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 |
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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 |
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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 |
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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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