1942

There were 136 African-American credit unions in the U.S. of which 86 were in the south.

Of the 86 southern credit unions, 33 of those were in North Carolina. The earliest African American Credit Unions which operated under community charters were the Wayne County FCU in Jessup, Georgia and The Light of Tyrrell Credit Union in Tyrrell County, NC.

There were 36 “education based” African-American credit unions in the U.S.The total assets estimated in African American credit unions totaled $500,000.00 and the average loss ratio was estimated to be .075% or 7.5 cents of each $100.00 loaned.

Records showed a total of 13 African-American church credit unions.

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