Video report by Helen Carnell
When commercial management failed to keep Ye Olde Crosse in Ryton open, the locals bought their community hub.
Shareholders Colin, Liz and David dug deep so that could buy their local pub.
The 350 shareholders have many ideas about how to use the pub - from hosting weddings, christenings, cinema club, and a yoga group.
The Government has set up a £150 million 'Community Ownership Fund' to help local communities save their struggling pubs, sports clubs, theatres and Post Offices.
A similar group wanting to buy their pub in Stockton have welcomed the government's support, and have already pledged £200,000 between them.