Clockwise Credit Union secures new premises - June 2008

Social Enterprise

Ethical Savings Gain Security with Business Champion

As concern over the impending financial crunch grows in the UK, an elite taskforce of East Midlands business volunteers are joining forces with credit unions to increase awareness of cooperative financial institutions and helping launch new branches in Leicestershire.

The Clockwise Credit Union, an ethical savings and loans organisation is opening a town centre branch in Melton Mowbray to gain a greater county presence.

The voluntary organisation which provides safe and ethical savings for vulnerable people likely to be targeted by doorstep loan sharks has approached East Midlands Business Champions, a programme created and funded by the East Midlands Development Agency (emda) to help with their expansion and raise the profile of the charity and its work in the region.

Working with voluntary and educational organisations Business Champions support projects where a commercial perspective is needed.

Business Champion Richard Kilburn, managing director of Uppingham-based Cumulo Accountancy and Finance joined The Clockwise Credit Union’s board to lead a steering committee of six local bodies to achieve the introduction of new premises. His goal is to establish a clear plan for the future growth and development of The Clockwise Credit Union in Melton Mowbray, gain funding and identify and negotiate suitable accommodation for the new branch.

He said: “It is early days yet, but we are well on the way to establishing a greater presence for The Clockwise Credit Union in Melton that will provide more people with the opportunity to take advantage of ethical savings and stop them from becoming susceptible to doorstep lenders. In my capacity as a Business Champion I can give something back by helping ensure the success of a venture that will benefit the whole community.”

Joanna Burrows, Voluntary Action Melton senior officer for community development, who set up the steering committee said: “The Clockwise Credit Union needed someone with specific skills to help with their expansion. Richard’s experience in helping young businesses to become established, coupled with his logical determination will provide the perfect mix to get this venture off the ground.”

For further information on the Clockwork Credit Union call 0116 2471740