Carver Federal Savings Bank

Overview / Commentary
75 West 125th Street at Lenox Avenue
New York, NY 10027

Founded on November 5, 1948, and named for agricultural researcher and scientist George Washington Carver, Carver formally began operations on 125th Street in Harlem, providing local residents a place to save and obtain mortgages to buy homes in their own communities on January 5, 1949. Now the largest African-American and Caribbean-American led bank in the United States, Carver continues its mission, providing banking services and by investing in its most precious resource, its customers. Carver channels its capital resources into underserved neighborhoods, investing over 80% of its deposits into the neighborhoods it serves.

Related Posts

Large CD Rate Drops At Carver Federal Savings Bank, NYC (Regional Availability) - 8/8/2020

(I posted about their rates back in June.) Effective July 27 60 mo. CD, $1000 minimum, was 1.92% APY, now 0.74% (60 mo. Jumbo CD, $100,000 minimum, "Negotiable") 48 mo. CD, $1000 minimum, was 1.82% APY, now 0.63% 36 mo. CD, $1000 minimum, was 1.56% APY, now 0.75% 24 mo. CD, $1000 minimum, was 1.36% APY, now 0.50% 18 mo. CD, $1000 minimum, was 1.26% APY, now 0.50% 12 mo. CD, $2500 minimum, was 1.01% APY, now 0.40%

Competitive CD Rates At Carver FSB In New York City (Regional Availability) - 6/18/2020

According to online application, residents of Connecticut, Delaware, District of Columbia, Maryland, Massachusetts, New Jersey, New York, Philadelphia, Rhode Island and Virginia are eligible. (It says "Philadelphia", not "Pennsylvania") Non-IRA rates 60 mo. CD, $1000 minimum, 1.92% APY 60 mo. Jumbo CD, $100,000 minimum, "Negotiable" 48 mo. CD, $1000 minimum, 1.82% APY 36 mo. CD, $1000 minimum, 1.56% APY 30 mo. CD, $1000 minimum, 1.41% APY 24 mo. CD, $1000 minimum, 1.36% APY 18 mo. CD, $1000 minimum, 1.26% APY 12 mo. CD, $2500 minimum, 1.01% APY (IRAs are available and are listed on rate sheet) Rate sheet at Online application at Bank branches are located in Manhattan, Brooklyn, and Queens [URL="https://ww

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Reviews (1)

The Absolute Worst!!

Posted by: |

My daughter has a custodial account she was able to create an online account when she called the bank to find out why she couldn't transfer funds into or out of the account all record of her account disappeared. My daughter is 18 by law that account is supposed to be turned over to her.That Brenda McCoy character told her to send in a "dormant" form and a copy of her I.D. and have it notarized she still does not have access to her account it's been over two weeks since she sent in this information every time she calls this "bank" she gets the runaround.. These people are liars and crooks , so much for supporting black businesses. My father who is in hospice in Harlem hospital made the account for my son and daughter, we both called the bank together,when we spoke to Brenda McCoy she says to my father, I swear on my late mother , this is what she says to my father, "I thought you were dying" then she accuses my daughter and myself of committing fraud by saying ,we don't sound right. Meanwhile my daughter's account has all but disappeared, there is no record of her account at Carver Federal Savings Bank my daughter has spoken to Janet Beach. Got the runaround. Today she spoke with with Raquel Green who in retaliation for my daughter , who in desperation, opened a case with The OCC refused to even speak with my daughter and told her she has to wait for the bank to respond to the OCC. They have never even tried to resolve my daughter's issues from where I am sitting I think they stole her money. These people are unethical trash and I am embarrassed and ashamed that they are representing black businesses. They looked for any excuse to deny my daughter access to an account that is in her name and have basically stolen her money. No wonder no customers can leave posts on their Facebook page. They are CROOKS!!


Health Grade Components

FDIC Certificate #30394
Year Established1948
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD-0.29%
Return on Equity - YTD-3.16%
Annual Interest Income$5.3MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$683.6MM$581.7MM
LoansQ1 2021vs Q1 2020$478.4MM$423.8MM
DepositsQ1 2021vs Q1 2020$577.0MM$496.3MM
Equity CapitalQ1 2021vs Q1 2020$63.5MM$64.6MM
Loan Loss AllowanceQ1 2021vs Q1 2020$5.1MM$4.9MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$14.4MM$7.4MM
Real Estate OwnedQ1 2021vs Q1 2020$60.00K$120.00K

Sorry, we do not have rate data for Carver Federal Savings Bank.


Carver Federal Savings Bank Locations
Crown Heights Branch1009 Nostrand AvenueBrooklyn, NY 11225
St. Albans Branch115-02 Merrick BlvdJamaica, NY 11434
Bedford-Stuyvesant Branch1392 Fulton StreetBrooklyn, NY 11216
Malcolm X Boulevard Branch142 Malcolm X BoulevardNew York, NY 10026
Atlantic Terminal Branch4 Hanson PlaceBrooklyn, NY 11217
Carver Federal Savings Bank75 West 125th StreetNew York, NY 10027
Flatbush Branch833 Flatbush AvenueBrooklyn, NY 11226

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