Carver Federal Savings Bank Donates $30,000 To Crown Heights Community Organizations

As part of Carver's continued commitment to the diverse neighborhoods it serves across Brooklyn, Manhattan and Queens, a $10,000 check was presented to each of these organizations to support their meaningful work in the Crown Heights community:

• DREAMS/YouthBuild program is part of the Settlement Housing Fund's Brooklyn-based alternative school and vocational training programs, which assists individuals in obtaining high school equivalency diplomas and job skills, securing employment and enrolling in college or vocational school.

• CHJCC provides vital programs and services, such as housing, job assistance, adult education, and at-risk-youth and crime prevention, which are available to all residents of Crown Heights.

• CHYC provides development-oriented programs to the youth and families of Crown Heights with cultural, educational, employment and career counseling services.

"Neighborhoods are only as strong as the people who live and work in them," remarked Michael T. Pugh, President and Chief Executive Officer of Carver. "As a mission-based community bank we are thrilled to honor and support the good works of DREAMS/YouthBuild, Crown Heights Jewish Community Council and Crown Heights Youth Collective. The Crown Heights community is strengthened by the positive contributions that these three organizations make every day. I wish them much more success and look forward to our continued partnership." 

"Carver's newly renovated Crown Heights branch is yet another demonstration of its commitment to the local neighborhood," said Ditashiah Kohn, Director of Settlement Housing Fund-DREAMS/YouthBuild. "Our organization's mission is to help young adults become dedicated, responsible, educated, accountable, motivated, and self-sufficient. We are confident that we will be able to put Carver's generous donation of $10,000 to good use, and once again, we applaud the Bank for its 70-year commitment to serving the needs of low-and-moderate income individuals and families across the Greater New York City area."    

"The Crown Heights community is fortunate to have such a strong partner in Carver Federal Savings Bank," said Rabbi Eli Cohen, Executive Director of Crown Heights Jewish Community Council. "Our organization serves over 5,000 clients each year, providing vital assistance to residents and families in need.  Carver's generous donation of $10,000 will help us to further assist those who need help in the Crown Heights community.  We look forward to a continued fruitful partnership with Carver."

"The Crown Heights Youth Collective was established in 1978 in response to the need to provide comprehensive services for disadvantaged youth in the Crown Heights section of Brooklyn," said Richard Green, Chief Executive, Crown Heights Youth Collective. "Now, more than ever, we need mission-based partners from the business community like Carver that can help support the important work that we are doing in the local community.  We thank Carver for its friendship and its generous donation of $10,000—which will be put to immediate use to support our summer projects."

About Carver Bancorp, Inc.
Carver Bancorp, Inc. (Nasdaq: CARV) 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.  Considering 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- and Caribbean-American managed bank in the United States, with nine full-service branches in the New York City boroughs of Brooklyn, Manhattan, and Queens.  For further information, please visit the Company's website at www.carverbank.com.

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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.

Media Contacts:
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SOURCE Carver Federal Savings Bank

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