Dec, 31, 2022 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 25 branch locations and about $4.66 billion in total assets. Opened 56 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 319,835 members and employs 623 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | COASTAL FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1000 Saint Albans Dr RALEIGH, NC 27609 |
| Phone: | (919) 420-8000 |
| Fax: | |
| Website: | https://www.coastal24.com |
| Branches: | 25 branch locations |
| Members: | 319,835 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 18297 |
|---|---|
| Membership Type: | Multiple common bond - other |
| Corporate Credit Union: | No |
| Year Opened: | 1967 |
| Last Audited: | Dec 01, 2021 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,664,645,247 |
| CEO/Manager: | Chuck Purvis |
| Chairperson: | Joan Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 458,044,369 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 6,740,210 |
| Real Estate Loans | 1,400,203,916 |
| Unsecured Loans | 202,530,348 |
| Other Loans | 2,182,921,953 |
| TOTAL LOANS | 3,786,112,775 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -39,283,930 |
| Land And Building | 48,706,650 |
| Other Fixed Assets | 16,590,144 |
| NCUSIF Deposit | 38,212,255 |
| All Other Assets | 555,263 |
| TOTAL ASSETS | 4,664,645,247 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 59,369,876 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,141,370,548 |
| Regular shares | 1,157,372,486 |
| All Other Shares & Deposits | 1,882,565,490 |
| TOTAL SHARES & DEPOSITS | 4,181,308,524 |
| TOTAL LIABILITIES | 4,240,678,400 |
| Regular Reserve | 0 |
| Other Reserves | 35,027,431 |
| Undivided Earnings | 388,939,416 |
| TOTAL EQUITY | 423,966,847 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,664,645,247 |
| INCOME & EXPENSE | |
| Loan Income | 107,081,691 |
| Investment Income | 8,178,517 |
| Other Income | 8,972,143 |
| Total Employee Compensation & Benefits | 54,920,602 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 49,599,659 |
| Non-operating Income & (Expense) | 1,168,067 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 14,915,418 |
| Cost of Funds | 13,589,131 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -6,257,419 |
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