Carver Bancorp (NASDAQ:CARV) (NASDAQ: CARV) is the bank holding company for Carver Federal Savings Bank, a New York–headquartered institution serving a diverse customer base through a network of full-service branches across the five boroughs of New York City and parts of New Jersey. Carver Bancorp’s mission is to promote economic empowerment and financial inclusion within urban and underbanked communities, reflecting its roots as one of the nation’s leading African-American–chartered banks. The company provides a broad range of banking services to individuals, small businesses and nonprofit organizations, with an emphasis on delivering accessible, community-oriented financial solutions.
Carver’s core business activities encompass traditional deposit products such as checking, savings, money market and certificate accounts, along with specialized products tailored to the needs of low-to-moderate income customers. On the lending side, Carver Bancorp offers residential mortgage loans, home equity lines of credit and consumer installment financing. Its commercial lending portfolio includes small business loans, lines of credit and commercial real estate financing, designed to support local enterprises and spur job creation in its service areas.
Founded in 1948 by a coalition of Harlem civic and business leaders, Carver Federal Savings Bank was established to serve African-American communities that were largely underserved by mainstream financial institutions. Throughout its history, Carver has remained committed to community development and affordable housing initiatives, participating in public-private partnerships and federal programs to revitalize urban neighborhoods. In recent years, the company has modernized its offerings with digital banking platforms, mobile deposits and online account opening, while maintaining a strong community presence through financial literacy workshops and outreach events.
Under the leadership of President and Chief Executive Officer Wanda M. Milligan, Carver Bancorp continues to emphasize corporate governance, risk management and regulatory compliance. The bank’s board of directors comprises seasoned professionals with expertise in finance, real estate, community development and law. By balancing innovative technology solutions with a deeply rooted community focus, Carver Bancorp aims to uphold its legacy of economic inclusion while positioning itself for sustainable growth in the evolving financial services industry.
