Jun, 30, 2021 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in Raleigh, NC with 25 branch locations and about $4.30 billion in total assets. Opened 54 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 287,818 members and employs 583 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) | PO Box 58429 Raleigh, NC 27658 |
| Phone: | (919) 420-8000 |
| Fax: | |
| Website: | http://www.coastal24.com |
| Branches: | 25 branch locations |
| Members: | 287,818 |
| 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: | $4,295,466,356 |
| CEO/Manager: | Chuck Purvis |
| Chairperson: | Joan Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 748,345,141 |
| TOTAL INVESTMENTS | 592,353,666 |
| Loans Held for Sale | 31,640,438 |
| Real Estate Loans | 1,063,505,441 |
| Unsecured Loans | 168,435,886 |
| Other Loans | 1,579,183,257 |
| TOTAL LOANS | 2,811,870,319 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -44,042,116 |
| Land And Building | 50,459,464 |
| Other Fixed Assets | 14,821,755 |
| NCUSIF Deposit | 32,340,976 |
| All Other Assets | 57,676,713 |
| TOTAL ASSETS | 4,295,466,356 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 50,042,797 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 1,039,820,190 |
| Regular shares | 998,641,901 |
| All Other Shares & Deposits | 1,798,720,416 |
| TOTAL SHARES & DEPOSITS | 3,837,182,507 |
| TOTAL LIABILITIES | 3,887,225,304 |
| Regular Reserve | 60,489,291 |
| Other Reserves | -10,423,630 |
| Undivided Earnings | 358,175,391 |
| TOTAL EQUITY | 408,241,052 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,295,466,356 |
| INCOME & EXPENSE | |
| Loan Income | 60,649,447 |
| Investment Income | 3,148,023 |
| Other Income | 5,947,551 |
| Total Employee Compensation & Benefits | 35,804,649 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 29,740,927 |
| Non-operating Income & (Expense) | -192,401 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 1,300,000 |
| Cost of Funds | 9,661,160 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 23,544,801 |
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