Cooperation Among Cooperatives: Coastal and Weaver Street Market Partner to Provide In-Store Banking

Joe Mecca

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Published on 09-24-2019

Categories: Coastal News

Coastal Credit Union and Weaver Street Market have partnered to provide Coastal’s teller and ATM services in-store at the new downtown Raleigh location. The new Weaver Street Market is located at 404 West Hargett Street, on the ground level of The Dillon in Raleigh’s Warehouse District.

Coastal has installed a personal teller machine near the checkouts at the front of the store. It will offer teller services for credit union members from 7 AM to 7 PM, seven days a week. Members simply use the touch screen to initiate a video session with a Coastal teller, who can perform deposits, withdrawals, check cashing, transfers and more.  The dual-function machine will also provide ATM service to the public during store hours (7 AM to 10 PM).

“First, we’re thrilled to see one of our fellow cooperatives succeeding and expanding into Raleigh,” said Chuck Purvis, Coastal’s President and CEO. “One of our fundamental operating principles is to partner with other cooperatives, and this is an awesome opportunity to strengthen our relationship with Weaver Street Market. We’re able to add a great new benefit to their owners, while providing another convenient location for our own members to do their banking.”

This is Coastal’s first downtown Raleigh location, and provides a great opportunity to position standalone teller machines as a micro-branching concept.  Weaver Street Market is one of Coastal’s membership groups, and its consumer-owners and worker-owners are both eligible to join the credit union as a benefit of ownership.


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