Horace Gascott

Carver Federal Savings Bank

Founded in 1948, and named for agricultural researcher and scientist George Washington Carver, Carver Federal Savings Bank formally began operations on January 5, 1949 on 125th Street in Harlem, providing local residents a place to save and obtain mortgages to buy homes in their own communities. In February 1961, Carver opened its first branch in the Bedford-Stuyvesant section of Brooklyn and continued expanding its operations in Manhattan, Brooklyn and Queens into the 1990s. In 1994, Carver Bancorp, Inc. became a publicly traded company and in 2007 was listed on the NASDAQ stock exchange (CARV). Carver Bancorp, Inc. is the holding company of Carver Federal Savings Bank. Today, Carver is the largest African- and Caribbean-American operated bank in the USA and channels its capital resources into underserved neighborhoods by reinvesting over 83% of its deposits into the communities we call home. The Bank remains rooted in expanding wealth enhancing opportunities in the communities it serves, by expanding access to capital and financial advice to consumers, businesses and non-profit organizations, including faith-based institutions. Carver remains headquartered in Harlem, and predominantly all of its 9 branches and stand-alone 24/7 ATM Centers are located in low-to-moderate income neighborhoods.