Carver Federal Savings Bank

The largest African- and Caribbean American-operated bank in the US reinvests over 80% of its deposits back into the community

About Carver Federal Savings Bank

Carver Federal Savings Bank is an urban community development bank dedicated to providing a full range of financial services to its customers. Carver is committed to meeting the credit needs of the communities it serves, increasing profitability, and enhancing stockholder value.

Founded on November 5, 1948, and named for agricultural researcher and scientist George Washington Carver, Carver began providing local residents a place to save and obtain mortgages to buy homes in their own communities. Today, Carver is the largest African- and Caribbean-American operated bank in the US and channels its capital resources into underserved neighborhoods by reinvesting over 80% of its deposits into the communities it calls 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. 

Visit this bank online.

Carver is a member of the NCIF Network:

  • BankImpact Dashboards Reporting Bank
  • Equity Investee Bank
  • Social Performance Working Group Member
  • NMTC 3-Way Partnership Partner

Impact Story

Andrew Simmons founded LaShay Construction in 1996 and through the Metropolitan Transit Authority Small Business Mentorship Program and grew the business by building and renovating the City’s transit infrastructure. As a certified Minority Business Enterprise (MBE) and Disadvantaged Business Enterprise (DBE) firm with a number of city and state agencies, LaShay Construction has worked as a general contractor or a subcontractor on highways, bridges and tunnel reconstruction projects. LaShay has also worked on Subway and commuter rail rehabilitation projects. Carver has been with Mr. Simmons every step of the way, providing capital and banking services to help his ‘can-do’ spirit and find continuing success.

LaShay Construction has had substantial impact in its community including: 

  • 63 MWBE jobs created
  • 122 MWBE jobs retained
  • $3.34 million minority and women business enterprise (MWBE) 2013-2014 lending total

“Growing a business from the ground up takes vision, believing, faith and an awful lot of hard work. And it helps to have a banking partner who’s in it for the long haul.” – Andrew Simmons, Founder, LaShay Construction