back to the National Black Catholic Congress : Home Page THE NATIONAL BLACK CATHOLIC CONGRESS
The Black Catholic Monthly | African Americans | Catholic News Black Catholic Congress: "We hold ourselves accountable to our baptismal 
    commitment to witness and proclaim the Good News of Jesus Christ"
NBCC
Calendar Of Events Calendar Congress X Media Center  Subscribe to "The Black Catholic Monthly" Newsletter News      Contact Us Contact Us
NBCC
NBCC
To Black Catholic Monthly Home Page

Featured Article: We joyfully announce the ‘Daniel Rudd Fund for African American Catholic Ministries’ - The Daniel Rudd Fund (DRF) for African American Catholic Activities was established by the National Black Catholic Congress (NBCC) Board of Trustees on Friday, November 8, 2013 in Baltimore, Maryland. It is a result of donations to the Congress to promote the ministry of African American Catholics. The Fund will financially support organizations who promote the NBCC Pastoral Plan. Read Full Story

NBCC STRUCTURE
 African American Catholic Bishops
 Congress Directory
 Board of Trustees
 NBCC Staff
Parish Search
 Find a Parish in your State
Black Catholic Newsletter
 We joyfully announce the ‘Daniel Rudd Fund for African American Catholic Ministries’
 “Influential” Ugandan Nun Shines Light on Sacred Tradition of Black Catholic Women
 The Death Penalty: It’s Adverse Impact on Communities of Color and The Poor, and Challenges to the Catholic Church
 Mental Illness Facts
 Marriage Retreat
 8 things you can do to prevent a stroke
Publications
 Book Of The Month:
The Catholic Church has the Answer
 Author Of The Month:
Sheree Brown-Johnson
NBCC Spotlight
 Fr. Juan Luxama
Black Catholic Profile
 Pamela R. Franco, Ph.D.
Upcoming Events
 Institute for Black Catholic Studies Xavier University of Louisiana, New Orleans, LA
June 30 - July 19, 2014
 The 2015 OCDS National Congress
October 14-17, 2015
In The News
 The National Black Catholic Congress (NBCC) African American Catholic Youth Bible receives Imprimatur!
 Scholar recounts Black Catholics rich History
 Meet the ‘evangelical’ Catholics who are remaking the GOP
 Black and Born to Succeed is Released
 Phoenix priest killed, another wounded in attack
 Pope condemns mafia, says members are excommunicated
 Are We Willing to Die for the Mass?
 Nudist Claims Catholic Saint Francis Embraced Body Freedom, Plans Naked March To Religious Shrine
 IRAQ: ‘Crisis on top of a crisis’ as food, water become scarce in upheaval
 Perkasa thanks God for judgment
 Msgr. Leonard Scott Retires
 Faithful honor martyred Ugandan saint: Waltham service attended by 200
NBCC Media
  Visit the NBCC Media Center
  Listen Live to Vatican Radio
requires Real Audio)
RECOMMENDED SITES
 Site Links

 NBCC : LIFESTYLE

The Freedman's Savings and Trust Company, 1865-1874

The Freedman's Saving and Trust Company : Bank BookThe Freedman's Savings and Trust Company is a rare document that has a rich source of data pertaining to the ex-slave immediately following the Civil War. It had a short life span but it left a plethora of information concerning the depositors, the family, and descendants.

Congress passed an Act of Incorporation for the Freedman's Savings and Trust Company and President Lincoln signed it into law on March 3, 1865. The Savings and Trust Company was chartered by Congress for the enhancement of the newly-freed slave, to teach them to save money for the future, to be thrifty and to be productive. The objective of the Savings and Trust Company was straightforward and clear. It was suppose to be a direct path to economic stability for the Negro.

A branch of the company was opened in Baltimore and became known as Freedman's Bank. Many organizations such as societies, clubs, as well as churches became members. As early as 1870, St. Francis Xavier Church, Sinking Society Fund had an account at the bank. The banking committee was John Peed, Cornelius Thomas and Paul C. Thomas. The pastor of St. Francis Xavier called a meeting of all of the societies and suggested that they initiate a plan to enable the priest executors of the accounts, so that they could carry out different projects for the good of the colored people.

As a response, St. Francis Xavier Sanctuary Society had an oyster supper and they deposited their proceeds in the Freedman's Bank. Their banking committee members were Cecelia Lee, Mary Ann Coates and Mary A. Lacer. In 1873, St. Francis instituted a Burial Society wherein the members were charged 10 cents a month and the monies deposited in the Freedman's Bank. The banking committee was John Peed and Anna Morris.

Subscribe to the Black Catholic Newsletter

St. Francis reached out to the community and started to feed the hungry and motherless children in the neighborhood. Some of the parishioner of St. Francis Xavier commenced an Orphan Aid Society. They, too, saved their money in the Freedman's Bank with a committee of three, Ellen Johnson, Eliza Thomas and Mary Jane Heall. This society is a forerunner of St. Elizabeth Home for Colored Children, which has its beginning in the 1870s.

There is a possibility that other organizations in the church used the services of the Bank, but they are not noted in the Freedman's Bank nor in the announcement book of St. Francis Xavier 1862-1882.

The announcement book of St. Francis contained the activities of the church and its members. It consisted of news and activities of the parishioners, such as, special occasions, benefits, entertainment programs, collections, prayers for the sick and the dying, death notices and marriage bans were also recorded. Rarely were the societies mentioned except in meetings and in advertisements. The accounts with the saving bank were not listed.

Several years before the origin of the Freedman's Bank, the black soldiers of the Civil War had been saving their monies in the Saving Bank of Baltimore, which had been established in the 1818. This took place through an allotment system supervised by officers of the regiment. In the Archaic files of the saving bank of Baltimore survives correspondence which lists the names of the soldiers of the 7th Regiment United States Colored Troops and their transactions with the bank.

Comment on LifeStyle Articles in the forum

The Freedman's Saving Bank seemingly operated well. In 1870, the change its policy of dealing with loans and investments that created economic problems that caused a dilemma within the bank financial structure. Frederick Douglass joined the bank as its president in 1874 to boost the moral of the depositors. He soon realized that the bank was in trouble and could not survive. He recommended to Congress that the bank should close. Congress passed an act to authorize the trustees to close the bank. By June of the same year, the extinction of the Freedman's Savings Bank was complete.

Mrs. Agnes Cane Callum is an historian, genealogist and researcher. She has a strong love and devotion to her people. Her innate desire to seek information concerning the achievements of her people is significant. She attributes this desire to tenacity of purpose inherited from sustaining ancestral characteristics. Mrs. Agnes Cane Callum is a member of the historic St. Francis Xavier Church in Baltimore

to top of page

NBCC
NBCC

Web Design : Web Marketing : Web Management : Baltimore Maryland - SLEEPER Technologies
 
An STI Site | Web Design by SLEEPER Technologies
Copyright 2003 www.nbccongress.org | All Rights Reserved | Reproduction in whole or in part in any form or medium without the expressed written permission of www.nbccongress.org is prohibited.