Frederick Douglass elected President of Freedman Bank and Trust (1857).
The Freedman’s Saving and Trust Company, popularly known as the Freedman’s Savings Bank, was a financial organization created by the U.S. government to encourage and guide the economic development of the newly-emancipated African-American communities in the post-Civil War period. Although functioning only between 1865 and 1874, the company achieved notable successes as a leading financial institution of African-Americans. Its archives are valued as an exhaustive collection of information regarding the African American community and its socio-economic life in the immediate aftermath of emancipation.
ON THIS DAY: Frederick Douglass Elected President of Freedman Bank and Trust. was originally published on praisecleveland.com