North Carolina Mutual Life Insurance Company holds a significant place in Black history as the oldest and largest African American-owned life insurance company in the United States. Founded in 1898 by John Merrick, Dr. Aaron Moore, and Charles Spaulding in Durham, North Carolina, the company provided financial services to Black communities at a time when they were often denied access to traditional banking and insurance services.

North Carolina Mutual played a crucial role in empowering African Americans economically and socially during the Jim Crow era and beyond. The company not only provided life insurance to Black individuals and families but also offered employment opportunities for Black professionals and supported community development initiatives.

Under the leadership of Charles Spaulding, who became president of the company in 1923, North Carolina Mutual expanded its services and grew into a successful business enterprise. Spaulding was a prominent figure in the Black business community and advocated for civil rights and economic empowerment for African Americans.

North Carolina Mutual's legacy extends beyond its role as an insurance provider; it also contributed to the development of Black entrepreneurship and economic self-sufficiency. The company's success paved the way for other Black-owned businesses and institutions and remains a testament to the resilience and determination of African Americans in the face of systemic racism and discrimination.