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National Credit Union Service Organization

COASTAL FEDERAL CREDIT UNION

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.


ABA Routing Number: 253175494
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

Call Report

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

Financial Summary

» See also Statement of Financial Condition
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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