Carver Federal Savings Bank Turns 60

Bank to invest TARP capital for growth

optimistic about its prospects. It received $19 million in the first round of funds distributed as part of the federal government’s Troubled Assets Relief Program (TARP).

“The trick is to invest that capital for growth,” Wright said. “We hope to be in a position to consolidate some of the banks that are in trouble and some that aren’t. We hope to pick up some branches and obviously to expand loans to our community, which we’re already doing. So for us, the capital is for growth” she added.

William C. Thompson, New York City comptroller, praised the institution’s “rich and strong tradition,” adding “Carver’s best days are still ahead of them.”

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  • Congradulations to Craver, you have been up and down but like the bible says, the last shall be first. Respectfully,

  • MB Smith

    This feel-good story is nice, but the reality is that Carver refuses to comply w/ Pres. Obama’s request to TARP banks to assist in deferring payments & modifying loans. I have an SBA loan w/ Carver, formerly from CCB, and the loan offer told me, and I quote, “we have decided not to comply with the rules, and they’re voluntary so we don’t have to.” Let’s give them another $19 million so D. Wright can pocket another $650,000 salary this year.
    Carver has ruined my credit, my business & my life. This is all documented w/ the NY office of the SBA.

  • I enjoy reading stories about black-owned businesses who are doing well. This proves once again that if we work together, we can improve our community.

  • Marc Lent

    My wife and I had a business loan and a mortgage with Carver. I have requested a loan modification for my home loan only to find out that Carver is not a direct lender. They are a front for a white owned mortgage broker in NJ. When I got the loan I sat face-to-face with a brother in Harlem and now when I need some help I can’t get anyone to call me back. The entire department was “outsourced” to another company. So much for black owned.

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