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Freedman's Savings and Trust Company

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Freedman’s Savings and Trust Company

The Freedman’s Bank, officially known as the Freedman’s Savings and Trust Company, was an important financial institution in the United States during the Reconstruction Era following the Civil War. Established in 1865, its primary purpose was to aid newly freed African Americans in their transition from slavery to freedom, particularly by providing a safe place to save money.

B P O G

Record Group 101

Deposits

Who could deposit money into the Freedman's Bank?

The bank was established primarily to serve African American individuals in the post-Civil War United States. The primary clientele of the bank were:

While the bank was primarily intended for African Americans, it did not exclusively limit its services to them. People of other races could also deposit their money, but the primary focus and majority of the clientele were African Americans, reflecting the bank’s mission to aid those impacted by the transition from slavery to freedom.

  1. Freed Slaves: The bank was specifically established to assist newly emancipated African Americans, who were transitioning from slavery to freedom. This group included men, women, and children who had been freed following the Civil War.
  2. African American Soldiers and Veterans: The bank was also a significant institution for African American soldiers who served in the Union Army during the Civil War. These soldiers, many of whom were receiving regular pay for the first time, were encouraged to save their earnings in the bank.

  3. African American Laborers and Workers: Apart from soldiers, the bank catered to African American laborers and workers in various fields. This included those who were employed in reconstruction efforts, agriculture, and other labor-intensive industries in the post-war economy.

Locating Bank Records

Ancestry.com

Each depositor gave his or her full name, place of birth, current residence, current occupation, and the names of spouses, children, parents, brothers, sisters. Depending on the state you will also see, Name of Master, Name of Mistress, Planation, height and complexion, Regiment and Company and Remarks.

 

  • Descriptive Pamphlet 

    Descriptive pamphlets are important when researching the Freedman's Bank records because they typically provide detailed indexes and explanations of the contents within a collection of historical records.

Huntsville, Alabama11-1698Nov. 18, 1865-Aug. 21, 1874
Mobile, Alabama2777-1567, 1572-2326, 4287-9173June 18, 1867-June 29, 1874

Little Rock, Arkansas3153-1358Feb. 27, 1871-July 15, 1874

Washington D. C.41-1553, 3500-7197, 7406-9315July 11, 1865-Dec 30, 1871
Washington D. C.51B-456, 14631-16303, 20001-21397May 24, 1872, July 22, 1874
Tallahassee Florida51-887Aug. 25, 1866-Jan. 15, 1872
Atlanta, Georgia61 - 4518Jan. 15, 1870-July 2, 1874
Augusta, Georgia72167 - 6701Nov. 23, 1870-June 29, 1874
Savannah, Georgia81-1137, 1298-4947Jan. 10, 1866-Dec. 17, 1870
Savannah, Georgia94948-9868Dec. 9, 1870 - Oct. 22, 1872
Savannah, Georgia109869-14558, 702-9893Oct. 22, 1872 - Sept. 1, 1874
Lexington, Kentucky11217-1976Mar. 21, 1870 - July 3, 1874
Louisville, Kentucky111-1928, 5122-7333Sept. 15, 1865 - July 8, 1874
New Orleans, Louisiana125-1018, 4365-8570June 20, 1866-June 29, 1874
Shreveport, Louisiana12149-1320Feb. 11, 1871 - June 29, 1874
Baltimore, Maryland131-4, 220-6768May 3, 1866 - June 23, 1874
Columbus, Mississippi149-927Aug. 1, 1870-June 16, 1874
Natchez, Mississippi141-707Mar. 29, 1870-June 18, 1874
Vicksburg, Mississippi14, 151157-8662July 15 1868-June 29, 1874

St. Louis, Missouri16223-336Apr. 6-Oct. 8 1869
New York, New York171422-6943Feb. 20, 1871-July 6, 1874
New Bern, North Carolina181327-4157Nov. 2, 1869-July 25, 1874
Raleigh, North Carolina189-15Apr. 9-20
Wilmington, North Carolina181208-1343Sept. 3, 1869, Oct. 30, 1869
Philadelphia, Pennsylvania191-3004Jan. 7, 1870-June 26, 1874
Beaufort, South Carolina202732 - 5989October 1866
Charleston, South Carolina211-319, 2151-3824Dec. 19, 1865-Dec 2, 1869
Charleston, South Carolina223833-6626Dec 4, 1869-Dec 2, 1871
Charleston, South Carolina236627-11103Feb. 25, 1871-July 2, 1874
Memphis, Tennessee241-1995, 2000-6298Dec. 28, 1865-July 1, 1874
Nashville, Tennessee254174-6189Dec. 23, 1871-July 23, 1874
Lynchburg, Virginia26153-215July 8, 1871-Aug. 22, 1871
Norfolk, Virginia263950-5415, 5424Dec. 4, 1871-June 29, 1874
Richmond, Virginia26232-1582July 18, 1867-June 20, 1870
Richmond, Virginia271591-3948, 4005-7691June 21, 1870-June 29, 1874

Records of the Office of the Comptroller of Currency, Record Group 101 – Federal Reserve

This collection consists of selected records of the Office of the Comptroller of the Currency that have been transferred to the National Archives and Records Administration.

The Freedman’s Bank Building

Formerly the Treasury Annex, is a historic office building at Madison Place and Pennsylvania Avenue NW in Washington, D.C. Located near the White House, it sits across from the Treasury Building. The current structure, designed by Cass Gilbert in the Beaux-Arts style and completed in 1919, is the third on this site. Initially, the site housed the Freedman’s Savings Bank, established in 1865 to serve emancipated enslaved people. The bank failed in 1874, causing significant financial loss for over 60,000 African Americans. Renamed in 2016 to honor its history, the building contributes to the Lafayette Square Historic District and houses the Office of Foreign Assets Control, the Treasury Library, and the Treasury Department Federal Credit Union.