Published on 10-18-2018
Categories: Coastal News
Coastal Credit Union announced today that it has reached $3 billion in assets for the first time. The credit union has also surpassed 250,000 members.
Coastal initially achieved both marks at the end of June, and continued to grow throughout the third quarter. So far in 2018, the credit union has grown assets by 7.7% while membership has increased by 4.8%. As of the end of September, Coastal’s assets are $3.14 billion, with 253,700 members.
“Coastal’s growth is the product of a strong focus on taking great care of our membership and our community,” said Chuck Purvis, Coastal’s President and CEO. “We listen to their needs, meet them where they are out in the community, and continuously work to help them bank better, so they can live better. The results are members that consider Coastal first for their loan and deposit needs, and a steady stream of new members who want the kind of banking relationship that their friends, family and coworkers are already enjoying.”
Aside from the traditional differentiators of rates, fees and service, Coastal strives to stand out with the extras it does for members and the central North Carolina community. The credit union kicked off this year by offering all members identity theft recovery services, at no cost. Coastal later returned $2.5 million in special dividends through the annual Loyalty Bonus program. In May, Coastal’s foundation issued its millionth dollar in community grants. Also over the summer, the credit union announced new sponsorship deals with the Durham Bulls, North Carolina FC and NC Courage soccer clubs, and the Coastal Credit Union Midtown Park. Most recently, Coastal opened its 23rd branch location and hosted its second annual Family Day, which drew 3,700 attendees.