Carver Bancorp, Inc. celebrates Black History Month by ringing NASDAQ closing bell

Michael Pugh, President & CEO Carver Federal Savings Bank. PHOTO/Buck Ennis

(PRNewswire) – Carver Bancorp, Inc. – the holding company for Carver Federal Savings Bank (“Carver”) – in recognition of Black History Month, had its executives ring The NASDAQ Stock Market Closing Bell on Monday, February 6, 2017.

“As the first African American-owned and managed bank to be listed on The NASDAQ Stock Market, it was befitting for Carver to ring the Closing Bell on the first Monday of Black History Month,” remarked Carver’s President and CEO Michael T. Pugh.

“Our institution is named after the famous African American inventor George Washington Carver, who once said: ‘Where there is no vision. There is no hope.‘ “
Carver first opened its doors in Harlem in 1948 at a time when mainstream banking options were not readily available to persons of color. Since then, we have grown to become the largest African American managed bank in the U.S., with a demonstrated track record of promoting economic development and the revitalization of underserved communities.

“On this occasion we are proud to honor not only our namesake and our own institutional heritage, but also the contributions of countless others who have shared our vision for a more unified and prosperous American society,” concluded Pugh.

About Carver Bancorp, Inc.: Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank, a federally chartered stock savings bank. Carver was founded in 1948 to serve African American communities whose residents, businesses, and institutions had limited access to mainstream financial services. In light of its mission to promote economic development and revitalize underserved communities, Carver has been designated by the U.S. Department of the Treasury as a community development financial institution. Carver is the largest African American-owned and managed bank in the United States, with 9 full-service branches in the New York City boroughs of Brooklyn, Manhattan, and Queens.

Source: Carver Bancorp, Inc.