Here are some of the bookmakers' favourites to succeed Justin Welby as the Bishop of Durham
Ten facts you didn't know about the new Archbishop of Canterbury.
An historic vote to allow women to become bishops has been put on hold after deadlock within the Church of England.
– Errol Damelin, chief executive of Wonga
The Archbishop is clearly an exceptional individual and someone who understands the power of innovation.
We discussed the future of banking and financial services, as well as our emerging digital society. There is mutual respect, some differing opinions and a meeting of minds on many big issues.
On the competition point, we always welcome fresh approaches that give people a fuller set of alternatives to solve their financial challenges. I'm all for better consumer choice.
- Credit unions are small non-profit financial organisations set up by members with something in common to benefit their community.
- That common factor may be living in the same town, working in the same industry (for example, the Police Credit Union) or belonging to a particular trade union.
- Roughly 500 credit unions cover the UK offering loans, savings and current accounts to their members. A few even offer mortgages. Almost a million Brits are members.
The Archbishop of Canterbury has told Wonga the Church of England wants to "compete" it out of existence as part of its plans to expand credit unions as an alternative to payday lenders.
The Most Rev Justin Welby, who has served on the parliamentary Banking Standards Commission, plans to:
- Expand credit unions
- Encourage church members with relevant skills to volunteer at credit unions
- Invite local lenders to use church buildings and other community locations with the help of church members
The Archbishop's remarks come after he launched a new credit union for clergy and church staff earlier this month at the General Synod in York.
The Archbishop of Canterbury says the church is to "put its money where its mouth is" and go head-to-head with payday lenders.
The Most Rev Justin Welby told Total Politics magazine the church's plan is to create “credit unions that are both engaged in their communities and are much more professional – and people have got to know about them.”
He added that it would be a "decade-long process".
The former Bishop of Durham has been confirmed in his new post, as the leader of the Anglican church worldwide.
Justin Welby becomes the one hundred and fifth Archbishop of Canterbury.
So what lessons will the new Archbishop take with him from the North East to his new role?
Helen Ford has been speaking to those who've worked with him.
You can watch her full report below.
The Right Reverend Bishop of Durham Justin Welby will be enthroned on March 21st.
The Bishop of Jarrow, the Rt. Reverend Mark Bryant, has been speaking about the appointment of the new Archbishop of Canterbury - the Rt. Reverend Justin Welby.
The Bishop of Jarrow believes that people in the region are fortunate that a man who knows the reality of difficult lives, and about life in the North East, has taken office as the next Archbishop of Canterbury.
The new Archbishop of Canterbury has formally taken office at a ceremony in St Paul's Cathedral.
Justin Welby, the former Bishop of Durham, has been confirmed as the 105th Archbishop of Canterbury at a service attended by the Archbishop of York, Dr John Sentamu, and other senior bishops.
The ceremony forms part of the legal process for appointing a new Archbishop of Canterbury and will be followed by Bishop Welby's enthronement at Canterbury Cathedral next month.
The 57-year-old former oil executive succeeds Dr Rowan Williams, who left after a decade in the job in December.
In a farewell service held last month at Durham Cathedral, Bishop Welby, a former oil executive, spoke of the excitement and apprehension he felt about taking up his new role as head of the Church of England and spiritual leader of the Anglican Communion.
– Archbishop Justin Welby
"I'm feeling apprehensive, thoughtful and excited as I anticipate it. I'm extremely conscious of what it means to be asked to do the job.
There's a huge number of challenges, I've got to find my way into the role which personally is a huge challenge."
The new Archbishop of Canterbury will take up his new job in a ceremony at St Paul's Cathedral.
Justin Welby, will be installed into the position in March.
He became Bishop of Durham in late 2011, and led his last service at Durham Cathedral last week. He told ITV News Tyne Tees he would be sad to leave the North East.