authorised and regulated in the same way that banks and building societies are. Savings are protected by the Financial Services Compensation Scheme, up to £85,000 per individual.
Over 1.5 million people around the country are credit union members and organisations such as Royal Mail, British Airways, the NHS, BAE Systems and many others partner with credit unions to offer their employees a way of saving and borrowing through payroll.
Clockwise Credit Union is a member of ABCUL (the Association of British Credit Unions Limited), the leading trade association for credit unions in Great Britain.
In 2019, ABCUL partnered with the Chartered Institute of Credit Management (CICM) and ITN Productions to produce a news-style programme, ‘Credit Experts’.
This highlights the work that credit unions do on a daily basis within local communities around the country and shows the importance role credit unions play within the UK and the challenges faced in delivering technology that fits into the modern consumer lifestyle.