OUR SOCIAL IMPACT

Clockwise is a regional credit union, serving members in Leicester, Leicestershire, Rutland, Coventry, Warwickshire and Northamptonshire.

Over the past two years that this report covers we have increased the area we serve to include Coventry and Warwickshire, increasing our membership and outreach whilst remaining financially robust.

In 2019/2020, we commissioned an external assessment using the Social Return on Investment (SROI) approach as we are very much aware that Profit and Loss accounts and Balance Sheets only look at the pounds and pence. Just as we wanted to know more back in 2019/2020, we continue to evaluate the impact that Clockwise Credit Union has with its members:

To answer these questions, we commissioned an external assessment using the Social Return on Investment (SROI) approach. 

SROI is a framework for measuring and accounting change – the difference that we make to people and the planet. We used SROI so that we could find out:

• Where we are making the biggest impact
• Measure the difference we are making
• To use the data to inform planning & decision making
  
  

SROI is much more than just a number. It is a story about change, on which to base decisions, that includes case studies and qualitative, quantitative, and financial information. SROI tells the story of how change is being created by measuring the social outcomes and it uses monetary values to represent them. This enables a ratio of benefits to costs to be calculated.