PAYROLL MEMBERSHIP - Clockwise Credit Union credit union

Unlock Financial Wellness, Straight From Your Salary

The smarter way to save and borrow, exclusively for employees of our partner companies.

If your employeer uses Clockwise for a Savings Scheme, then it's an easy way to save regularly (or borrow money), 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.

Join Clockwise

It's as Easy as 1, 2, 3

Check Your Employer

If your employer is one of our partners, you're eligible to join and access exclusive benefits.

Choose to Save or Borrow

Decide how much you want to save each month or apply for a loan at our preferential rates.

It's All Automatic

Your chosen amount comes directly from your salary. No hassle, no missed payments.

Trusted by Employees Across the Region

I have been a member for years and have always saved a little each month, that way I don’t even ‘see’ the money but know it is saved. Then near Christmas I withdraw most of it and use it to buy presents, it saves the worry over how I will afford them each year. I love supporting a local credit union and I refer residents there too, for loans, current accounts and savings!

Rebecca

Payroll Member

Clockwise have really helped me with my finances. I have been a member for a while now and think they are great. I use the app to keep track of my accounts and its very easy to use. I would recommend to anyone.

Gemma

Clockwise Member

The payroll deduction scheme was easy to set up and I’ve been able to change the amount saved each month with a single email to the Finance Team. Clockwise also has an app for easy access to my savings account that allows the instant transfer of money from my savings account to my current account as and when I have needed it.

Ian

Payroll Member

Plan Your Future

Let's see how quickly you can reach your savings goal!

What are you saving for? How much do you need to save? (£) How much can you save per month? (£)

🏖️

Your Holiday Fund

You'll reach your goal in:

14 months

Keep going, you're on your way!

Start Saving Today

Clockwise Savings Accounts

	Instant Access	Cash ISA	Gold Saver	JISA	Current Account	Prize Saver
Overview	Easy access to your money	Tax free interest	90 Day Notice Account	Savings for a child	Everyday Spending	Win up to £5000
Often Used For	General Savings	Long Term Savings	Saving medium term for a specific goal	Putting money away for a child's future	Day to day spending, cash withdrawals, direct debits	Under £200 of savings
AER	0.8%	4.5%	3.03%	4.5%	0%	0.8%
Access	Instant Access to your money	Instant Access to your money	90 Day Notice to Access Money	Child can access when they are over 18	Instant Access to your money	Instant Access to your money
Interest Paid	Yearly	Yearly	Quarterly	Yearly	N/A	Yearly
Yearly Limit	No limit*	£20,000*	No limit*	£9000*	No limit*	£200
Who Can Apply?	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over - for a child under 18	Clockwise Members Aged 18 or over	Clockwise Members Aged 18 or over
More Info & Apply

Discounted loan rates exclusively for members who are working for one of our Employer Partners.

Simple repayment – directly from your salary.
No application fee or set up charge.
The interest you pay stays in our local economy.

Personal Loan for Payroll

Interest Rate

From £50 to £1,499 = 42.6% APR
From £1,500 to £2,999 = 26.8% APR
From £3,000 to £7,500 = 16.1% APR

Things you should know

You must be an employee of one of our Employer Partners.
You need to be up to date on any current or previous borrowing with Clockwise Credit Union.
No adverse credit (for example CCJs or payment defaults) in the last 12 months.
You must have the disposable income to meet the loan repayment.
Maximum loan term is 60 months.

Personal Plus Loan for Payroll

Interest Rate

From £3,000 to £9,999 = 8.7% APR
From £10,000 to £15,000 = 5.7% APR

Things you should know

You must be an employee of one of our Employer Partners.
You must be a homeowner for at least 3 years.
Employed for at least 3 years.
Have no adverse credit (for example CCJs or payment defaults) in the last 36 months.
Be up to date on any current or previous borrowing with Clockwise Credit Union.
Have the disposable income to meet the loan repayment.

All loans are subject to status and approval. Terms and conditions apply. If you do not meet the criteria for our Employer Payroll Partner Loan rates, or if you are unwilling to accept any special conditions that apply, then we may offer you a loan at our standard Personal Loan rates.

Benefits include:

How to apply for payroll membership

Clockwise membership is free. If your employer is an existing partner (see list below).

Apply for Clockwise Membership and complete your details,
Add a payroll deduction to your application when prompted.
We will contact your employer to make the necessary arrangements with Clockwise so that payments are taken via payroll deduction

If your employer is not an existing partner please point them to the employers page.

How to change or cancel your payroll savings / loan deduction

Contact Clockwise directly to make any changes to your payroll deduction. We will arrange the new amount with your employer’s HR.

Just like your high street banks and building societies, the money you deposit into your credit union account, up to £85,000, is protected under the Financial Services Compensation Scheme (FSCS). If you have a joint account you will be protected for £85,000 each.

FSCS protection is free to customers, so if anything happens to your bank, building society or credit union, and you cannot access your money, the FSCS will refund you up to the amount of £85,000.

Existing Partnerships

It's as Easy as 1, 2, 3

Check Your Employer

Choose to Save or Borrow

It's All Automatic

Trusted by Employees Across the Region

Plan Your Future

Your Holiday Fund

Check Your Loan Repayments

Clockwise Savings Accounts

Discounted loan rates exclusively for members who are working for one of our Employer Partners.

Personal Loan for Payroll

Interest Rate

Personal Plus Loan for Payroll

Interest Rate

Things you should know

Benefits include:

How to change or cancel your payroll savings / loan deduction

More Information