Originally, the credit union was established to serve the financial needs of Florence Public Schools, District 1. Later the credit union became federally chartered and continued to add groups to its field of membership, including District 4, Merita Bakery, two local colleges, several private schools and other select employee groups. The credit union was granted a community charter in December 2002. Anyone who lives, works, worships, or attends school in Florence County is eligible to join PDFCU.
First located in an office at Poynor Junior High School, the credit union then moved to the Investors Bank Building in 1985. In July, 1987, the credit union moved to its present location in downtown Florence at 305 West Pine Street. Pee Dee Federal Credit Union presently has assets in excess of $30 million and serves over 6,000 members.