1
 
                                                                      EXHIBIT 21
 
SUBSIDIARIES OF THE REGISTRANT
 
     Carver Bancorp, Inc. is the holding company for Carver Federal Savings Bank
(the "Bank"), a federally chartered stock savings bank. The Bank, in turn,
wholly owns two subsidiaries, CFSB Credit Corp and CFSB Realty Corp., both of
which are incorporated in the State of New York.