By CUEvangelist – published originally at CUInsight.com – February 27, 2026

The credit union philosophy of “People Helping People” can sound like a nice cliché when we just say it out loud. But for many African Americans, especially in earlier generations, “people helping people” wasn’t just “nice;” it was necessary.  That’s where the credit union story connects directly to Black History Month, because Black history is a part of credit union history.

For a long time in America, Black families were often denied access to basic financial services. That’s not a secret. In many places, banks did not welcome Black customers. And when they did, lending was not equitable. In some cases, loans were simply denied. So Black communities did what strong communities often do when the door is closed: they built their own on-ramps to dignity through mutual aid groups, community savings clubs, and yes, credit unions.

The credit union model was an ideal choice to address the financial needs of Black Americans. As financial cooperatives, credit unions are owned by the people who bank there as members. That mattered because it made credit unions a natural fit for communities that have had to rely on cooperation, trust, and shared responsibility to survive and grow. The credit union movement also gave members a rare opportunity to take part in the governance of their financial institution.

The credit union movement didn’t just include Black leadership, but it also facilitated Black leadership to advance it. One of the most cited early milestones is Piedmont Credit Union of Landis, North Carolina, which pre-dated the Federal Credit Union Act of 1934. Organized in April 1918 by Thomas B. Patterson and others, the institution is often cited as the first African American credit union effort. Its members were predominantly farmers. Piedmont provided relief from predatory lending connected to the crop-lien system, which often took a farmer’s next crop earnings as collateral for loans made at unfair, high interest rates.

Early Black-led credit unions like Piedmont showed that the cooperative model could protect people from harmful lending terms and give families a fair chance. These early credit unions provided affordable loans, a safe place to save, community ownership, and a path toward financial progress. Sort of what credit unions still do today, protecting families from predatory payday and title lenders. That’s the heart of the credit union difference.

The legacy continues today. Many credit unions still carry this mission forward in real, practical ways. Some of these institutions are known as Minority Depository Institutions (MDIs). In simple language, MDI credit unions focus heavily on serving communities that have historically been underserved, often including Black communities.

The National Credit Union Administration (NCUA) defines an MDI as a “federally insured credit union in which a majority of its current members, its board of directors, and the community it services, as designated in its charter, fall within any of the eligible minority groups…” This includes “Black Americans,” as described in Section 308 of the Financial Institutions Reform, Recovery and Enforcement Act of 1989.

A present-day example of what “People Helping People” looks like through the lens of Black History but in modern form is HOPE Credit Union. HOPE is a mission-driven financial institution serving under-resourced communities in the Deep South. HOPE’s CEO, Bill Bynum, has described its work as strengthening financial health and inclusion in places often treated as “opportunity deserts.” Over the decades, HOPE has served millions of people across multiple states. This is the credit union prototype doing what it does best: meeting people where they are, building trust, and creating real financial pathways for families who have been overlooked.

Black History Month is not only about looking back. It’s also about deciding what kind of future we want to build, especially for people and families of modest means. Here are a few questions I believe every credit union leader, including board members and C-suite professionals should ask:

• Are we serving members inclusively and equitably?
• Are we creating access or creating barriers?
• Are we building trust or just selling products?
• Are we staying human as we adopt more technology?

Because the credit union philosophy of “People Helping People” can’t be automated with AI.

Black History Month is a chance to celebrate pioneers, leaders, and communities that used cooperation to overcome exclusion. It’s also a reminder that credit unions were created for moments when people needed fair access, shared ownership, and unqualified service.

So let’s say it plainly: Black history is credit union history. Not as a side note, not as a special topic, but as part of the movement’s bedrock. And if we honor this history the right way, we won’t just post about it once a month, but we’ll live it in how we serve, lead, and build trust every day.

Mark S. Brantley, Esq. is currently known as the CUEvangelist – “Spreading the Good News About CUs!” Mark is also an Asst. Director of Operations at Arizona State University and was the former vice-chairman of the AACUC, former board member of America’s Credit Unions (formerly CUNA), and former Chairman of the Municipal Credit Union. He has written numerous articles and white papers on credit union advocacy, legislative, and regulatory matters. Mark is also the author of the book “Believe Like A Christian, Think Like A Hebrew” and is the Pastor of the Greater Refuge Temple – Arizona.