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.
| 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 |
| 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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