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

Why choose Payroll Membership?

Effortless Savings

Money is moved before you can spend it. It’s the “set and forget” way to build a rainy-day fund.

Lower Loan Rates

Access exclusive lower interest rates on loans just for being a payroll member.

Safe & Secure

Just like high street banks and building societies, the money you hold with Clockwise is protected by the Financial Services Compensation Scheme (FSCS)

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%	3.8%	3.03%	3.8%	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 for Employer Partner employees

Exclusive rates for members who work 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 rates

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

APR disclosure: Annual Percentage Rate (APR) refers to the annual interest generated by a sum that is then charged to borrowers. APR is expressed as a percentage that represents the annual cost of borrowing over the term of the loan. This figure includes any fees or additional costs associated with the loan. The APR provides consumers with one bottom-line number they can compare with other loan offers, credit cards, or investment products.

Maximum APR is 42.6%
Minimum repayment period is 90 days
Maximum repayment period is 60 months

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 rates

Loan amount	APR
£3,000 to £9,999	8.7%
£10,000 to £15,000	5.7%

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.

Benefits include:

How to apply for payroll membership

Clockwise membership is free. If your employer is an existing partner (see list below), you can apply in a few steps:

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 so that payments are taken via payroll deduction.

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

Apply now

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 high street banks and building societies, the money you hold with Clockwise is protected by the Financial Services Compensation Scheme (FSCS), up to £120,000 per person.

Clockwise’s maximum deposit limit is £85,000, so all eligible savings you can hold with us are fully covered. For joint accounts, each person is protected up to Clockwise’s maximum deposit limit.

FSCS protection is automatic and free. If your bank, building society or credit union were ever unable to return your money, the FSCS would refund you up to the £120,000 limit.

Existing Partnerships