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National Credit Union Service Organization

COASTAL FEDERAL CREDIT UNION

Jun, 30, 2023 — COASTAL FEDERAL CREDIT UNION is a federal credit union headquartered in RALEIGH, NC with 25 branch locations and about $4.66 billion in total assets. Opened 57 years ago in 1967, COASTAL FEDERAL CREDIT UNION has about 319,835 members and employs 623 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)
1000 Saint Albans Dr
RALEIGH, NC 27609
Phone:(919) 420-8000
Fax:
Website:https://www.coastal24.com
Branches:25 branch locations
Members:319,835
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, 2021
FHLB Member:Yes
Low Income Designation:No
Assets:$4,664,645,247
CEO/Manager:Chuck Purvis
Chairperson:Joan Nelson

Call Report

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

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 458,044,369
TOTAL INVESTMENTS 0
Loans Held for Sale 6,740,210
 
 Real Estate Loans 1,400,203,916
 Unsecured Loans 202,530,348
 Other Loans 2,182,921,953
 TOTAL LOANS 3,786,112,775
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -39,283,930
 Land And Building 48,706,650
 Other Fixed Assets 16,590,144
 NCUSIF Deposit 38,212,255
 All Other Assets 555,263
  TOTAL ASSETS 4,664,645,247
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 0
 Accounts Payable & Other Liabilities 59,369,876
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,141,370,548
 Regular shares 1,157,372,486
 All Other Shares & Deposits 1,882,565,490
  TOTAL SHARES & DEPOSITS 4,181,308,524
  TOTAL LIABILITIES 4,240,678,400
 Regular Reserve 0
 Other Reserves 35,027,431
 Undivided Earnings 388,939,416
  TOTAL EQUITY 423,966,847
  TOTAL LIABILITIES, SHARES, & EQUITY 4,664,645,247
INCOME & EXPENSE  
 Loan Income 107,081,691
 Investment Income 8,178,517
 Other Income 8,972,143
 Total Employee Compensation & Benefits 54,920,602
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 49,599,659
 Non-operating Income & (Expense) 1,168,067
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense 14,915,418
 Cost of Funds 13,589,131
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) -6,257,419
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