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 Statement on Charleston shootings, click here.
NBCC
To Black Catholic Monthly Home Page

Featured Article: Our Black Shepherds - Given the traditional European/American profile of the Church in the United States, there has always been urgings from the smaller ethnic groupings, Hispanic, African American, Italian, Polish, Asian, etc to have episcopal representation. And each group has its own story to tell with getting bishops appointed. 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
 Our Black Shepherds
 Read On For King Jesus
 Walking with the Saints, Learning about the Saints, Living like the Saints
 Sankofa Day Of Reflection Looks Back, Looks Forward
 We celebrate Most Reverend Fernand Cheri’s Ordination
 Now Soliciting Nominations For Participants 2015 Black Catholic Young Adult Listening Session
 Father Augustus Tolton
Publications
 Book Of The Month:
Morning Homilies
 Author Of The Month:
Cajetan Ngozika Ihewulezi
NBCC Spotlight
 NBCC Servant of Christ award recipient
Upcoming Events
 St. Martin De Porres Catholic Conference
May 8-9, 2015
 Celebrating Motherhood
May 9, 2015
 Finding Hope and Healing After Divorce
May 16, 2015
 Fr. Tolton Ambassador Program Meeting
May 21, 2015
 Youth Consultation Service Hiring Event
May 21, 2015
 Young Adult Retreat Summit
May 29-31, 2015
In The News
 Newsmaker: The Rev. James Chukwuma Okoye
 Sister Bowman's presence, energy recalled 25 years after her death
 Cuomo’s Political Ploy Could Cost Catholic-School Tax Credits
 The Shroud: Not a Painting, Not a Scorch, Not a Photograph
 Fernand J. Cheri ordained Auxiliary Bishop of the Roman Catholic Archdiocese of New Orleans
 Mass marks 50 years since Selma civil rights marches
 Students pray for safety of Pope Francis more than 1 million times
 Bishop addresses race in the U.S.
 Cardinal Sarah: Catholic Africa will resist any effort to change Church teaching
 Pascagoula priest returns home to celebrate golden anniversary as a Josephite
 Pope Francis to Address a Joint Session of the U.S. Congress
 Catholics On Campus
 Haitian man who lives in roadway berm finds help hard to come by
 Archbishop celebrates Shipwreck centennial Mass
 Career Opportunity Principal
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.

Article Index

Lifestyle Article Index

Serving Jesus

Sankofa Day Of Reflection Looks Back, Looks Forward

Walking with the Saints, Learning about the Saints, Living like the Saints

I Will Follow

How Cellphone Use Can Disconnect Your Relationship

John Paul II, Women, and the Catholic Contemplative Tradition

STRESS in the Workplace

Save the Children: “Sponsor a Child”

Echoes of Incarceration (10-min DVD)

The War on Drugs Disproportionately Effects African Americans

PRISON MINISTRY: “We Need YOU!”

2013 National Day of Prayer for Justice and Mercy

My Vocation Story by Sister Roberta Fulton, SSMN

But What's Wrong with “Same-Sex Marriage”?

Seeking Higher Ground

“Thou Shalt Not Kill”

“A Trial by Fire”: Homily for the Opening Mass of the National Black Catholic Congress

Bishop Braxton Urges African-American Catholics to Consider Views of Both Candidates Carefully and Vote

“The Open Door of Faith.” (Part I)

Line Dancing Benefits

What is Most Personal Is Most Universal

What Every Catholic needs to know about funerals

Lifestyle Article Index

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 our
FREE Bi-Monthly
Black Catholic
email newsletter.

Subscribe

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.

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
Black Catholic Calendar Calendar Of Events Subscribe to "The Black Catholic Monthly" Newsletter News       NBCC Forum NBCC Forum Contact Us Contact Us
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.