Our Story

Helping members bank better to live better for more than 50 years

Here’s how Coastal Credit Union has become a better place to bank


Chartered as IBM Raleigh Employees Federal Credit Union, founded by eight Raleigh-based employees of International Business Machines Corp. 


Established own ATM network and now provides access to 50,000 surcharge-free ATMs across the country.


Began offering mortgages, now offering a full menu of low-cost loans.


Membership expanded to include employees of other businesses; today, members bank at 23 branches in Apex, Carrboro, Cary, Durham, Garner, Henderson, Holly Springs, Raleigh, Research Triangle Park, and Rocky Mount.


Changed name to Coastal Federal Credit Union.


Launched website and became 13th financial institution in the world to offer online banking.


Began developing video teller system, and members now can enter branch vestibules and conduct business with live tellers even when the branches are closed.


Introduced Go Green Checking, our flagship product. Launched Daymark Realty, the fully-owned Coastal subsidiary that features trained REALTORS® who provide low-commission services to home sellers and assist buyers as well.


7-7/7 teller hours begin, providing teller services from 7 a.m. to 7 p.m., seven days a week for an unmatched level of access and convenience. Coastal is first in the world to go to 100% video tellers.  


Coastal Credit Union Foundation created to award grants each year to North Carolina organizations that help the needy and promote financial literacy.


Digital Banking upgrade allows members to deposit checks, transfer funds, make credit card and bill payments and much more.


Merger with Freedom Credit Union expands our reach into Henderson and Rocky Mount, and adds employees of WakeMed as members.


Started referring to ourselves as Coastal Credit Union. While our official name is still Coastal Federal Credit Union, we updated our name to be shorter and more inclusive.


Loyalty Bonus launches to reward members with a special dividend based on their total relationship with Coastal and how long they’ve been a member. The program replaces VIP, which dates back to 2012.


Celebrating 50 years of sharing with our members.

We offer a better way to bank, but we're not a bank.

That’s an important point. A bank’s primary goal is to deliver profits to its shareholders. As a not-for-profit, member-owned cooperative, Coastal’s main goal is to deliver affordable, convenient and professional financial services. We believe we’ve succeeded over the past 50 years.

Even as we’ve added services ranging from video banking to a real estate company, we’ve cut costs. In fact, we've eliminated half of the fees we used to charge. Even as we’ve enticed new members with high savings rates, we’ve lent a hand to those struggling with loan payments through our Membership Assistance Program. Even as our deposits soared past $3 billion, we’ve focused on giving back through a Loyalty Rewards program and foundation that supports local charities. Yes, we’ve come a long way since 1967. But when it comes to serving North Carolina, our attitude is we’ve just gotten started.

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