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919-420-8000
P.O. Box 58429
Raleigh, NC 27658

Coastal Federal Credit Union is headquartered in RALEIGH and is the 2nd largest credit union in the state of North Carolina. It is also the 64th largest credit union in the nation. It was established in 1967 and as of December of 2013, it had grown to 422 employees and 180,638 members. Coastal Federal Credit Union's savings rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

There are three (3) options for membership eligibility. You might be qualified to join Coastal by virtue of where you work, or because you belong to an eligible association or organization. Membership is open to employees of IBM or its wholly owned subsidiaries who are reporting to a facility in the states of North Carolina, South Carolina or Virginia (except Loudoun, Prince Williams or Fairfax Counties, Virginia). Employees and persons retired as pensioners or annuitants from one of the Select Employee Groups are also qualified to join. You can also join Coastal if you are related to an existing member. Immediate family and household of eligible members qualify for membership. Spouses of persons who died within the field of membership (as long as they have not remarried) are also eligible for membership. Otherwise, you can join the North Carolina Consumer Council and claim your Coastal Membership as a benefit of belonging to the NCCC. By choosing to join the NCCC, you qualify for Coastal Federal Credit Union membership. The $18 NCCC membership fee will be deducted from your initial deposit to your Coastal Primary Savings account. - See Details

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Reviews (2)

The Rates Make Them Worth It- But If You Need Personal Help- You Are On Your Own!

Good:

Rates are great, get free debit, interest checking (1%), good loans.

Bad:

Customer service is super weak.  If you are techno savvy, you can find all kinds of good stuff on their website to help you.  But, if you are like me, not all that great with a computer, you won't get any help.

Example 1-  Recently went into a branch to change my address.  I filled out a form- done right?  No.  Ended up having to email them yesterday and ask what went wrong.  So now it's fixed? ( I had the same with my last move too.)

Example 2- A couple of years ago, I applied for a housing loan.  Approved, and I was linked with a virtual loan officer.  I emailed asking for advice, help, check list  (Clueless first time home buyer here).  I received an automated reply with my name inserted- not helpful. 

So I drove out to the branch.  Another random loan officer gave me five minutes of her time, and was in a  big hurry to hustle me out.  (Kinda weird, since the bank was virtually customer free on that afternoon).  I told her I had found a condo I was interested in, what should I do next?  She gave me a minimal form to fill out for the bank.  Felt real insecure about the whole process, and decided to put off buying a house for another few years.

Now, after doing research on their website, I find out not only are they affiliated with a real estate firm (Daymark), they also offer first time home buyer's seminars.  Why didn't they tell me about this?  It would have taken the loan officers 5 minutes to tell me!

And the change of address?  They could have sent me an email.  But they didn't.  2nd time this happened.   I'm still not sure if it's fixed, and I'm preparing to open some other bank accounts.

Overall

Call 1-800-WTF-CFCU for a good time.

 

Sweet Rates, Weak Customer Service

Positives:

*debit card is free, in fact u can get interest on your checking if you have enough debit card transactions.

*Low interest rates on loans n stuff.

Negatives:

*Lousy customer service. If u can't fix it yourself using the internet, then they don't want you!

*Why do they have branches? They don't want you to come in.

*Applied for a housing loan (approved). But then sent some emails asking for advice, recommendations (clueless first time buyer) and received automated replies. The loan officer was not a human being- it was a computer with a lot of spam.

*If anybody writes u a personal check they will take FOREVER to clear it.

*Changed my address by going to CFCU branch in person and... it still was not fixed- I didn't get my new debit card. Oh- and this is the 2nd time this happened.

Well I sent email since going to the branch didn't work... maybe now I will get my debit card?... let's see... I'm not holding my breath...

For a good time call 1-800-WTF-CFCU.



Health

Data for Q4 2013

Institution Health

B+

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Coastal Federal Credit Union had $19.43 million in non-current loans and owned real-estate with $238.85 million in equity and loan loss allowances on hand to cover it. This gives Coastal Federal Credit Union a Texas Ratio of 8.13% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Coastal Federal Credit Union decreased slightly from 10.84% as of December 31, 2012 to 8.13% as of December 31, 2013, resulting in a positive change of 24.98%.This indicates that the balance sheet and financial strength for Coastal Federal Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Coastal Federal Credit Union has increased its total deposits by $39.9 million, resulting in 2.2% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Coastal Federal Credit Union has shown is above average.

Capitalization

GRADE:
B+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Coastal Federal Credit Union has $2.23 billion in assets with $238.85 million in equity, resulting in a capitalization level of 10.70%, which is above average.

Institution Statistics

Overall
NCUA #18297
Year Chartered1967
Employees422
Primary Regulator
Assets and Liabilities
Assets$2.23 billion
Loans$1.63 billion
Deposits$1.85 billion
Equity Capital$222.64 million
Loan Loss Allowance$16.21 million
Unbacked Noncurrent Loans$15.26 million
Real Estate Owned$4.17 million
Historic Data - December 2012
Assets$2.17 billion
Equity Capital$209.50 million
Loan Loss Allowance$18.01 million
Unbacked Noncurrent Loans$15.26 million
Real Estate Owned$8.20 million
Profit Margin - Quarterly
Net Interest Margin3.51%
Return on Assets0.81%
Return on Equity8.17%
Interest Income$76.52 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Coastal Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Coastal Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.50%--Health Savings Account (HSA)
0.65%--IRA Savings Account
0.65%--Roth IRA Savings Account
0.65%--SEP IRA Savings Account
0.10%$25-Savings
0.10%--Special Savings
0.10%$25-Business Savings
0.10%--Christmas Savings

Coastal Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$25k-Money Market
0.25%$25k-Business Money Market

Coastal Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.01%-$50kGo Green Checking Premium
0.51%-$50kGo Green Checking Standard
0.05%-$50kDividend Checking
0.05%--Business Dividend Checking

Coastal Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
0.85%$100k-60 Month CD
0.80%$100k-48-59 Month CD
0.70%$100k-36-47 Month CD
0.60%$100k-24-35 Month CD
0.55%$100-Special 12 Month Student CD
0.40%$100k-12-23 Month CD
0.30%$100k-182 Day CD
0.20%$50k-7-90 Day Mini Jumbo CD

Coastal Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.85%$100k-60 Month IRA (Traditional,Roth,SEP)
0.80%$100k-48-59 Month IRA (Traditional,Roth,SEP)
0.75%$500-Special 24 Month Add On IRA (Traditional,Roth,SEP)
0.70%$100k-36-47 Month IRA (Traditional,Roth,SEP)
0.60%$100k-24-35 Month IRA (Traditional,Roth,SEP)
0.55%$100-Special 12 Month Student IRA (Traditional,Roth,SEP)
0.40%$100k-12-23 Month IRA (Traditional,Roth,SEP)
0.30%$100k-182 Day IRA (Traditional,Roth,SEP)
0.20%$50k-7-90 Day Mini Jumbo IRA (Traditional,Roth,SEP)
Locations

Coastal Federal Credit Union has 16 locations. Click to view all Coastal Federal Credit Union locations.