The bank was established by an act of the U.S. Congress on March 3, 1865, and signed into law by President Abraham Lincoln, specifically to serve African Americans newly freed from slavery and others who lacked access to conventional banking services. It was intended to provide a safe place for deposits and financial education, helping freedmen accumulate savings and achieve economic independence. Its charter originally limited risky practices — it was designed to invest primarily in secure assets like U.S. government The bank expanded rapidly, opening about 37 branches across 17 states and Washington, D.C. by the early 1870s. Tens of thousands of African Americans — estimates range from around 60,000 to over 70,000 depositors — placed their savings there. Many accounts were small (sometimes as little as a few cents), reflecting the limited earnings of its customers, but the overall deposits totaled millions of dollars. In the South, the banks were run by Northern Carpetbaggers, and the experiment suffered from mismanagement that resulted in its collapse in 1874. The Freedman’s Savings and Trust Company stands as a landmark early effort to promote economic opportunity for African Americans after the Civil War — and as a cautionary example of how mismanagement and lack of proper oversight can undermine even well-intentioned institutions. Its collapse affected not only individual finances but also broader trust in the banking system among Black Americans. The booklet is in good condition except for a tear in the upper left-hand corner, as shown in my photographs. The Freedman's name is on the front of the book and appears to be Abram Calhure. The possible ID may be Abram Carle, who enlisted as a private in the 106th USCT in Decatur, Alabama, on July 1, 1864. Further research is needed. Extremely rare and the first one I have encountered.