The story
The bank applied for a federal charter "after the state had denied it a charter," and opened in a simple storefront in 1948. Carver Federal Savings Bank was not the first bank named after George Washington Carver. Four years earlier an unrelated bank, Carver Savings and Loan Association, opened in Omaha, Nebraska. Neither of these were the first Black-owned American bank. Carver Federal Savings, however, is the largest and oldest continually Black-operated U.S. bank.
M. Moran Weston already had earlier experience as the 1945-founder of a credit union, and, for Carver, had a supporting team of 14.
Carver Federal Savings Bank served multiple purposes:
to meet the financial services needs of African- and Caribbean-Americans in New York City
to help black homeowners obtain first mortgages
to train Blacks for careers in the banking professions in New York for the first time
along with Carver co-founder Joseph E. Davis, it hired future leaders, such as Richard T. Greene Sr., "who for 30 years was the president and a director."
From Wikipedia’s article on Carver Federal Savings Bank, shared under CC BY-SA 4.0.4