The mission of the Society was to preserve Mebane's history, the most immediate goal was caring for the memorabilia collection of Milton McDade (1911-1991). His photographs, reproductions of local buildings, and other items had been given to the City of Mebane with the understanding that a museum would be created to document the city's history. A committee had been appointed to care for the collection, but it was housed in a series of temporary locations out of necessity.

Subsequently, the McDade collection was entrusted to the Mebane Historical Society, and in return the City of Mebane agreed to provide an appropriate facility for the Museum. After years of negotiation and planning, the Museum now has a permanent home in quarters which once served as the home economics wing of the old Mebane High School. The newly-renovated facility includes space for exhibits and collections, storage, and community events.

The Mebane Historical Society celebrated the opening of the new incarnation of the Mebane Historical Museum on Saturday, January 23, 2010 with approximately 1,000 members and guests in attendance.