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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