Bishop Auckland Branch: 07495 336 124 Open Monday to Friday
The Directors of NEFirst Credit Union and Prince Bishops Community Bank have been in discussions for the past few months, to examine the potential benefits to Members of merging both Credit Unions together. After undertaking a thorough review of each organisation, they would like to announce that they have agreed to merge. This decision has also been approved by the membership of Prince Bishops Community Bank. The merger will become effective from 1 April 2018.
This merger will consolidate and strengthen the Credit Union movement in the North East as a whole, and especially in County Durham. The directors are working hard to ensure a smooth transition; there is nothing for member to do as a consequence of this announcement, it’s business as usual. Members should continue to access all services in the usual way. Existing members’ savings and loans will not be affected by the merger in any way.
The merger will result in a larger Credit Union called NEFirst Credit Union, it will have over 16,000 members, shares of more than £4.5M and a loan book in excess of £3.5M. It will operate throughout the North East and provide a range of products for savers and borrowers.