Coastal Federal Credit Union

Coastal Federal Credit Union
Credit union
Industry Financial services
Founded 1967
Headquarters Raleigh, North Carolina, United States
Key people
 Chuck Purvis
(President and CEO)
Products Savings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets $2.82B USD (2016)
Website COASTAL24.com

Coastal Federal Credit Union is a not-for-profit, member-owned financial cooperative located in Raleigh, North Carolina. As of 2016, Coastal had $2.8 billion in assets and more than 230,000 members.[1]

History

Established in August 1967, Coastal was formed through the efforts of eight employees of International Business Machines Corporation (IBM) to meet the financial needs of the local IBM community in Raleigh. In 1991, the field of membership was expanded to include employees of other businesses throughout certain North Carolina areas. Today, Coastal serves employees of more than 1,400 businesses and associations.

Coastal was a pioneer in the area of video banking, and in 2010 became the first institution in the world to convert 100 percent of its teller operations to video tellers.

Coastal operates 22 branches in the Triangle market of North Carolina and serves members in all 50 states through a network of 5,000 shared branches, 80,000 surcharge-free ATMs, mobile banking featuring mobile check deposit, and a robust offering of online services at www.COASTAL24.com.

References

  1. ↑ 2017 Annual Report Retrieved June 29, 2018.


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