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Treasury to Commemorate 150th Anniversary of Freedman's Bank

 
WASHINGTON – On Thursday, January 7, 2016, the U.S. Treasury Department will host a ceremony to mark the 150th anniversary of the Freedman’s Savings and Trust Company (Freedman’s Bank) and name the Treasury Annex building the Freedman’s Bank Building. Treasury Secretary Jacob J. Lew, Assistant Secretary for Management Brodi Fontenot, Howard University Department of Economics Chair Dr. William Spriggs, and Liberty Bank and Trust President and CEO Alden McDonald will deliver remarks and reflect on the legacy of the Freedman’s Bank.
 
The Freedman’s Bank was established in 1865 to create an opportunity for wealth-building among the nation’s four million newly emancipated African-Americans. During its nearly 10-year existence, approximately 100,000 African-American individuals and institutions amassed $57 million in the bank’s Washington, D.C. headquarters and its branches in 37 cities across 17 states. Despite the closing of the Freedman’s Bank in 1874, it remains a significant part of American history and this event will highlight the historical significance of the bank and its original mission – to promote economic integration and financial inclusion.
 
The Treasury Annex building in Washington, D.C. stands on the site of the original bank.
 
WHO:
Jacob J. Lew, Secretary, U.S. Department of the Treasury
Brodi Fontenot, Assistant Secretary for Management, U.S. Department of the Treasury
Dr. William Spriggs, Professor and Chair, Howard University Department of Economics.
Alden McDonald, President and CEO, Liberty Bank and Trust
 
WHAT:      
Freedman’s Bank Naming Ceremony
 
WHEN:      
Thursday, January 7, 2016, 4:00 p.m. - 5:00 p.m. EST
 
WHERE:     
U.S. Department of the Treasury
Cash Room
1500 Pennsylvania Avenue NW
Washington, DC 20220
 
RSVP:          
Media planning to attend must RSVP by 3:30 p.m. EST on Tuesday, January 5, 2016 to Ronda Buckmon at Ronda.Buckmon@treasury.gov.   
 
Media without press credentials issued by Treasury must include the following information for access into the building: (1) full legal name, (2) date of birth, (3) Social Security number, and (4) country of citizenship.
 
Media attending with camera equipment must arrive at the South Entrance (15th Street and Alexander Hamilton Place) no later than 3:30 pm EST on January 7 to allow time for equipment sweeps and set-up. No vehicles will be permitted onto Treasury grounds, and equipment must be carried in. All other media should arrive by 3:45 pm. EST at the main entrance (Pennsylvania Avenue/New York Avenue and 15th Street).
 
A live webcast will be available at http://www.treasury.gov/press-center/Video-Audio-Webcasts/Pages/Webcasts.aspx
 
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Last Updated: 12/29/2015 2:50 PM

Treasury Facts

  • The Treasury is the oldest departmental building in Washington and at the time of its completion, it was one of the largest office buildings in the world.