Coastal Federal Credit Union

Coastal Federal Credit Union is a not-for-profit, member-owned financial cooperative located in Raleigh, North Carolina. As of 2019, Coastal had $3.387 billion in assets and more than 270,000 members.[1]

Coastal Federal Credit Union
Credit union
IndustryFinancial services
Founded1967
HeadquartersRaleigh, North Carolina, United States
Key people
Chuck Purvis
(President and CEO)
ProductsSavings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets$3.387B USD (2019)
WebsiteCOASTAL24.com

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 1,700 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 23 branches in central 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. 2020 Annual Report Retrieved May 27, 2020.


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