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Carver Federal Savings Bank Participates in the 2015 New York State Minority and Women Business Enterprise Forum

-- Forum is the Largest New York State Business Event for Minority- and Women-Owned Businesses --



-- Significant Opportunity Exists for Minority- and Women-Owned Businesses to Participate in NYS Public Sector Contracting --

-- Bankers at Carver’s Ten Branches in Brooklyn, Queens and Manhattan Are Available to Discuss Program Details and Lending Options With Potential Participants --

NEW YORK, Oct. 28, 2015 (GLOBE NEWSWIRE) -- Carver Bancorp, Inc. (Nasdaq:CARV), the holding company for Carver Federal Savings Bank (“Carver” or the “Bank”), today announced that the Bank participated in the 2015 New York State Minority and Women Business Enterprise (“MWBE”) Forum held on October 1-2, 2015. This forum, the largest event for minority- and women-owned businesses in New York State, provides participants with the tools and knowledge to participate successfully in state contracting opportunities.

Under Governor Andrew M. Cuomo, New York State has committed to increase the rate of MWBE participation in state contracting to the highest level in the nation. Over the next five years, New York State’s Fiscal Year 2016 Capital Program and Financing Plan projects capital spending to exceed $54 billion.

“As a leading New York City-based community bank, we are proud of our longstanding partnership with New York State and Governor Cuomo on programs that enhance access to state contracting for minority- and women-owned businesses,” said Michael T. Pugh, President and CEO of Carver. “To better serve these businesses, Carver has expanded our lending team and product suite over the past year. If you are interested in learning more about how Carver can help your business grow and participate in the MWBE program, please call our lending department or stop by one of our ten branches and speak with one of our expert bankers.”

For more than 65 years, Carver has served middle- and lower-income neighborhoods in Brooklyn, Manhattan, Queens and the Bronx. The Bank reinvests more than 80 percent of deposits back into these communities through local loans that support business growth, job creation, and development. Carver is also a capital-access lender for the Metropolitan Transit Authority’s Small Business Mentoring Program, which creates new opportunities for MWBEs seeking to participate in municipal construction contracts.

To further serve the small business community, Carver offers training and capacity building. Earlier this year, Carver partnered with the New York State Business Development Center on a two-day seminar to strengthen the skills of local small businesses, middle-managers, and aspiring entrepreneurs.

For more information on Carver’s MWBE and business lending services, please contact the Carver Lending Department at 212-360-4795 or businesslending@carverbank.com.

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 among the largest African- and Caribbean-American managed banks in the United States, with ten 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.

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.

Contacts: Michael Herley/Ruth Pachman Kekst and Company (212) 521-4897/4891 michael-herley@kekst.com ruth-pachman@kekst.com

Source:Carver Bancorp, Inc.