This Man, Along With 14 Others, Helped Found The Largest Black Owned Financial Institution & Built Housing For Thousands

1 Posted by - December 18, 2021 - LATEST POSTS

The Rev. Dr. M. Moran Weston, led one of Harlem’s most prominent churches, helped found what became the nation’s largest -owned financial institution and built housing for thousands.,

In 1948, Dr. Weston joined with 14 others to found the Carver Federal Savings Bank. He was principally responsible for raising the $250,000 for a federal charter after the state had denied it a charter. He went on to serve as both president and chairman of Carver, which today describes itself as the largest independently owned black financial institution.

He saw no oddity in a priest’s being a banker.

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