Our Story

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

• 1967: Chartered as IBM Raleigh Employees Federal Credit Union, founded by eight Raleigh-based employees of International Business Machines Corp.
• 1980: Established own ATM network and now provide access to 50,000 surcharge-free ATMs across the country
• 1984: Began offering mortgages, now offering a full menu of low-cost loans
• 1991: 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
• 1994: Changed name to Coastal Federal Credit Union
• 1995-96: Launched website and became 13th financial institution in the world to offer online banking
• 2005: Began developing video teller system, and members now can enter branch vestibules and conduct business with live tellers even when the branches are closed
• 2007: 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.
• 2011: 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.  
• 2011: Coastal Credit Union Foundation created to award grants each year to North Carolina organizations that help the needy and promote financial literacy
• 2015: Digital Banking upgrade allows members to deposit checks, transfer funds, make credit card and bill payments and much more
• 2016: Merger with Freedom Credit Union expands our reach into Henderson and Rocky Mount, and adds employees of WakeMed as members
• 2017: Loyalty Bonus program launches to reward members with a special dividend based on their total relationship with Coastal and how long they’ve been a member
• 2017: Celebrating 50 years of sharing with our members
• 2018: Began providing all members complimentary access to fully managed identity theft recovery services.

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.