Dec, 31, 2023 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 25 branch locations and about $4.99 billion in total assets. Opened 57 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 331,458 members and employs 629 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: | 331,458 |
| 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, 2022 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,993,908,927 |
| CEO/Manager: | Tyler Grodi |
| Chairperson: | Joan Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 423,675,714 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 4,463,152 |
| Real Estate Loans | 1,870,788,908 |
| Unsecured Loans | 230,233,677 |
| Other Loans | 2,043,940,925 |
| TOTAL LOANS | 4,145,400,531 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -49,747,996 |
| Land And Building | 46,422,759 |
| Other Fixed Assets | 39,888,536 |
| NCUSIF Deposit | 38,335,693 |
| All Other Assets | 1,234,669 |
| TOTAL ASSETS | 4,993,908,927 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 110,000,000 |
| Accounts Payable & Other Liabilities | 63,242,606 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,006,546,096 |
| Regular shares | 1,004,703,306 |
| All Other Shares & Deposits | 2,343,082,449 |
| TOTAL SHARES & DEPOSITS | 4,354,331,852 |
| TOTAL LIABILITIES | 4,528,423,273 |
| Regular Reserve | 0 |
| Other Reserves | -25,440,298 |
| Undivided Earnings | 490,925,952 |
| TOTAL EQUITY | 465,485,654 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,993,908,927 |
| INCOME & EXPENSE | |
| Loan Income | 219,358,602 |
| Investment Income | 20,816,632 |
| Other Income | 12,901,931 |
| Total Employee Compensation & Benefits | 79,758,626 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 68,197,852 |
| Non-operating Income & (Expense) | -1,476,096 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 30,508,653 |
| Cost of Funds | 77,689,413 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 33,969,320 |
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