Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. The bank’s stock has been soaring of late and the future looks bright. Not only is it time to bank Black, it’s also time to invest Black.
Carver was founded in 1948 in Harlem to serve Black customers who were underserved elsewhere. The bank was named after Black agricultural researcher and scientist George Washington Carver. In June, Netflix announced their commitment to shift $100 million into Black financial institutions. The news sent Carver Bancorp’s stock up as much as 192%. After Kamala Harris was announced as Joe Biden’s running mate, Carver Bancorp was trading 17% higher in Tuesday’s after-hours session, according to Benzinga. Carver Bancorp’s stock has a 52-week high of $22.97 and a 52-week low of $1.25.
100 percent of Carver’s Board of Directors are African and Caribbean Americans, 40 percent of which are female. Carver has seven bank branches spread throughout Harlem, Brooklyn and Queens. Just as in 1948 when the bank was organized, Carver remains committed to serving Black communities. Indeed, investing in the bank’s stock represents a sure way to invest in Black people. To further that mission, the bank recently received a $14 million grant from Morgan Stanley, news that also helped the company’s stock.
It’s time to buy, bank and yes, invest Black. Carver Bancorp is a firm with a beautiful history, bright future and shining present. Black investors who are looking for a destination should most certainly consider this bank.