Decision details

The Scrutiny Commission received an update on Clockwise Credit Union, including the new information points in Barwell and Wykin and the branch set up at Earl Shilton Community House. It was reported that there was also now a local access point at Next Generation in Hinckley.

Councillor Hulbert left the meeting at 8.27pm.

Members were pleased that the number of customers of the Credit Union was continuing to grow, but concern was expressed that many of the most vulnerable people were not aware of the Credit Union, or still found it easier to access loan sharks. Information was requested on the percentage of loans that were approved. It was reported that Clockwise in Leicester had launched an automatic lending decision in order to respond to market pressure and make the process quicker to be able to compete with less reputable loan providers.

Members were concerned that not enough people knew about the Credit Union and that the provision should be better publicised. It was agreed that the Communication Strategy be brought to the next meeting of the Scrutiny Commission along with options for identifying financial support for publicity of the Clockwise services for the Borough.

RESOLVED –

(i)         the report be noted and the continuation of the current delivery model be endorsed;

(ii)        a Communications Strategy be brought to the next meeting;

(iii)       officers be RECOMMENDED to identify resources to support the Communications Strategy and that these be brought back to the next meeting.