Farmers' Bank of Rustico - South Rustico, PEI
Posted by: Groundspeak Premium Member T0SHEA
N 46° 25.397 W 063° 17.003
20T E 478224 N 5141117
Situated in one of the oldest communities on Prince Edward Island, the Farmers' Bank was the forerunner of Credit Unions in Canada.
Waymark Code: WMP3Z6
Location: Prince Edward Island, Canada
Date Posted: 06/26/2015
Published By:Groundspeak Regular Member MikeGolfJ3
Views: 5
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Of wood frame construction, faced with sandstone, this bank heralded the credit union movement in Canada, providing the blueprint and the impetus for the movement. It was constructed beside St. Augustine Church from 1861 to 1863 by St. Augustine parish priest Georges Antoine Belcourt and directed by farmers and fishermen.

Designated a National Historic Site of Canada on May 25, 1959, the bank was also recognized as a Provincial Heritage Place on May 10, 2011. Now a museum, the former bank houses an exhibit of the Rustico Acadians.

Below is a description of the bank, from the website of The Museum, while further below is the Statement of Significance from Historic Places Canada, preceded by text from the plaque at the site.

The Farmers' Bank of Rustico is a building of national importance, an important monument of P.E.I. architecture as well as a symbol of Acadian survival. The Bank operated from 1864 to 1894 and was an important link in the establishment of "Les Caisses populaires" in Quebec and "Credit Unions" in the rest of Canada.

The building is a legacy of an extraordinary person, Reverend Georges-Antoine Belcourt, parish priest of Rustico from 1859 to 1869. On arriving in Rustico, he noted the lack of education and the extreme economic hardships of the inhabitants. He organized the "Catholic Institute" with over 250 members. Meetings and study clubs resulted in the establishment of the Bank which provided loans to farmers at reasonable rates of interest. The Bank operated for thirty years but was forced to close its doors as a result of the passage of the Bank Act in 1871.

Father Belcourt and his parishioners constructed a building sixty by forty feet in dimensions. The building was of frame construction covered on all sides with sandstone. It was a very imposing structure and built to denote the strength and solidity deserving of a bank. It served as a Parish Hall for many years and is now used as a Museum to commemorate the work accomplished by Father Belcourt during his stay in Rustico.
Farmers' Bank of Rustico
THE CNHS PLAQUE

Under the leadership of Rev. G.A. Belcourt, a former pioneer missionary in the West, his parishioners erected this building to house one of the first people's banks in Canada. Chartered in 1864, and directed by farmers and fishermen, it continued to operate until 1894 and foreshadowed the development of the credit union movement. The bank, by providing cheap credit, enabled the people of this predominantly Acadian community to gain economic independence.

DESCRIPTION OF HISTORIC PLACE
Located in the small hamlet of Rustico on Prince Edward Island, the Farmers’ Bank of South Rustico National Historic Site of Canada is a modestly sized, ruggedly simple, stone building in the British classical tradition. Seven bays wide, with two-and-a-half storeys, the bank stands adjacent to a church and alongside a road to the water’s edge. The building is now operated as a museum. Official recognition refers to the interior and exterior of the building.

HERITAGE VALUE
The Farmers’ Bank of Rustico was designated a national historic site of Canada in 1959 because, under the leadership of the parish priest Georges Antoine Belcourt, this building was erected to house one of the first people’s banks in Canada.

The Farmers’ Bank of Rustico illustrates an important stage in the evolution of co-operative banking in the 19th century in Canada. Father G. A. Belcourt led the parishioners who constructed the bank building between 1861 and 1863. Chartered in 1864, and directed by farmers and fishermen, it operated until 1894, and heralded the development of the credit union movement. The bank provided cheap credit and small loans allowing members of this predominantly Acadian farming community to purchase lands, make improvements, and gain economic independence.

CHARACTER-DEFINING ELEMENTS
The key elements that contribute to the heritage character of this site include:
- the building’s location amongst a cluster of buildings near the church of St. Augustine;
- the rural setting surrounded by agricultural land;
- the regularly coursed sandstone construction;
- the solid, two-and-a-half-storey massing under a medium-pitch gable roof;
- the seven-bay façade with central entrance, and regularly placed windows;
- the multi-pane, sash windows;
- the square vault projecting from the west wall;
- the overall unadorned appearance, with minimal exterior details that include stringcourses, eaves set close to the walls, and windows without mouldings;
- surviving evidence of its original interior functional design and interior features, notably its wooden posts and small fireplaces.
From Historic Places Canada
Theme:
History of the Acadians of the Rustico Area

Street Address:
2190 Church Road, route 243 North South Rustico Prince Edward Island Canada C0A 1X0

Food Court: no

Gift Shop: no

Hours of Operation:
Monday to Saturday 9:30 am - 5:30 pm Sunday 11:00 am - 5:00 pm Open June 1 through September 30

Cost: 6.00 (listed in local currency)

Museum Size: Small

Relevant Web Site: [Web Link]
Visit Instructions:
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Trail Blaisers visited Farmers' Bank of Rustico - South Rustico, PEI 08/19/2018 Trail Blaisers visited it
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