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Carver Bancorp President and CEO Michael T. Pugh Honored by Union Settlement Association

NEW YORK, April 26, 2016 (GLOBE NEWSWIRE) -- Carver Bancorp, Inc. (the “Company”) (NASDAQ:CARV), the holding company for Carver Federal Savings Bank (“Carver”), today announced that the Company’s President and Chief Executive Officer, Michael T. Pugh, was honored by Union Settlement Association for contributions to the fields of finance and community development at its Annual Solutions Benefit Fundraiser, held on April 19, 2016.



A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e9134d56-08c4-44cc-8717-1180a48f7416

“We are delighted to present this award to Michael in recognition of his leadership and Carver’s commitment to serving the diverse banking needs of lower- to middle-income communities across Brooklyn, Manhattan and Queens,” said David Nocenti, Executive Director of Union Settlement. Mr. Nocenti added, “As East Harlem’s oldest and largest social service provider, our organization shares Carver’s steadfast dedication to community service, and Michael embodies these values.”

Mr. Pugh said, “Receiving this award is truly humbling. I want to express my gratitude and thanks to Union Settlement, which is a standard-bearer for contributing to the economic vitality and success of East Harlem. As a community bank, Carver reinvests approximately 83 cents of each dollar deposited with us back into the communities we serve, and we remain committed as ever to empowering local customers, entrepreneurs and small businesses in neighborhoods throughout New York City.”

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

Source:Carver Bancorp, Inc.