Freedmen's Bureau Records: The Freedmen's Savings and Trust Company was incorporated by an act of Congress approved March 3, 1865 as a banking institution established in Washington, D. C. for the benefit of freed slaves. There were two military savings banks, one in Norfolk, Va. and the other in Beaufort, S.C. that were merged into the Trust Company soon after it was founded. From 1865 through 1870 a total of 33 branches were established, including an office that was opened in New York, N.Y., in 1866. In 1874 the Company failed.
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