Letter from Chuck: Holiday Greetings and a Look at the New Year

by Chuck Purvis

President & CEO

From Chuck

First, I want to wish each of you a wonderful holiday season and a bright and prosperous New Year. I also want to thank you for your continued support of and relationship with Coastal during 2015. Amid the bustle of the festivities, I hope you get time to reflect on the year that's coming to a close, and to dream about the possibilities that the new one will bring.

I know that I've found myself thinking about all the wonderful things that lie ahead in the beginning of 2016 here at Coastal, and want to share them with you.

VIP Program

Many of you are already looking forward to a Loan Rebate or Deposit Bonus Dividend as part of our VIP Program.

For those you may have missed the news earlier this year, we have made some changes to the structure of the program, eliminating the need to have specific products in order to earn a payout. As a result, we anticipate being able to reward our special dividends to as many as three times the number of VIP members as we have in the past. Look for more news on this in mid January.

Go Green Checking Changes

Earlier this month, Coastal announced that we will be making two changes to the Go Green Checking program in January. The dividend rate on the Premium Tier is being increased from 2.01% APY to 2.25% APY*, while the maximum balance that can earn the Go Green Premium and Standard tiers is being lowered to $10,000.

These new changes keep Go Green positioned as the highest dividend checking rate in our market, while following a structure that is more in line with how our members are choosing to manage their money. More than 87% of Go Green account holders keep less than $10,000 in it, and because of that, most of the member feedback I've heard has been positive.

A few members have asked me about the best way to continue to earn a high return if they find themselves with more than $10,000 to deposit. We've been recommending our 55-month certificate at 2.00% APY, the Go Green Money Market account at 1.01% APY**, or the 24-month Investors Choice certificate at 1.25% APY, depending on each individual's preferred balance of yield and liquidity. Fortunately, regardless of your choice, each of these products offers the most competitive rates in our market.

Of course, if you need personalized attention and help planning for your financial future, ourWealth Management advisors are always ready to help.

Debit Card Security

Our rollout of chip-enhanced debit cards has been going smoothly. Since October, we've been replacing expiring debit cards with new cards that feature a microchip that allows for encrypted transactions at merchants. As we move through 2016, we'll look to speed up that reissue process.

Several members have recognized the fact that chip cards provide for a more secure in-person transaction, but have asked how best to protect themselves online. The great news is, all Coastal debit and credit cards work with Visa Checkout, a new service that provides encrypted transactions for online purchases.

We'll be talking more about Visa Checkout after the New Year, especially as more online merchants begin accepting it, but there's no need for you to wait. Simply visit checkout.visa.com to enroll your cards and begin enjoying the benefits.

Digital Banking Success

Finally, I want to recognize the hard work of our employees that made our Digital Banking conversion a success, and thank our members for your patience as we made the change and fine-tuned the system after it launched. The new system comes with a much broader potential for development than our old platform, and in 2016 we'll begin work to add new features and functionality.

I hope you all share my excitement about all that the New Year will offer.

Chuck Purvis
Chuck Purvis, President & CEO



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* APY = Annual Percentage Yield. APY is variable, is subject to change without notice, and is accurate as of 12-1-15. Fees may reduce earnings. Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency.

**Go Green Money Market Premium Tier is earned when thirty (30) Go Green Checking debit card transactions posted to your account in a month.