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For the past six years, Coastal has returned more than $11.7 million to our members in the form of special dividends. Our current special dividend, Loyalty Bonus, is paid to members as a reward for keeping their loan and deposit relationships with Coastal, with the opportunity for increased dividends for having a longer membership.
Combined with our Loyalty Bonus dividends, the value that Coastal provides to members in the form of better rates and lower fees than our competition has a positive impact of more than $21 million annually.
The credit union also has a Member Assistance ProgramMember Assistance Program (MAP) in place to help members who are struggling with their loan obligations. Since 2009, the MAP program has helped members restructure nearly 11,300 loans valued at $283 million, reducing their monthly payments for a period of time to help them get back on their feet.
Beyond that, Coastal is also committed to reinvesting in the communities that we serve. In the past year alone, we donated more than $300,000 to non-profit organizations through a combination of corporate donations and grants from the Coastal Federal Credit Union Foundation