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On the 4th of October 2021 New Central Credit Union becomes part of Clockwise Credit Union.

Key member information

New Central

New Central will close at 1PM on Friday 1st October and reopen as Clockwise Credit Union on Monday the 4th of October 2021.

Your Accounts

All of your existing saving and loan accounts will be transferred automatically to Clockwise Credit Union.

New Member Number

Most membership numbers will change. We are writing to all members starting from the 13th of September to confirm new membership numbers.

Need a loan in September?

The last day for new application at New Central is the 17th September 2021. After which no new applications will be accepted until the 4th of October.

Online Banking

New Central’s existing online banking will end at 1PM on the 1st October. From the 4th October all members will be able to use Clockwise online banking or mobile app. Look out for your invitation letter in the post.

Find out more

Please check our questions and answers section below.

All Clockwise savings and deposits are covered by the Financial Services Compensation Scheme. Click here to find out more information.

The interest rate and terms of any outstanding New Central Credit Union loans will remain unchanged for the duration of the loan.

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.

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.

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.

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.

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.

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.

No, all payments which currently go to your New Central account will be received in to your Clockwise account.

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.

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.

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.  

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.

Currently, Clockwise has a Maximum saving limit of £65k per member 

No, we pay annual interest currently 0.5%.

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