The Freedman Saving Bank was established in Lexington to serve Lexington's black population in 1871. The bank was located on West Main and North Upper Street. William Cassius Goodloe, a nephew of Cassius M. Clay, was President. Mr. Goodloe was also a director of the Fayette National Bank. The Freedman Saving Bank was sponsored by the Freedman Bureau, a Federal agency set up after the Civil War to help the recently freed slaves. The firm operated until around 1880.
References:
William M. Ambrose, First Security National Bank & Trust Company (1835-1992), Limestone Press, Lexington, 2007.
