Piedmont Credit Union, the first African American credit union in the United States, to be Featured on N.C. Highway Historical Marker

A financial institution launched by African American farmers soon will be recognized with a North Carolina Highway Historical Marker. The N.C. Historical Marker Program is part of the N.C. Department of Natural and Cultural Resources.

The marker commemorating the Piedmont Credit Union will be dedicated on Friday, April 17 at 1 p.m., at the intersection of Mount Moriah Church Rd., and Flat Rock Rd., in China Grove, N.C.

On April 19, 1918, Thomas B. Patterson and 22 Black farmers in Landis, N.C., founded the Piedmont Credit Union, the first African American credit union in the United States.

For African American farmers in the early 20th century, access to fair and reliable credit was extremely limited. Traditional banks either refused to issue loans or imposed discriminatory conditions that placed Black borrowers at perpetual risk. A single season of poor weather or crop failure could threaten the loss of a farm, leaving families with little recourse. Without the ability to plan or invest for the future, many farmers remained trapped in cycles of instability.

Long before credit unions existed, African American communities relied primarily on cooperative financial practices like pooling money to support one another during crises, illnesses, or opportunities. These traditions, rooted in mutual aid and collective survival, often stretched back to the era before Emancipation. But without a formal institution to manage savings and loans, these efforts could only go so far. The creation of Piedmont Credit Union transformed these cooperative principles into an organized structure that supported long-term financial planning and community prosperity.

Piedmont Credit Union quickly proved the power of collective economic action. By offering reasonable loan rates and fair treatment, the institution enabled farmers to keep their land, invest in their operations, and save money without fear of predatory lending. The credit union's success inspired rapid growth across the state; within just two years, a dozen more African American credit unions had formed in North Carolina, each one strengthening local economies and demonstrating the effectiveness of community-based financial systems.

For more information about the historical marker, please visit the Piedmont Credit Union blog post, or call (919) 814-6625.

The Highway Historical Marker Program is a collaboration between the N.C. departments of Natural and Cultural Resources and Transportation.

About the North Carolina Department of Natural and Cultural ResourcesThe N.C. Department of Natural and Cultural Resources (DNCR) manages, promotes, and enhances the things that people love about North Carolina - its diverse arts and culture, rich history, and spectacular natural areas. At more than 100 sites across the state, the department enhances education, stimulates economic development, improves public health, expands accessibility, and strengthens community resiliency. For more information, please visit https://www.dncr.nc.gov.

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