Clockwise Credit Union is a financial cooperative owned and controlled by its members. Much like a High Street bank, Credit Unions can provide savings, loans and a range of services to their members. Unlike a bank, Credit Unions do not have to answer to shareholders or investors. So the emphasis is always on providing the best service to members – not maximising profits.
Payroll membership is a hassle free means of regular saving and borrowing, with payments being deducted directly from your salary. The money is transferred directly into your Clockwise savings account or repaid to your loan account and because the money is taken directly from payroll it is a much easier way to save and borrow. This is a confidential service and your payroll department is not provided any details of loans you take out.