Clockwise Current Account to improve financial inclusion for East Midlands communities
Clockwise Credit Union has partnered with Engage, the community banking-as-a-service division of Contis-Solaris, to launch our own branded credit union debit card and current account.
The new account will expand the range of banking and payment services offered to our 20,000-plus members, many of whom are excluded from, or underserved by, the traditional financial services industry.
We’re so excited by this launch, as it transforms Clockwise into a one-stop-shop for banking services for people in Coventry, Warwickshire, Leicestershire, Rutland and Northamptonshire. Our core services of savings and loans are a lifeline to many of our members, and now all our members banking services can be handled in the same place.
As well as benefitting from real-time debit card transactions and account information through the Clockwise mobile app, our members will have access to a wealth of digital banking functions. As all funds sit in Clockwise accounts, member funds are protected under the Financial Services Compensation Scheme (FSCS)
Our chief executive Teresa Manning says:
“We pride ourselves on being one of the UK’s most progressive financial co-operatives, as evidenced by the expansion of our partnership with Engage – another organisation that is committed to making the financial services sector fairer for all.
“The partnership means we can provide members with a modern, cost-effective card and account, allowing us to compete effectively with major banking brands.”
Geoff Leech, managing director at Engage, says:
“Today, the role of community-based financial co-operatives like Clockwise is more important than ever. As people across the UK have their incomes squeezed through the cost-of-living crisis, it is vital they have access to fair and responsible financial providers.
“Through partnering with Engage to launch their current account, Clockwise will become even more useful and accessible to people in its community.”
Are you interested in opening a Current Account with Clockwise? All the info is here
Engage is the community banking division of Contis-Solaris, Europe’s largest banking-as-a-service (BaaS) provider. Since 2010, we have partnered with over 150 UK credit unions to drive financial inclusion and financial opportunity for all. Engage is now the national brand for community banking. To date, over a quarter of a million debit cards and accounts have been issued exclusively to credit union members and those in communities unable to access mainstream banking services. Engage continues to provide state-of-the-art digital cloud-based banking and back-office technology to Credit Union partners, enabling them to remain sustainable and compete effectively with big banks and fintechs.