ncarol.com - U.S. DEPARTMENT OF THE TREASURY, OPERATION HOPE AND SHAW UNIVERSITY TO CO-HOST 2024 FREEDMAN'S BANK FORUM IN RALEIGH, NC

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ATLANTA, July 12, 2024 ~ On Friday, July 12, 2024, the Freedman's Bank Forum was held at Shaw University in Raleigh, North Carolina. Co-hosted by the U.S. Department of the Treasury, Operation HOPE, and Shaw University, the annual event aimed to honor the legacy of the Freedman's Savings and Trust Company and discuss new approaches to increase economic participation for all Americans.

The forum featured a lineup of esteemed speakers including U.S. Deputy Secretary of the Treasury Wally Adeyemo, Governor Roy Cooper, Operation HOPE CEO John Hope Bryant, and officials from the Biden-Harris Administration. Leaders from various sectors such as public, private, nonprofit, and philanthropic were also in attendance.

The Freedman's Savings and Trust Company was established in 1865 by President Abraham Lincoln to provide financial tools for newly emancipated Black Americans. Its mission was to help them safeguard their earnings, build financial security, and generate family wealth. The bank had 19 original branches across the country with one located in Raleigh.

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The idea for the Freedman's Bank Forum was first proposed by Operation HOPE Founder and CEO John Hope Bryant in 2015. This came after then-Treasury Secretary Jack Lew christened the Treasury Annex as the "Freedman's Bank Building" at Bryant's request.

The forum serves as an annual convening for diverse groups to come together and brainstorm new approaches to address economic inequity. It also provides a platform for building connections to execute these ideas.

The event kicked off with opening remarks from various speakers including pre-recorded messages from Secretary Janet L. Yellen and Congresswoman Valerie Foushee. Governor Roy Cooper and Dr. Paulette Dillard, President of Shaw University also gave remarks along with John Hope Bryant himself.

Following the opening remarks was a fireside chat between U.S. Deputy Secretary of the Treasury Wally Adeyemo and John Hope Bryant. The conversation delved into the Administration's efforts to deliver capital to underserved communities, Treasury's investments in Black financial institutions, and the legacy of Freedman's Bank.

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Prior to the forum, Deputy Secretary Adeyemo and Mr. Bryant met with local Operation HOPE financial coaches and their clients. This gave them a firsthand look at how Operation HOPE's "HOPE Inside" model helps individuals overcome financial challenges and become successful small business owners and creditworthy banking consumers.

The event also included a panel discussion on how local and regional organizations in Raleigh are utilizing funds from national initiatives to increase capital and tech assistance among Black entrepreneurs. Moderated by Armer Kenchen from the NC Rural Center, the panel featured Travis Rouse from M&F Bank, Crystal German from Self-Help Credit Union, and Roberta McCullough from the Institute Capital National Institute of Minority Economic Development.

The forum concluded with closing remarks from Mayor Stephen K. Benjamin, Assistant to the President, Senior Advisor to the President, and Director of the White House Office of Public Engagement. The event was livestreamed for those who were unable to attend in person.

The Freedman's Bank Forum served as a reminder of the importance of economic empowerment for all Americans. Through discussions on new approaches and success stories in Raleigh, it highlighted the legacy of Freedman's Bank and its continued relevance in today's society.

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