On the 4th of October 2021 New Central Credit Union becomes part of Clockwise Credit Union.
Is my money safe?
All Clockwise savings and deposits are covered by the Financial Services Compensation Scheme. Click here to find out more information.
Will the interest rate or terms of my loan change?
The interest rate and terms of any outstanding New Central Credit Union loans will remain unchanged for the duration of the loan.
Will my Engage Debit card continue to work as normal?
Yes, Clockwise is also a provider of the Engage card and your Engage account will continue as normal. Any existing transfer instructions will continue to transfer to your Engage card.
How will online banking change?
Online banking will move to the Clockwise website and mobile app. The existing New Central online banking will shut down at 1PM on Friday 1st October and members will be able to start using the Clockwise service from Monday 4th October.
You will need to register to access the Clockwise service. To make this as easy as possible we are sending a registration code and instructions on how to register to all members. Look out for your unique registration code in the post.
Will the office in Smithford Way remain open?
Yes, the Smithford office will remain open with the existing staff. Opening hours for our branches in Leicester and Coventry are open Monday, Wednesday and Friday from 10am until 2pm.
Will the name New Central Credit Union still exist?
The New Central Credit Union will cease to exist from 1st October 2021. The New Central web site will redirect you to the Clockwise web site.
How will my account details change?
Following the merger, all members will receive a new sort code and account number. Using your new details, you can pay money into your account by faster payment 24 hours a day with the money showing in your account straight away.
Payments made using the old New Central bank account will continue to be received as normal for the foreseeable future.
Will my membership number change?
Most New Central members will receive a new membership number. You will receive a letter in the post with your new number. It is important that you use your new number when contacting Clockwise following the merger.
Will my regular payments like Child Benefit or Universal Credit be affected?
No, all payments which currently go to your New Central account will be received in to your Clockwise account.
Is the phone number changing?
Yes, we have a new phone number for members to use from the 4th of October – 03301755792
The old phone number will also continue to work for a period of time.
Is the email address changing?
Yes, from the 4th of October if you need to contact us via email, please use hello@clockwise.coop.
The old New Central email address will also continue for a period of time.
Will I still be able to get top-up loans?
With Clockwise you will have the opportunity to apply for a top-up loan up to every four months. All loans are considered on a loan criteria, as agreed by the Directors, and affordability checks.
How do I transfer my standing order(s) to my new Clockwise account?
You will need to contact your bank to give them the new account number and sort code, there is no need for a reference number on the amended standing order. Other than benefit payments, if you get payments from anyone else you will need to contact them and ask them to make the change.
Payments made to the old New Central account details will continue for a period of time
Will there be a limit to how much I can save?
Currently, Clockwise has a Maximum saving limit of £65k per member
Do Clockwise pay Dividend on savings?
No, we pay annual interest currently 0.5%.
