Prince Bishops Credit Union was created when East Derwentside Credit Union in Stanley successfully merged with West Derwentside Credit Union in Consett in 2009. It is supported by Derwentside Homes, Derwentside Council for Voluntary Services, County
Durham NHS, the County Durham Foundation and Sherburn Hospice. The decision to rename the Prince Bishops Credit Union the Prince Bishops Community Bank was to let people know that they are a community bank that are helping the community to save money.
The thinking was that a community bank is a more user-friendly term as the word ‘credit’ can put people off, particularly in the current economic climate. Prince Bishops Community Bank / Tynedale Community Bank, is a 'not for profit' Credit
Union. They have branches in Stanley and Bishop Auckland, and information points in Hexham and Allendale. Common Bond is Live or Work in County Durham.
. During 2017 the Directors of Prince Bishops Community Bank were in discussions to examine
the potential benefits to Members of merging with of NEFirst Credit Union. After undertaking a thorough review of each organisation, they announced that they have agreed to merge in 2018.