NEW
YORK, May 28, 2024 /PRNewswire/ -- Carver
Bancorp, Inc. (Nasdaq: CARV) ("Carver"), the holding company for
Carver Federal Savings Bank (the "Bank"), a certified Community
Development Financial Institution and a designated Minority
Depository Institution, is proud to announce the closing of a
$25 million revolving senior
unsecured term loan under the Community Decarbonization Fund with
NY Green Bank.
"Carver's collaboration with NY Green Bank enables us to
leverage critical funds needed to advance clean energy and build
electrification projects in communities that have historically
faced financial barriers," said Craig C.
MacKay, Interim President and CEO of Carver.
The loan facility will support the Bank in financing initiatives
that reduce greenhouse gas emissions and promote energy efficiency
in building projects, fleet upgrades to electric vehicles, and
electric vehicle charging station infrastructure. Funding will also
support the working capital and asset-specific financing needs of
MWBE contractors working on green energy projects, weatherization,
electrification, and green technology.
"NY Green Bank is proud to support Carver, whose commitment to
serving diverse middle-income neighborhoods is well aligned with
the energy benefit goals of the Community Decarbonization Fund,"
remarked David Davenport,
Managing Director at NY Green Bank. "By providing
mission-driven lenders like Carver with low-cost capital that
supports sustainable infrastructure, we aim to advance New York State's greenhouse gas reduction
goals."
Mr. MacKay added, "It is vital that we invest in
initiatives that aim to mitigate the impact of climate change and
contribute to a more sustainable future for the next generation of
New Yorkers. Our partnership with NY Green Bank is a notable step
toward achieving these goals. This $25
million in available funding in partnership with NY Green
Bank underscores our commitments to environmental stewardship by
strengthening our ability to foster long-term economic growth,
cleaner air, and resiliency in the diverse, lower- and
middle-income communities we have proudly served since 1948."
For more details on the program, please get in touch with
Reuben Miller, VP and Commercial
Lender, at Reuben.Miller@carverbank.com.
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 and Caribbean-American communities in New York 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 one of
the largest African- and Caribbean-American managed banks 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, DC. For further information,
please visit the Company's website at www.carverbank.com. Be
sure to connect with Carver on Facebook, LinkedIn, and
Instagram.
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:
Michael Herley
for Carver
203.308.1409
mediainquiries@carverbank.com
Investors:
ir@carverbank.com
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SOURCE Carver Bancorp, Inc.
