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Coastal Credit Union (NC)


Overview / Commentary
919-420-8000
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 69th largest credit union in the nation. It was established in 1967 and as of March of 2019, it had grown to 525 employees and 261,316 members at 18 locations. Coastal Credit Union (NC)'s money market rates are 5X the national average, and it boasts 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

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Coastal Federal Credit Union

Posted by: AshleyH. | Aug 27, 2014

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.

A Rocky Start, but Very Optimistic

My husband and I chose to try Coastal Credit Union after a lot of research and reviews from friends and family. Unfortunately, we had to pay $25 to join an organization that we don't particularly support in order to qualify to join Coastal, as we didn't already belong to any of the organizations that automatically qualify. We were also disappointed to learn that with joint accounts, there must be one primary account person - separate and secondary logins are not available, so I often have to do business as my husband. Aside from the rocky start however, service has been wonderful and you can't argue with the hours of teller availability (7am to 7pm every day!).

Deploy Technology Efficiently

Posted by: SavvyOne | May 13, 2019

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.

Coastal Credit Union - Nuts and Bolts.

Posted by: Briderpl | Apr 15, 2018

My husband and I switched to Coastal Credit Union a couple of months ago. We did this for the better rates, for the small nature of the bank, and for the 7am - 7pm teller services offered. We also did it because a new location will be opening in our town for this particular bank. The transition has been disappointing to say the least. Only after switching did we learn that they cannot handle joint accounts properly - Instead, they made my husband the account owner with the sole login ability while I feel like a little girl accessing her daddy's bank account. Sure, I have my own debit card, but I don't even know if I could write a check without it being denied. In addition to this, they did not make it clear what numbers we would need to use to set up EFTs, so we were pounded with all kinds of bounced check fees when paying our bills during the first month. I am hoping that when the new physical location opens that I will receive much better service. As it is right now, deposited checks are processed more slowly than at our previous bank, and there is just an air of uncertainty with every financial transaction that we make.

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Health
A+

Health Grade Components

Overall
NCUA #18297
Year Chartered1967
Employees525
Primary Regulator
Profit Margin
Return on Assets - YTD1.44%
Return on Equity - YTD13.46%
Annual Interest Income$33.9MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$3.25B$2.98B
LoansQ1 2019vs Q1 2018$2.74B$2.55B
DepositsQ1 2019vs Q1 2018$2.80B$2.58B
Equity CapitalQ1 2019vs Q1 2018$342.8MM$318.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$22.0MM$20.9MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$9.0MM$8.9MM
Real Estate OwnedQ1 2019vs Q1 2018$645.00K$1.9MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%--IRA Savings Account
1.50%--Health Savings Account (HSA)
0.10%--Savings
0.10%--Special Savings
0.10%$25-Business Savings

Coastal Credit Union (NC) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$1mGo Green Money Market (Premium Tier)
OTHER TIERS: 0.75% $1m+
0.35%--Go Green Money Market (Standard Tier)
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$10kGo Green Checking Premium - Qualifying
OTHER TIERS: 0.10% $10k+
3.00%*-$10kStudent Go Green Checking Premium - Qualifying
OTHER TIERS: 0.10% $10k+
0.51%*-$10kGo Green Checking Standard - Qualifying
OTHER TIERS: 0.10% $10k+
0.51%*-$10kStudent Go Green Checking Standard - Qualifying
OTHER TIERS: 0.10% $10k+
0.10%--Go Green Checking Base- Qualifying
0.10%--Student Go Green Checking Base- Qualifying
0.05%$1-Business Dividend Checking

Coastal Credit Union (NC) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$250-60 Month CD
2.90%$250-48 Month CD
2.80%$250-36 Month CD
2.50%$250-24 Month CD
2.25%$250-12 Month CD
2.25%$250-27 Month Special Promotional CD
2.00%$250-6 Month CD
1.25%$10k-24 Month Investor Choice Term Certificate
1.05%$10k-48 Month Investor Choice Term Certificate
0.80%$10k-36 Month Investor Choice Term Certificate
0.50%$50k-7-90 Day Mini Jumbo Special Promotional CD

Coastal Credit Union (NC) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$250-60 Month IRA
2.90%$250-48 Month IRA
2.80%$250-36 Month IRA
2.50%$250-24 Month IRA
2.25%$250-12 Month IRA
2.25%$250-27 Month Special Promotional IRA
2.00%$250-6 Month IRA
0.50%$50k-7-90 Day Mini Jumbo Special Promotional IRA
Locations

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