WASHINGTON, Dec. 9, 2015 /PRNewswire-USNewswire/ -- Treasury Secretary Jacob J. Lew and the U.S. Treasury Department announced yesterday the renaming of the Treasury Annex building in Washington, DC; the building will be officially renamed the Freedman's Bank Building in a ceremony on January 7, 2016. The Annex stands on the site of the original Freedman's Bank, and the renaming of the building will commemorate the 150th anniversary of the Freedman's Savings and Trust Company, which was created to assist and guide the economic development of emancipated Americans in the post-Civil War period.
"Today's U.S. Treasury announcement on the Treasury Annex Building being renamed after Freedman's Bank is a continuation of the 150-year legacies of President Abraham Lincoln and Frederick Douglass and their shared goal – economic empowerment for former slaves," shared Ambassador Andrew Young. "Designating the U.S. Treasury Annex the Freedman's Bank Building is a beginning for the fulfillment of the promise that Dr. Martin Luther King, Jr. so passionately declared in his I Have a Dream speech in 1963. As a leader in the Civil Rights movement, and as Global Spokesman for Operation HOPE, I am grateful to President Obama and Treasury Secretary Lew for taking this extraordinary step."
The Freedman's Bank, established on March 3, 1865, by President Lincoln through an act of Congress remains an important milestone in American history. The renaming will memorialize its significance and will serve as a reminder that all Americans, particularly those who are underserved and struggling, are included and should prosper in the free enterprise system.
"This is a historic day," said John Hope Bryant, Founder and CEO of Operation HOPE. "Operation HOPE wants to express our gratitude to Secretary Lew and the U.S. Treasury for taking such a bold step and for recognizing the importance of inclusive economics. Forever, the Freedman's Bank building will stand as a strong reminder that America's greatness was founded on free enterprise and that we must continue to ensure the Silver Rights of everyone. Operation HOPE is proud to have been part of this historic change."
Since 1992, Operation HOPE has been moving America from Civil Rights to Silver Rights by providing financial and economic empowerment tools and services, earning it the distinction as the nonprofit private banker for the working poor. John Hope Bryant, Operation HOPE founder and CEO, along with other HOPE leaders and supporters, will be joining Secretary Lew at the event on January 7.
About Operation HOPE
Operation HOPE is the leading global provider of financial dignity education and economic empowerment programs for low-to-moderate income youth, individuals and families in underserved communities and is recognized by Charity Navigator as a four-star nonprofit. Operation HOPE's Project 5117 youth and adult empowerment programs are combating economic inequality by improving financial literacy, strengthening small businesses and creating new entrepreneurs.
SOURCE Operation HOPE