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1000 Saint Albans Dr
Raleigh, NC 27609

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 65th largest credit union in the nation. It was established in 1967 and as of March of 2014, it had grown to 451 employees and 183,986 members. Coastal Federal Credit Union's savings rates are 3X the national average, and it has a A 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 (3)

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


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


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.


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


Coastal Federal Credit Union

I opened my CFCU account on April Fools Day 2014, after visiting a competitive large national bank that was within walking distance of my university the only people was that this bank wanted me to have a much higher minimum deposit and after a 90 day grace period would have started charging a fee to hold on to my money.

I choose coastal because while they are slightly further away I have a much better banking experience. My university is a member of the bank so my share price is only $5, but the benefits only get better. One of my favorite benefits is called 7/7/7 which means 7 days a week from 7am to 7pm the vestibule of every bank location in NC, SC, and VA open.(This is a small but growing, regional credit union) Not the entire bank but enough that with a swipe of your debit card, which recognizes you as a member, you can enter the Credit Union and use the ATM to make a withdrawal or deposit a check or simply use the Coinstar. Coastal make you feel like they are at your service.

One thing about the teller machines that is truly unique is that they are video tellers, there are not as many physical people at the branches but that change means that I can talk to a real person who can walk me through depositing a check, making a bank inquiry or opening an account. I had my checking and savings accounts opened, funded and even made my first coinstar deposit all within 15 minutes.

Their customer service is also stellar. I have forgotten my security question and been locked out of my bank accounts 3 times and every time I call Coastal I am greeted with friendly, patient professionals who do not charge me for their assistance.

The only thing I cannot give any review on is the mobile banking experience as my cellphone is not a smartphone but if the mobile experiences is anything like the rest of the portfolio of services then I have no doubt that it will be amazing. I am a very happy customer.

Sweet Rates, Weak Customer Service


*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.


*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.


Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Coastal Federal Credit Union had $17.06 million in non-current loans and owned real-estate with $246.88 million in equity and loan loss allowances on hand to cover it. This gives Coastal Federal Credit Union a Texas Ratio of 6.91% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Coastal Federal Credit Union decreased dramatically from 10.50% as of March 31, 2013 to 6.91% as of March 31, 2014, resulting in a positive change of 34.20%.This indicates that the balance sheet and financial strength for Coastal Federal Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Coastal Federal Credit Union has increased its total deposits by $42.83 million, resulting in 2.29% 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.



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 $2.28 billion in assets with $246.88 million in equity, resulting in a capitalization level of 10.82%, which is above average.

Institution Statistics

NCUA #18297
Year Chartered1967
Primary Regulator
Assets and Liabilities
Assets$2.28 billion
Loans$1.69 billion
Deposits$1.91 billion
Equity Capital$230.99 million
Loan Loss Allowance$15.88 million
Unbacked Noncurrent Loans$14.32 million
Real Estate Owned$2.74 million
Historic Data - March 2013
Assets$2.23 billion
Equity Capital$215.14 million
Loan Loss Allowance$18.13 million
Unbacked Noncurrent Loans$14.32 million
Real Estate Owned$7.28 million
Profit Margin - Quarterly
Return on Assets1.25%
Return on Equity12.32%
Interest Income$19.46 million

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

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%--Special Savings
0.10%$25-Business Savings

Coastal Federal Credit Union Money Market Rates

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

Coastal Federal Credit Union Checking Account Rates

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

Coastal Federal Credit Union CD Rates

1.30%$100k-60 Month CD
1.15%$100k-48-59 Month CD
0.90%$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

1.30%$100k-60 Month IRA
1.15%$100k-48-59 Month IRA
0.90%$100k-36-47 Month IRA
0.75%$500-Special 24 Month Add On IRA
0.60%$100k-24-35 Month IRA
0.40%$100k-12-23 Month IRA
0.30%$100k-182 Day IRA
0.20%$50k-7-90 Day Mini Jumbo IRA

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