On May 28, 2020, the Board of Directors of Carver Bancorp, Inc. (the “Company”), following receipt of supervisory non-objection by the Board of Governors of the Federal Reserve System, appointed Steven C. Bussey to the Board of Directors of the Company. Steven C. Bussey is a Managing Director with Alvarez & Marsal in the Healthcare Industry Group in New York. He has more than 25 years of experience in finance, sales, and operations across the financial services and healthcare sectors. In this role, Mr. Bussey blends expertise in corporate finance, restructuring and workouts, raising capital and interim management and has partnered with clients in industries ranging from healthcare and technology to alternative investments, financial services and logistics. The Company’s Board of Directors has appointed Mr. Bussey to serve until the 2021 Annual Meeting of Stockholders. Mr. Bussey has been appointed to the Finance and Audit Committee.