ROWAN COUNTY, NC (April 22, 2026) |
North Carolina state officials, credit union leaders, and community partners gathered in Rowan County on Friday, April 17, to unveil a new North Carolina Highway Historical Marker honoring Piedmont Credit Union of Landis, the first African American credit union established in the United States.
Founded in 1918 by local farmer Thomas B. Patterson and 22 fellow community members, Piedmont Credit Union was created to provide fair, affordable access to credit for Black farmers during the height of Jim Crow–era economic exclusion. At a time when the crop‑lien system and discriminatory lending practices routinely charged interest rates as high as 60 percent, Piedmont offered loans at a fixed six percent – a cooperative lifeline that helped families preserve land ownership and build economic stability.
“The story of Piedmont Credit Union is the story of the credit union movement at its most powerful – ordinary people coming together to create economic opportunity where none existed,” said Dan Schline, president and CEO of the Carolinas Credit Union League. “Over a century later, that spirit of people helping people remains the foundation of every credit union in the Carolinas and across this country.”
U.S. Sen. Thom Tillis also recognized the institution’s enduring significance and its place in North Carolina history. “The dedication of the Piedmont Credit Union historical marker is a fitting tribute to Thomas B. Patterson and the founders who had the vision to build an engine of economic opportunity in Rowan County,” Tillis said. “Their legacy is a testament to the North Carolina spirit of innovation and community, and I am proud to honor their courage and lasting impact on our state’s history.”
Community roots and cooperative partnerships
The dedication program was hosted at Sandy Ridge A.M.E. Zion Church in China Grove, a congregation with deep ties to Piedmont Credit Union’s founding. The church’s elder at the time, Dr. James Aggrey, was a respected community leader who played a key role in helping Patterson establish trust within the community and build the coalition that ultimately formed the credit union.
Church leaders opened their fellowship hall for the event, providing hospitality and sharing local history with more than 80 attendees.
Speakers during the program included representatives from the Carolinas Credit Union League, the Carolinas Credit Union Foundation, the African American Credit Union Coalition (AACUC), leaders of Sandy Ridge A.M.E. Zion Church, and an official from the North Carolina Highway Historical Marker Program, along with greetings from invited state and federal officials.
Priscilla Awkard, AACUC board member, presented a formal resolution honoring Piedmont Credit Union and its founders to Sandy Ridge A.M.E. Zion Church Pastor Rev. Patrick Tate, recognizing the church’s historic and ongoing role in supporting cooperative economic empowerment.
A legacy that sparked a movement
Within just two years of Piedmont Credit Union’s founding, 13 additional African American credit unions were established across North Carolina, illustrating how Patterson’s vision sparked a broader movement of cooperatives advancing financial inclusion. By the end of 1919, Piedmont had grown from 23 members to 82, with total resources exceeding $1,300 – a significant achievement for a grassroots financial institution at the time.
“The Highway Historical Marker Committee unanimously approved Piedmont Credit Union as a marker topic, recognizing its statewide significance as a community-driven effort to secure economic stability despite systemic barriers to Black financial mobility,” said Leslie Leonard, administrator of the N.C. Highway Historical Marker Program.
Broad industry support
Credit union leaders, staff, and industry collaborators attended the dedication in support of the milestone, including representatives from Coastal Credit Union, Skyla Credit Union, State Employees’ Credit Union, Carrick Professionals, the National Association of Latino Credit Unions & Professionals (NLCUP), and other credit union organizations and partners.
The marker is located at the intersection of Mount Moriah Church Road and Flat Rock Road in China Grove, near the original site of Piedmont Credit Union.
More than a century ago, Patterson described the philosophy behind the institution he helped build in simple, enduring terms. Writing in 1920, he explained that, “A thrifty, hard-working, intelligent farmer is an asset to any community, [and] the credit union aids in making him all of these. After all, it is not what a man makes that gives him standing in the community; it is what he saves that counts.”
Those words, and the cooperative vision behind them, remain at the heart of credit unions’ mission.
