Coastal Credit Union (NC)

Overview / Commentary
1000 Saint Albans Dr
Raleigh, NC 27609

Coastal Credit Union (NC) is headquartered in Raleigh and is the 2nd largest credit union in the state of North Carolina. It is also the 75th largest credit union in the nation. It was established in 1967 and as of September of 2020, it had grown to 562 employees and 274,488 members at 24 locations. Coastal Credit Union (NC)'s money market rates are 36% higher than the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Coastal Credit Union is open to all North Carolina residents by joining the North Carolina Sustainable Energy Association ($18 membership fee). Membership is also open to employees of North Carolina Cancer Centers, American Computer Solutions, FlashPoint Technology, Inc., and more than 1,000 other Select Employer Groups.
See current membership details

Puts The Mega Banks To Shame

After being nickel and dimed by the large regional bank I used for over a decade (BB&T), I decided to go shopping for another financial institute. I noticed Coastal and after looking at their products, decided to open an account (I have a parent who banks there). Now you have to open a savings account in order to get the Go Green Checking, but that's a plus.

I've been banking with this institution for over five years and it's such a breath of fresh air. No minimum balance or maintenance fees, up to date online banking and you can't beat the 7-7-7 hours it has. I've watched my savings grow and the customer service has been good. I don't have a mortgage or car loan through them, so I can't attest to how their service is on that end. But if you are looking for a basic savings and checking account, this is a great regional credit union to join.

Coastal Federal Credit Union

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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.

Deploy Technology Efficiently

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For originally being the CU for IBM, I do expect CF to embrace technology. That being said, having to use the new dual ATM/tellers to withdraw money is a pain. If you request an amount over $100, it gives you a $100 bill. Really?! I think most of us are used to $20s. Also, if I have used ENGLISH the last 100 transactions, why are you still asking me that question?? Poor ATM question flow.

Do NOT Use This Sorry Excuse For A Bank

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This bank screwed my credit score due to a clerical error when I always paid on time. When confronted about it they apologized and told me that it would cost to adjust the information and wanted me to pay it. When I refused to pay for their mistake they refused as well.
Before that infuriating problem, they cancelled my auto pay without my knowledge. They did fix the records but I was not allowed to resume my auto pay option
Truly there is a place in he'll for all that work for this den of thieves. USE THEM AT YOUR OWN RISK!!!!!!



Health Grade Components

NCUA #18297
Year Chartered1967
Primary Regulator
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD3.2%
Annual Interest Income$100.6MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$3.82B$3.31B
LoansQ3 2020vs Q3 2019$2.73B$2.81B
DepositsQ3 2020vs Q3 2019$3.39B$2.91B
Equity CapitalQ3 2020vs Q3 2019$375.4MM$359.3MM
Loan Loss AllowanceQ3 2020vs Q3 2019$42.0MM$27.6MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$13.2MM$24.0MM
Real Estate OwnedQ3 2020vs Q3 2019$0$144.00K
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Always verify rates and promotions with the bank or credit union. We are not Coastal Credit Union (NC); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Coastal Credit Union (NC) Savings Account Rates

0.60%--Health Savings Account (HSA)
0.35%--IRA Savings Account
0.10%--Special Savings
0.10%$25-Business Savings

Coastal Credit Union (NC) Money Market Rates

0.60%*-$1mGo Green Money Market (Premium Tier)
OTHER TIERS: 0.35% $1m+
0.60%*-$1mGo Green Money Market (Standard Tier)
OTHER TIERS: 0.35% $1m+
0.35%--Go Green Money Market (Base Tier)
0.25%$100-Money Market
0.25%*$25k*-Business Money Market
OTHER TIERS: 0.15% $5k - $25k

Coastal Credit Union (NC) Checking Account Rates

0.75%--Student Go Green Checking w/ 30+ Transactions
0.75%--Student Go Green Checking w/ 12- 29 Transactions
0.60%*-$10kGo Green Checking Premium - Qualifying
OTHER TIERS: 0.10% $10k+
0.60%*-$10kGo Green Checking Standard - Qualifying
OTHER TIERS: 0.10% $10k+
0.10%--Go Green Checking Base- Qualifying
0.05%$1-Business Dividend Checking

Coastal Credit Union (NC) CD Rates

0.60%$250-12 Month CD
0.60%$250-24 Month CD
0.60%$250-36 Month CD
0.60%$250-48 Month CD
0.60%$250-60 Month CD
0.60%$250-6 Month CD
0.60%$250-Business 6 Month CD
0.60%$250-Business 12 Month CD
0.60%$250-Business 24 Month CD
0.60%$250-Business 36 Month CD
0.60%$250-Business 48 Month CD
0.60%$250-Business 60 Month CD
0.50%$50k-7-90 Day Mini Jumbo CD Special
0.50%$50k-Business 7-90 Day Mini Jumbo CD Special

Coastal Credit Union (NC) IRA Rates

0.60%$250-12 Month IRA
0.60%$250-24 Month IRA
0.60%$250-36 Month IRA
0.60%$250-48 Month IRA
0.60%$250-60 Month IRA
0.60%$250-6 Month IRA
0.50%$50k-7-90 Day Mini Jumbo IRA Special


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