Clockwise celebrates 25 years
16 May 17
Clockwise Credit Union has celebrated its 25th anniversary at its newly refurbished branch.
The credit union, which serves anyone who lives or works in the city of Leicester, Leicestershire or Rutland, was founded in 1992 as Highfields Community Credit Union as an anti-poverty initiative of local churches based at Sacred Heart Roman Catholic Church.
The credit union’s founder Fr John Lally was among the guests at the special reception on 12 May which combined a celebration of Clockwise Credit Union’s contribution to the local community over the last quarter of a century with the official opening of its refurbished head office branch in the centre of Leicester.
The Mayor of Leicester Peter Soulsby joined the Mayor of Hinckley & Bosworth Councillor Richard Allen and Fr John for the official ribbon cutting ceremony (pictured). ABCUL Chief Executive Mark Lyonette was among the speakers at the reception.
Guests heard that over its 25 years, Clockwise Credit Union has grown to serve almost 10,000 local residents from all walks of life, who have over £3.3 million saved in the credit union and are borrowing just over £3 million at more affordable rates than would be on offer from most other lenders. In addition to its city centre branch, Clockwise runs community access points in Loughborough, Syston, Melton Mowbray, Coalville, Hinckley, Wykin and Earl Shilton.
Clockwise Credit Union Chair Paul Mattioli said: “Since the beginning, we have loaned out £28 million to members of our community, many of whom would have otherwise turned to high cost lenders; being unable to access mainstream finance.
“We are naturally very proud of the service we have been able to – and continue to – provide. We also offer savings, budget and rent accounts to support people in managing their finances better.
“We have grown through the hard work and dedication of a large number of volunteers, directors, staff and local champions. We are profoundly grateful for their efforts.”