Overdraft Line of Credit

Protection for times when your checking account runs dry

Avoid bounced checks, refused transactions and non-sufficient fund fees

Here's how a Coastal Overdraft Line of Credit could help you bank better:

  • Protects you when you spend more than your checking account balance
  • We'll help you decide on an appropriate credit line amount, given your finances
  • Coverage kicks in automatically when you overdraw your account
  • Pay no interest until you actually use your line of credit

Mistakes can happen and we're here to help.

At Coastal, we understand that sometimes your paycheck is delayed, sometimes you’re blindsided by an unexpected expense and sometimes you just forget how much is in your checking account. If you accidentally overspend, the last thing we want to do is make matters worse by refusing to honor your checks or debit card purchases.

Instead, we offer an Overdraft Line of Credit to our members, the perfect companion to your Go Green Checking account. It’s a simple process: Get approved for a line of credit and rest easy knowing your check and debit card payments will be honored in case of an overdraft. You’ll just pay back however much you owe, with interest, just like any loan. At Coastal, we want to help prepare you for whatever comes your way.

Earn more cash back when you shop.

I was able to buy my first home on my own without using all of my savings.
Margaret H.

Frequently Asked Questions

The primary savings is considered the membership account which provides our members with voting rights at the credit union and will always need to remain open and active as long as there are share products or loan products listed under the housing account.

There are two options to make principal only payments. (Excludes first mortgages and VISA Credit Cards)

You can pay an extra amount at the same time you make your regularly scheduled payment. The extra amount paid will automatically be applied to the principal balance. The regular payment and the extra amount must be applied on the same date with this option.

You can make principal only payments at other times as long as your loan is current. Please note, a principal only payment will not advance your due date, and will not take the place of normal monthly payments.

When mailing a check for principal only payments, clearly indicate in the memo section of the check, "PRINCIPAL ONLY" and the account number. Any payment applied as principal and interest, that is not notated "PRINCIPAL ONLY", cannot be reversed and reapplied later.

Please send payment to:
Coastal Federal Credit Union:
ATTN: Payments/Deposits:
PO BOX 58429, Raleigh NC 27658-8429

Please email loanservicing@coastalfcu.org with any questions.

Yes, if you wish to add more funds to your loan or increase it in anyway a new application will need to be submitted

Coastal only issues 1098 Mortgage Interest Statements for accounts that paid $600 or more in interest during the calendar year. The exact amount of interest paid on your mortgage loan is listed on your December statement.

All loans are subject to approval.

The annual percentage rate may vary after the account is opened.

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