[Sponsored] Online Banking with Carver Bank
This is a sponsored post for Carver Bank, but the opinions expressed in this post are based on my personal experience. It is not intended to be investment advice, and please seek a duly licensed professional for investment advice.
Being mindful of WHERE I spend my money has always been a priority by supporting small, local, and minority-owned businesses. However, it wasn't until I was introduced to Carver Bank the importance of banking with a financial institution with a community focus. Carver is one of the largest African- and Caribbean-American managed and publicly traded financial institutions with a mission to provide a full range of banking options that are accessible to all income levels.
I have been banking with the same regional bank for over 20 years, and their footprint exists only in the South or Midwest. So, on the hunt for a new financial institution to meet my needs, I started my search close to home in Harlem. Recently Carver Bank expanded its footprint for online account access beyond the seven full-service locations in New York City to other metropolitan areas along the east coast. In this blog post, I will be sharing more about Carver, their community impact, and my experience opening up a personal checking account from the comfort of my own home.
In 1948, Carver Bank was founded to provide the African American community with access to banking services that more popular banks denied. Seventy-two years later, Carver has prioritized the communities it serves through several commitments, such as reinvesting 80 cents of every dollar deposited back into the community. Outside of reinvesting, Carver has made 74% of its loans to individuals in low to moderate communities and provides no-cost financial literacy training for aspiring Minority and Women-owned business owners.
Carver recently expanded to allow online account opening throughout New York, New Jersey, Connecticut, Delaware, Maryland, Massachusetts, Philadelphia, Rhode Island, Virginia, and Washington D.C. I recently opened up an account from the comforts of my couch in less than 10 minutes, and I decided to upon the Carver Community Free Checking, which includes the following benefits:
No minimum balance
No monthly service charges
$50 minimum opening deposit
Free Visa Debit Card
Free Online Banking and Mobile Banking with Bill Pay
Free eStatements
Work with Apple Pay, Google Pay, and Samsung Pay
Five non-Carver ATM withdrawals fees waived per statement cycle
To set up your online account, you will need a copy of your state ID or driver's license, an external account to fund the new account, and a selfie to verify your identity. After setting up my account with Carver Bank, I downloaded the free mobile app available through Apple and Google Play store to review my account at a glance. My card arrived in the mail within 7 business days and is Apple and Samsung Pay compatible for seamless transactions on the go.
To view a complete list of Carver's checking accounts, click here, and for savings accounts, you can click here!
Since my account creation, I have reached out to their customer service team twice for general questions, and it was one of the most personable interactions I have had with a financial intuition. I hope this blog post gave you some insight into my experience and understand the importance of banking with an institution that gives back to the community it services.
If you have questions feel free to drop them in the comments!
