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National Credit Union Service Organization

COASTAL FEDERAL CREDIT UNION

Dec, 31, 2021 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 25 branch locations and about $4.62 billion in total assets. Opened 55 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 300,211 members and employs 595 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 253175494
Name:COASTAL FEDERAL CREDIT UNION
Address:
(Main Office)
1000 Saint Albans Dr
RALEIGH, NC 27609
Phone:(919) 420-8000
Fax:
Website:http://www.coastal24.com
Branches:25 branch locations
Members:300,211
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, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$4,623,157,234
CEO/Manager:Chuck Purvis
Chairperson:Joan Nelson

Call Report

  • First Time Homebuyer Program
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 843,484,357
TOTAL INVESTMENTS 610,874,458
Loans Held for Sale 20,384,662
 
 Real Estate Loans 1,039,791,555
 Unsecured Loans 184,165,733
 Other Loans 1,781,029,711
 TOTAL LOANS 3,005,676,311
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -32,635,250
 Land And Building 49,717,794
 Other Fixed Assets 13,524,202
 NCUSIF Deposit 35,126,402
 All Other Assets 77,004,298
  TOTAL ASSETS 4,623,157,234
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 54,636,856
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,106,996,057
 Regular shares 1,062,704,333
 All Other Shares & Deposits 1,942,354,029
  TOTAL SHARES & DEPOSITS 4,112,054,419
  TOTAL LIABILITIES 4,166,691,275
 Regular Reserve 60,489,291
 Other Reserves 779,831
 Undivided Earnings 395,196,837
  TOTAL EQUITY 456,465,959
  TOTAL LIABILITIES, SHARES, & EQUITY 4,623,157,234
INCOME & EXPENSE  
 Loan Income 123,809,999
 Investment Income 7,760,334
 Other Income 11,847,475
 Total Employee Compensation & Benefits 71,992,525
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 64,063,168
 Non-operating Income & (Expense) -2,218,572
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -7,716,559
 Cost of Funds 19,228,073
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 60,566,244
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