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African American Contributions Within the Credit Union Movement

​​During Black History Month, it's a perfect time to learn about some of the truly inspiring people and events that happened in the credit union community.  

Did You Know?

  • In 1918, Thomas B. Patterson established the Piedmont Credit Union of Landis, in North Carolina, the first African American Credit Union. The credit union gave lending opportunities to local farmers and created educational opportunities to improve the financial well-being of the communities it supported.
  • Sati Smith breaks barriers, being named the first Black woman CEO to lead Diversified Members Credit Union (DMCU), based in Detroit, MI.
  • During the Civil Rights Movement, Black credit unions emerged as crucial financial institutions, providing support and resources for African American communities facing economic challenges.
  • The African American Credit Union Coalition (AACUC), established in 1999, has played a vital role in advocating for diversity and inclusion within the credit union industry, fostering leadership opportunities for Black professionals and allies.
  • In 2019, the 8th Cooperative Principle – focused on diversity, equity, and inclusion – was envisioned and adopted by the U.S. credit union movement and the Credit Union National Association.  ​

As we celebrate Black History Month, let's continue to promote financial inclusion and education for all!