NEW YORK, Feb. 5, 2021 /PRNewswire/ -- Carver Federal
Savings Bank ("Carver" or the "Bank"), a certified Minority
Depository Institution ("MDI"), and John
Hope Bryant, an American entrepreneur and philanthropist,
announced today that Operation HOPE, Inc. and The Promise Homes
Company are collectively making a sizeable long-term deposit
in Carver to support economic empowerment in communities of color.
Carver is a historic, Black-managed bank founded by a group of
civically minded community leaders in 1948 and has consistently had
its headquarters located in Harlem. The Bank continues to pay its
mission forward, focusing on Minority and Women Business
Entrepreneurs ("MWBEs"). It proudly reinvests approximately
$0.80 of each deposit dollar it takes
in back into the diverse communities it operates in through
competitively priced loans.
John Hope Bryant, the Founder and
CEO of both Operation HOPE, Inc. and The Promise Homes Company, is
passionate about providing minority communities with the tools to
build wealth - financial literacy, financial inclusion, and
economic empowerment. "It is a true honor to make a deposit into
one of the largest Black-managed financial institutions in the
nation on behalf of Operation HOPE and The Promise Homes Company,"
said John Hope Bryant, principal
founder of both organizations. "This investment marks a full circle
moment for me, proving that if I can go from homelessness at age
18, to making a significant deposit in a Minority Depository
Institution, there is nothing that young Black and Brown strivers
today can't do.
"Banks like Carver have been instrumental in economic
self-sufficiency for Black Americans, investing in and uplifting
Black communities across the nation and creating opportunities for
aspiring Black entrepreneurs. I, along with Operation HOPE and The
Promise Homes Company, believe that when you give back to your
community, you'll get back even more. This deposit is just the
beginning of a new chapter as we look to launch HOPE 1MBB, our
focus on standing up 1 Million Black Businesses by 2030."
"It's terrific news for communities of color when business
leaders like John Hope Bryant direct
their companies to make a long-term deposit in a Black-managed bank
such as Carver," said Michael T.
Pugh, President and CEO of Carver. "We celebrate Black
History Month this February and recognize the importance of making
attractively priced loan capital available to MWBEs, which are the
economic engines in our communities. Our bankers are ready to
deploy these deposit dollars back to those micro and small
businesses that need our support more than ever. On behalf of
Carver, I wish to thank John Hope
Bryant and his team for making this commitment to Carver and
supporting our mission."
About Carver Bancorp, Inc.
Carver Bancorp, Inc.
(NASDAQ: CARV) is the holding company for Carver Federal Savings
Bank, a federally chartered stock savings bank. Headquartered in
Harlem, NY, Carver was founded in 1948 to serve African-American
communities whose residents, businesses, and institutions had
limited access to mainstream financial services. The U.S. Treasury
Department has designated Carver as a Community Development
Financial Institution (CDFI) because of its community-focused
banking services and dedication to its local community's economic
viability and revitalization. Carver is the largest African- and
Caribbean-American managed Bank in the
United States. The Bank recently expanded its online
presence to include consumer checking and savings accounts across
nine states, from Massachusetts to
Virginia, and Washington, D.C. For further information,
please visit the Company's website at www.carverbank.com. Be sure
to connect with Carver on Facebook, LinkedIn, and Twitter.
About Operation HOPE, Inc.
Since 1992, Operation HOPE has been moving America from civil
rights to "silver rights" with the mission of making free
enterprise and capitalism work for the underserved—disrupting
poverty for millions of low and moderate-income youth and adults
across the nation. Through our community uplift model, HOPE Inside,
which received the 2016 Innovator of the Year recognition by
American Banker magazine, Operation HOPE has served more than 4
million individuals and directed more than $3.2 billion in economic activity into
disenfranchised communities—turning check-cashing customers into
banking customers, renters into homeowners, small business dreamers
into small business owners, minimum wage workers into living wage
consumers, and uncertain disaster victims into financially
empowered disaster survivors. Project 5117 is our multi-year
four-pronged approach to combating economic inequality that aims to
improve financial literacy, increase business role models and
business internships for youth in underserved communities, and
stabilize the American dream by boosting FICO scores. Operation
HOPE recently received its seventh consecutive 4-star charity
rating for fiscal management and commitment to transparency and
accountability by the prestigious non-profit evaluator, Charity
Navigator. For more information: www.OperationHOPE.org. Follow
Operation HOPE on Twitter and Facebook @operationhope
Media:
Michael Herley for Carver
203.308.1409
mediainquiries@carverbank.com
Omar Renta for John Hope Bryant
646.675.8151
renta@sunshinesachs.com
Certain statements in this press release are "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act. These statements are based on management's current
expectations and are subject to uncertainty and changes in
circumstances. Actual results may differ materially from those
included in these statements due to a variety of factors, risks,
and uncertainties. More information about these factors,
risks, and uncertainties is contained in our filings with the
Securities and Exchange Commission.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/carver-federal-savings-bank-and-john-hope-bryant-announce-a-new-sizeable-long-term-deposit-in-the-bank-to-support-economic-empowerment-in-communities-of-color-301223066.html
SOURCE Carver Federal Savings Bank