For over 70 years Carver Federal Savings Bank’s mission has been to provide New Yorkers with access to competitively priced banking solutions regardless of their income level. As the largest African and Caribbean-American managed and publicly traded Minority Depository Institution in the U.S. today, the bank continues to pay this mission forward by providing access to reasonably priced loan capital and no-cost financial literacy training to aspiring Minority and Women-owned Business Enterprises (MWBEs) and consumers across the Greater New York City region.
Carver Federal Savings Bank was founded in 1948 to serve African-American communities whose residents, businesses, and institutions had limited access to mainstream financial services. Today, Carver is the largest African-American operated bank in the United States. Since its inception, the Bank has continuously been headquartered in Harlem, and most of our eight branches and 24/7 ATM Centers are located in low to moderate income neighborhoods.
It has been designated by the U.S. Treasury Department as a Community Development Financial Institutions (CDFI) because of community-focused banking services and dedication to the economic viability and revitalization of under-served neighborhoods. A measure of its progress in achieving this goal includes the Bank’s most recent “Outstanding” Community Reinvestment Act rating.
“When you do common things in life in an uncommon way, you will command the attention of the world.” — George Washington Carver (1864–1943)
Carver Bank commitment to provide New Yorkers with access to competitively priced banking solutions regardless of their income level is shown in their initiatives and outstanding service to their customers:
- Seven full-service branches in the New York City boroughs of Brooklyn, Manhattan, and Queens
- Member of the Allpoint ATM network giving customers access to 55,000 ATMs nationwide
- A full range of banking services to meet customers’ financial needs.
- A free mobile app available through the Apple and Google Play app stores
- Consistently awarded an “Outstanding” rating for community reinvestment by the U.S. Office of the Comptroller of the Currency based on the geographic distribution of our loan portfolio to communities served
- As a leader in providing loans to MWBEs, Ranked #1 for three consecutive years (2014-2016) for the New York State “Bridge to Success” Loan Program.
- Provided free financial literacy training to more than 16,000 individuals, mostly low-income consumers and aspiring entrepreneurs