Two-way clutch assembly having selective actuation

A two-way clutch assembly (10) having an inner race (14), an outer race (20), and an engagement mechanism (22) disposed therebetween and operable to shift between a first position providing torque translation between the inner and outer races (14, 20) in one rotational direction while allowing relative freewheeling rotation between the inner and outer races (14, 20) in an opposite rotational direction. Furthermore, the engagement mechanism (22) is operable to shift to a second position that provides torque translation and relative freewheeling rotation between the inner and outer races (14, 20) in rotational directions opposite to that provided by the engagement mechanism when disposed in the first position. An actuator assembly (24) is operatively connected to the engagement mechanism (22) and acts to simultaneously move in an axial direction and rotate about the axis of rotation (A) in an indexing manner to shift the engagement mechanism (22) between the first and second positions.