Dec, 31, 2020 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in Raleigh, NC with 25 branch locations and about $3.96 billion in total assets. Opened 54 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 277,399 members and employs 574 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: | 277,399 |
| 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, 2019 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $3,955,113,831 |
| CEO/Manager: | Chuck Purvis |
| Chairperson: | Joan Nelson |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 912,243,002 |
| TOTAL INVESTMENTS | 204,432,777 |
| Loans Held for Sale | 26,956,988 |
| Real Estate Loans | 1,120,852,105 |
| Unsecured Loans | 170,755,912 |
| Other Loans | 1,413,356,097 |
| TOTAL LOANS | 2,705,802,520 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -44,954,692 |
| Land And Building | 51,021,029 |
| Other Fixed Assets | 14,439,729 |
| NCUSIF Deposit | 30,760,295 |
| All Other Assets | 54,412,183 |
| TOTAL ASSETS | 3,955,113,831 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 51,711,365 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 220,038,861 |
| Regular shares | 1,590,952,636 |
| All Other Shares & Deposits | 1,708,182,473 |
| TOTAL SHARES & DEPOSITS | 3,519,173,970 |
| TOTAL LIABILITIES | 3,570,885,335 |
| Regular Reserve | 60,489,291 |
| Other Reserves | -10,891,387 |
| Undivided Earnings | 334,630,592 |
| TOTAL EQUITY | 384,228,496 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 3,955,113,831 |
| INCOME & EXPENSE | |
| Loan Income | 130,085,115 |
| Investment Income | 4,316,558 |
| Other Income | 64,619,767 |
| Total Employee Compensation & Benefits | 67,166,002 |
| NCUSIF Premiums Expense | 0 |
| Total Other Operating Expenses | 58,049,996 |
| Non-operating Income & (Expense) | 2,584,441 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 31,471,829 |
| Cost of Funds | 25,544,915 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 19,373,139 |
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