Clockwise Credit Union has been officially accredited as one of the first Community Development Credit Unions (CDCUs) in Great Britain, through a pioneering initiative led by All Together Money. This initiative aims to strengthen financial inclusion and support financially underserved communities across the country.
The Community Development Credit Union Project, launched in 2024, builds on international best practice, particularly from the United States, where the CDCU model has helped credit unions reach millions of low- and moderate-income households over the past 50 years.
A Community Development Credit Union is defined by its mission to serve low- and moderate-income individuals and communities. These credit unions focus on reaching people who may have limited access to safe and affordable financial services, helping to build financial resilience and support long-term community wellbeing.
Working with All Together Money, Clockwise Credit Union and seven other pathfinder credit unions carried out detailed analysis using the CACI Acorn profiling system. This showed that 68.4% of members across the CDCU network fall within financially vulnerable groups, including those facing limited budgets, rising living costs, or challenging financial circumstances.
Further analysis found that, across their local areas, CDCUs currently serve an average of 2.5% of households within these groups. While this highlights the impact already being made, it also shows the opportunity to extend support even further into communities that need it most.
This accreditation recognises Clockwise Credit Union’s continued commitment to providing fair, affordable, and inclusive financial services, with community development at the core of everything we do.
From All Together Money
“The Community Development Credit Union initiative is about building stronger, fairer financial institutions that serve whole communities, not just one section of society. Sustainable credit unions succeed when they serve a balanced and diverse membership, reflecting the true spirit of people helping people.”
“Our goal is clear. We want credit unions to be bold, innovative, and equipped to reach further into the communities they serve. We’ve seen in the United States how this approach can transform access to ethical financial services for millions of people. Now, we want to build that same momentum here in Great Britain.”
What this means for our members
For our members, this accreditation reinforces something that has always been central to Clockwise. We exist to support people, especially those who may not always be well served by mainstream finance.
It also means we will continue to expand access to fair and affordable credit, support members in building financial resilience, invest in the communities we serve, and use data and insight to better reach those who need us most.
About Clockwise Credit Union
Clockwise Credit Union serves members across Leicester, Leicestershire, Rutland, Nottingham, Nottinghamshire, Coventry, and Warwickshire. We are committed to helping people take control of their finances through ethical, community-focused services.
