"Money Move Monday"
On Monday December 12, 2016 "the Community for Economic Justice, an Economic Empowerment Committee located in Brooklyn NY joined the "Money Move Movement" by opening a number of new accounts at New York based Carver Federal Savings Bank (Carver). Since then others have also opened new accounts at Carver Bank.
To date, Carver, one of the largest Black founded and operated community banks in the country, has less than 1 Billion dollars in deposits.
But Carver reinvests 80 cents of every dollar of our deposits into our communities. We must support financial institutions that support our communities.
Black New Yorkers account for more than $153 Billion dollars of New York annual deposits with little to show in return. Imagine if thousands of us were to move a portion of our money to Carver and other Black owned/operated banks. By strengthening these institutions that support our communities, we can financially grow our local economies through employment growth, new home mortgages and new local business development opportunities.
We must make choices in our own interest. If you would like to join the "Money Move Movement" please visit our website at NotMyDollar.com.
For detailed information on Carver Federal Savings Bank, go to www.carverbank.com